Amwoodo Raises $4 Mn To Scale Production Of Sustainable Bamboo Products

SUMMARY

The funding round was round led by existing investor Rainmatter, with participation from Adventz Group, Thinkuvate, and Caspian

Amwoodo said it will use the funds to scale its production capacity, strengthen its D2C marketplace Ecoconscious, and launch new plastic-alternative brands

Amwoodo aims to replace single-use plastics by offering bamboo-based alternatives for personal care and hospitality products, bamboo polymer composite, bamboo veneers, among others

Sustainable solutions startup Amwoodo has raised $4 Mn in its pre-Series A round led by existing investor Rainmatter, with participation from Adventz Group, Thinkuvate, and Caspian.

The startup said it will use the fresh funds to scale its production capacity to meet growing domestic and international demand, strengthen its D2C marketplace Ecoconscious, and launch new plastic-alternative brands.

Founded in 2019 by Sourav Dey, Agni Mitra and Avijit Rajak, Amwoodo aims to replace single-use plastics by offering bamboo-based alternatives to disposable products. It offers bamboo-based personal care and hospitality products, bamboo polymer composite, bamboo veneers, framing systems, decor items, among others.

Amwoodo currently offers its products under three brands – imeco, Shaveco, and Dencrus.

For its B2B business, the startup claims to have partnerships with Himalaya Wellness Company, Bombay Shaving Company, and ITC Hotels.

Prior to this funding round, the startup raised $1 Mn from Rainmatter.

Amwoodo operates in the sustainability market which is growing rapidly as consumers and individuals demand environmentally-responsible alternatives to plastic products. With the rising demand for sustainable products, startups manufacturing packaging materials using biodegradable, compostable, and recyclable products made out of bamboo and natural fibres are gaining traction.

Besides Amwoodo, the likes of Bambrew, Beco, among others, are also manufacturing degradable products such as tissue rolls, bamboo facial tissues, pet poop bags, feminine hygiene care bags, and food-grade packaging.

Investors are actively backing these startups to help them grab a market share in the sustainability segment. In July, Bambrew raised INR 90 Cr in its Series B funding round led by former Essel Propack MD Ashok Goel and Enrission India Capital. Last year, Beco raised $10 Mn in its Series B funding round led by Tanglin Venture Partners.

On the B2B side, PeelOn, which provides green packaging solutions, recently bagged funding from GrowX Ventures, Branch Venture Group, and Clean Energy Venture Group.