Sustainable packaging firm Cirkla raised $3 M Pre-seed funding from Matrix Partners and Stellaris Venture
A pre-seed funding round led by Matrix Partners India and Stellaris Venture Partners including angel investors raised $3 million for the sustainable packaging company Cirkla.
Cirkla claims that the money will be invested in new technologies, growth in operations, and a stronger sales force.
Vaibhav Goel, Ankur Gupta, and Kapil Bhardwaj founded Cirkla, a company that uses portfolio assessment, design and prototyping, and global fulfillment to assist brands in achieving their sustainability packaging goals.
During the portfolio assessment phase, Cirkla uses its own Life Cycle Assessment (LCA) models to assess the environmental impact of the brand’s packaging and to rank SKUs according to their potential for sustainability. After that, Cirkla’s internal packaging team creates substitute packaging solutions. To manufacture and deliver packaging across a variety of categories, it also makes use of its global presence and teams in China, India, and the US.
In August 2021 and June 2022, respectively, Matrix and Stellaris announced the launch of their India-specific funds. Since that time, Matrix has supported EMTECH, Freakins, Scapia, Genwise, Saveo, Murf AI, XimKart, and ZippMat, while Stellaris led a $4.5 million seed round in Kombai, a front-end devtools startup, in August and a $3.6 million pre-Series A funding round in Factors.ai, a business-to-business (B2B) analytics software company, the month before.
