Sustainable packaging startup Bambrew raises $7 million in funding led by Blume Ventures
Bambrew, a cleantech startup operating in the sustainable packaging space, on Friday said it has raised Rs 60 crore (about $7 million) in Series A funding round led by Blume Ventures.
The funding was a mix of equity and debt. The equity element totalled to about Rs 30 crore, a company spokesperson told ET.
Elevate Your Tech Prowess with High-Value Skill Courses
Offering CollegeCourseWebsiteMITMIT Technology Leadership and InnovationVisitIIT DelhiIITD Certificate Programme in Data Science & Machine LearningVisitIIM KozhikodeIIMK Advanced Data Science For ManagersVisitThe round also saw participation from Blue Ashva Capital, Mumbai Angels, Indus Capital along with angel investors.
The funds will be used to expand into primary packaging for consumer goods, food and beverages product categories, expanding manufacturing capabilities, research and development and building a team, the company said in a statement.
Founded in 2019, Bambrew provides alternatives to single use plastics in the packaging industry that are plastic-free, degradable and environment friendly. Its clients include Amazon, Nykaa, MyGlamm, Bata, Snitch, Harris Brushes and Mahindra among 100 others.
The Bengaluru-based startup has a manufacturing facility spread across three acres that houses a lab with standards for research and development (R&D) on new materials, processes and products. It uses products that are certified by the Government of India and the Central Pollution Control Board for being plastic free and are compostable within 130 days.
