Bambrew raises Rs 60 crore in Series A funding from Blume Ventures

Sustainable packaging startup Bambrew on Friday announced that it has raised Rs 60 crore in a mix of equity and debt funding in a Series A round led by Blume Ventures.

The round had participation from Blue Ashva Capital, Mumbai Angels, Indus Capital along with angels Sreevathsa (Servify), Mandeep (Cashify), and R K Narayan (President, Horizon Industrial Parks).

The funding will be used by the company to expand into primary packaging for fast-moving consumer goods (FMCG), food and beverages (F&B) product categories, manufacturing capabilities, as well as its research and development team.

“So far, we have saved more than 60,000 tonnes of single-use plastic and more than 125,000 tonnes of carbon dioxide emissions by creating revolutionary materials which are both functional and cost-efficient compared to plastic,” said Vaibhav Anant, co-founder, Bambrew.

“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 said.

Bambrew has reportedly grown 100-fold since its inception in 2019 by Anant. The company has set up a state-of-the-art facility spread across three acres, which houses a lab of international standards for research and development on new materials, processes, and products.

“Similar to how the FAME-II subsidies provided tailwinds for the rise of electric vehicles (EVs), we envision that the Extended Producer Responsibility (EPR) regulations in India will lead to the rise of circular economy companies. Sustainable packaging solutions then become a need for which there are very few complete products in the market,” said Arpit Agarwal, partner at Blume Ventures.

“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,” Agarwal said.

Bambrew uses products which are certified by the Government of India and Central Pollution Control Board for being plastic-free and are compostable within 130 days. Bambrew products are soil biodegradable, home compostable, and industrial compostable.

The firm’s clients include the likes of Amazon, Nykaa, MyGlamm, Bata, Snitch, Harris Brushes, and Mahindra, among over 100 others.

First Published: Mar 29 2024 | 5:19 PM IST