The Bengaluru-based sustainable packaging start-up company, Bambrew, just raised Rs. 90 crore (approx. US $ 10.3 million) in the funding round led by the former Managing Director of Essel Propack, Ashok Goel. This investment round also featured the Japanese venture capital firm, ENRISSION INDIA CAPITAL.
With the company’s 500 + customers including apparel players such as Shoppers Stop, Snitch, Nicobar, Puma, Global Desi and Nicobar amongst others, this investment will not only help Bambrew in doubling its production but also assist the company in foraying into new markets like North America and Middle-East.
In this regard, Founder of Bambrew, Vaibhav Anant said that they’ll utilise this investment in the science and scaling up of their production, which will aim at replacing plastic in India and in global marketplaces.
As such, the company seeks to replace plastic with eco-friendly packaging solutions, which are crafted from bamboo-fibre, seaweed, agro-waste and recycled paper. In addition, the company also stated that its materials are developed in order to be home-compostable, making them the perfect substitute for single-use plastic.
Bambrew, with its portfolio consisting mainly of garment bags, now also includes recyclable films in order to replace aluminium laminates and traditional plastics. Further, this start-up also plans entering into categories like quick commerce, and apart from diversifying, it is also aiming at achieving Rs. 120 crore in revenue by 2026.
Speaking on the same, Kunal Prasad, who is the Co-founder of Bambrew, said that they plan on creating new product lines and strengthening operations in another 12 months.
The additional plans of this B2B (business-to-business) company include moving into the D2C (direct-to-consumer) space, which will help consumers gain access to its eco-friendly packaging for household use.
