Bengaluru-based green packaging startup Bambrew has picked up $2.35 Mn in its Pre-Series A round. The fresh investment was led by Blue Ashva Capital and Supack Industries. The startup in a statement disclosed that it has also received investment from Mumbai Angels and other angel investors in the country.
Bambrew will be utilising the fresh capital infusion to build a tech enabled platform for sourcing green packaging, and increase the supply capacity. The startup also plans to expand in multiple cities, invest in R&D of new sustainable materials and further expand team.
Founded in 2018 by Vaibhav Anant, Bambrew claims to have replaced more than 10,000 tons of plastic with green sustainable materials. The startup through its proprietary technology offers alternatives to ecommerce mailer bags, food packaging in F&B industry, pouches and foldable cartons in FMCG industry and PVC in pharmaceutical industry. The startup claims all their products are plastic-free and are made in-house.
The startup has marked its presence at international platforms such as MISK Global Forum, Saudi Arabia and Australia.
While there are several upcoming Indian startups that are trying to eliminate the carbon footprint mostly by promoting electric vehicles and solar power, the Indian startup ecosystem is to produce more startups focussing on reducing plastic menace.
When it comes to packaging, Bambrew pits against recently funded Bizongo, and Aggarwal Biotech among others. Last month, Inc42 exclusively reported that Bizongo has raised $110 Mn in its Series D round of funding led by Tiger Global.
As per the recent Indian government’s data, plastic pollution in India has more than doubled in the last five years. In the winter session of parliament, responding to a query, Ashwini Choubey, Minister of State for Environment said that more than 34 lakh tons of plastic waste was generated in 2019-20 and 30.59 lakh tons in 2018-19. India has produced 15.89 lakh tons of plastic waste in 2015-16.