Bambrew, a clean-tech startup in the sustainable packaging space, has announced the raising of INR 60 crore in equity and debt in a Series A led by Blume Ventures.
Blue Ashva Capital, Mumbai Angels, Indus Capital, along with angels Sreevathsa (Servify), Mandeep (Cashify), and RK Narayan (President at Horizon Industrial Parks), also participated in the round.
Bambrew raised USD 2.35 million in a pre-Series A round led by Blue Ashva Capital and Supack Industries in January 2022.
According to the official release, the fresh funding will be used to expand into primary packaging for FMCG, food, and beverage product categories, expanding manufacturing capabilities, R&D, and team.
Vaibhav Anant, Founder and CEO of Bambrew, said, "This funding round is a testament to our grit and resilience towards bringing positive and sustainable change to the packaging industry. I am proud to share that so far, we have saved more than 60,000 tons of single-use plastic and more than 125,000 tons of CO₂ emissions by creating revolutionary materials that are both functional and cost-efficient."
"We would be expanding to multiple geographies with various solutions across categories in primary and secondary packages. We will utilise the funds to expand our presence in categories across various forms of primary packaging and help brands adopt materials which are more sustainable and functional," he added.
Established by Vaibhav Anant in 2019, Bambrew provides plastic-free packaging options to businesses such as Amazon, Nykaa, and Bata. The startup claims that its products can be composted in 130 days and have been certified by the Central Pollution Control Board and the Government of India.
Arpit Agarwal, Partner at Blume, added, "The capability of this team to provide end-to-end solutions for FMCG and e-commerce customers and their capacity to innovate ahead of competition make this an ideal investment. We are hoping for the company to soon disrupt the primary packaging market."
