Bambrew, a one-step solution to provide sustainable packaging has announced that the company has raised $2.35 million in the pre Series-A funding round led by Blue Ashva Capital and Supack Industries. The round also saw participation from Mumbai Angels and notable angel investors, an official statement highlighted.
The company announced that the latest infusion of funds will be utilized to build India’s first tech enabled platform for sourcing green packaging, increase the supply capacity, expand in multiple cities, invest in R&D of new sustainable materials and further strengthen the team.
Vaibhav Anant, Founder, Bambrew commented on the funding round ,and said “People and businesses are having increased awareness of the perils of Single Use Plastic (SUP) usage. We are elated to see the changing consumer behaviours to consider alternatives. This strengthens our vision and belief to reduce the usage of SUP and help make our planet a better place for the current and future generations. We have been able to scale our operations manifold over these past few years and take great pride in our collaboration with the largest e-commerce player in the world as well as other major players in this space. Over past 2 years, we have seen 50x growth and envision further higher growth scale in the upcoming year. This latest infusion of funds will help us increase our footprint and supply capacity across metros like Delhi, Mumbai, and Kolkata, as well as global markets including the US, Europe, and the Middle East.”
Satya Bansal, Founder, Blue Ashva Capital also mentioned “Single use plastics have been widely used for various applications, even though their negative environmental impact has been well understood for decades. There are simply two parameters that have driven this choice: price and application. Previous attempts at sustainable packaging have failed on one or both of these parameters. We are proud to work with the Bambrew team to deliver sustainable alternatives at scale that are not only environmental friendly but also cost competitive and multi-application.”