Dharaksha Ecosolutions secures INR 24.8 Cr from Avaana Capital and others to scale up production of biodegradable packaging made from agricultural waste.
The funding aims to bolster R&D and market presence in a burgeoning sector, with the startup already having repurposed 7,000 tons of waste.
The investment reflects rising investor interest in India's sustainable packaging market, highlighted by recent fundings in similar ventures like Bambrew and AmplePac.
Biotech startup Dharaksha Ecosolutions has raised INR 24.8 Cr ($2.95 Mn) in a seed funding round from Avaana Capital. With participation from the Shark Tank India team, Vinners Capital, India Angels and Soonicorn, among others.
The Delhi-based company will use the fresh capital to expand its production capabilities, intensify R&D practices and strengthen market presence in the sustainable packaging industry.