(MENAFN- KNN India) New Delhi, Mar 30 (KNN)
Bambrew, a Bengaluru-based cleantech startup pioneering sustainable alternatives to single-use plastics, has secured Rs 60 crore (around USD 7 million) in Series A funding.
The round was led by Blume Ventures and included equity and debt financing. Approximately Rs 30 crore came in the form of equity investment, reported ET.
The fresh capital will allow Bambrew to scale up its plastic-free, compostable packaging solutions across consumer goods, food, and beverage categories.
Funds will also go towards boosting manufacturing capabilities, R&D efforts to develop new eco-friendly materials and products, and team expansion.
Founded in 2019 by Vaibhav Anant, Bambrew provides degradable, plastic-free packaging for over 100 clients including Amazon, Nykaa, MyGlamm, Bata, and Mahindra.
Its certified products can decompose within 130 days while matching plastic's functionality and cost-efficiency.
Bambrew operates a 3-acre manufacturing facility with an R&D lab focused on creating new sustainable packaging innovations.
So far, the startup claims to have prevented over 60,000 tonnes of single-use plastic waste and 125,000 tonnes of CO2 emissions.
"We envision that India's EPR regulations will lead to the rise of circular economy companies like Bambrew," said Arpit Agarwal of Blume Ventures, referring to the country's Extended Producer Responsibility policies pushing sustainable packaging.
Joining Blume Ventures were Blue Ashva Capital, Mumbai Angels, Indus Capital, and several angel investors.
As brands face growing pressure to curb plastic pollution, Bambrew's plastic-free packaging presents an eco-friendly solution poised for significant growth.
(KNN Bureau)
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