Bambrew, a clean-tech start-up in sustainable packaging space has raised Rs 60 crore in equity and debt in a Series A round of funding led by Blume Ventures. The round had participation from Blue Ashva Capital, Mumbai Angels, Indus Capital along with angels Sreevathsa (Servify), Mandeep (Cashify), RK Narayan (President at Horizon Industrial Parks).
The funding will be used to expand into primary packaging for FMCG, Food and Beverages product categories; expanding manufacturing capabilities, R&D and team, the company said.
Bambrew provides innovative solutions to Single Use Plastics in the packaging industry which are not only plastic free but are also functional, degradable and environment and animal friendly. Bambrew’s clients include Amazon, Nyka, My Glam, Bata, Snitch, Harris Brushes, Mahindra among 100+ A listed clients
Bambrew has grown 100X since its inception in 2019, the company claimed. Bambrew claims that it has established a cutting-edge facility spanning 3 acres, featuring a fully equipped lab adhering to international standards for Research and Development focused on innovative materials, processes, and products. Its products are certified by the Government of India and the Central Pollution Control Board as plastic-free and compostable within 130 days. Bambrew offers soil biodegradable, home compostable, and industrial compostable products.
Vaibhav Anant, founder of Bambrew said, “I am glad to welcome Blume, Indus Capital among others on this sustainable journey with us along with our existing investors Blue Ashva who doubled down their investment along with Mumbai Angels and other angels.We would be expanding to multiple geographies with various solutions across categories in primary and secondary packages.”
Arpit Agarwal, partner at Blume, added, “We are excited to lead an investment into another innovative company such as Bambrew. Similar to how the FAME II subsidies provided tailwinds for the rise of EVs, we envision that the EPR regulations in India will lead to the rise of circular economy companies.”
The global market for sustainable packaging has a market size of $274.15 billion in 2020 and is projected to achieve a compound annual growth rate (CAGR) of 6.5 per cent between 2023 to 2030.
