Cirkla Secures Funding To Offer Sustainable Packaging Solutions To Businesses

Sustainable packaging startup Cirkla has secured $3 Mn in a pre-seed funding round led by Matrix Partners India and Stellaris Venture  Partners. The round also saw participation from other investors. 

Founded in 2023 by Vaibhav Goel, Ankur Gupta, and Kapil Bhardwaj, Cirkla aims to provide large-scale businesses with sustainable packaging solutions.

The startup said that the funds will be deployed towards scaling operations, strengthening sales team and tech innovation.

Cirkla aims to assist businesses in navigating the complexities of sustainable packaging through its end-to-end platform, offering tools and expertise for assessing environmental impact, developing sustainable alternatives, and enabling large-scale manufacturing.

To achieve this, Cirkla employs a three-step approach — portfolio assessment, design and prototyping, and global fulfillment. The startup leverages proprietary Life Cycle Assessment (LCA) models to assess the environmental impact of its clients’ packaging materials, prioritising SKUs for maximum sustainability.

In terms of materials, Cirkla utilises a range of raw categories, including moulded fibre, recycled polymers, pulp and paper, and other advanced technologies. 

According to a recent survey by McKinsey, out of the 75% of companies that want to use eco-friendly packaging, only 30% have the capabilities to meet regional requirements and transparently measure metrics. Cirkla aims to help solve these problems by helping brands understand how green their packaging is, find better options, and produce it on a large scale.

Speaking on the fundraise, Vaibhav Goel, cofounder and CEO of Cirkla, said, “It’s not often that we find instances where all participants within the value chain (consumers, manufacturers, and government) unite towards a common goal. According to various reports, exceptional potential lies ahead for Cirkla, as the worldwide sustainable packaging sector is anticipated to double in size and exceed $500 Bn by the year 2030.”

The startup has already partnered with multiple global brands in the consumer packaged goods (CPG), food service, and healthcare space, expanding its reach across the US, UK, EU, and India.

As sustainability increasingly becomes a focal point across industries, Indian startups specialising in sustainable products and services are garnering more investor interest. 

For instance, mining giant Vedanta recently announced plans to collaborate with over 100 startups to explore sustainable technologies through its third edition of Vedanta Spark. 

In June, climate-focused venture capital firm Avaana Capital disclosed that it had raised $70 Mn for the first close of its Avaana Climate and Sustainability Fund, targeting a total corpus of $100 Mn – $125 Mn. Similarly, in April, Omnivore also announced a $130 Mn venture fund to focus on climate sustainability.