Sustainable packaging clean-tech startup Bambrew has announced a successful Series A funding round, securing nearly $7.19m in equity and debt.
Led by an early-stage venture fund Blume Ventures, the financing round saw participation from existing partners Blue Ashva Capital, Capital-A and Mumbai Angels along with angel investors.
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The funds will be channelled towards expanding Bambrew’s reach into primary packaging for consumer goods, food and beverages, enhancing production capabilities, and research and development efforts.
The company also plans to expand its team to support these initiatives.
Bambrew is offering alternatives to single-use plastics in the packaging industry that are not only plastic-free but also degradable, environmentally friendly, and safe for animals.
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The start-up’s customers and users include Amazon, Nyka, My Glam, Bata, Snitch, Harris Brushes, and Mahindra.
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By GlobalDataFounder Vaibhav Anant was quoted by The Hindu as saying: “I am proud to share that so far, we have saved more than 60,000mt of Single Use Plastic and more than 125,000mt of CO2 emissions by creating revolutionising materials which are both functional and cost efficient to plastic.
“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.”
Bambrew’s products are certified by the Government of India and the Central Pollution Control Board as being plastic-free and compostable within 130 days.
The company’s products are soil biodegradable, home compostable, and industrial compostable.
Since its inception in 2019, Bambrew claims to have grown 100 times and established a facility that spread across three acres.
The facility includes an advanced lab for research and development of new materials, processes, and products.
In January 2022, Bambrew raised $2.35m in pre-Series-A funding from Blue Ashva Capital and Supack Industries.
