Bamboo products manufacturer Amwoodo raised $1 M from venture fund Rainmatter
The venture fund Rainmatter, backed by Zerodha, has invested $1 million in Amwoodo, a manufacturer of bamboo products.
The funds that will be raised will help support expansion plans, upskill artisans, and upgrade machinery and equipment.
Having been established in 2019, Amwoodo focuses on producing bamboo products, including towels, combs, toothbrushes, razors, slippers, and compostable sanitary bags. About 380 craftspeople and 400 farmers in the northeast provide bamboo directly to the company. Its factories in Howrah, Kolkata, handle the last stages of product refinement to meet export specifications.
With notable clients including hotel chains like Taj Hotels and The Leela and direct-to-consumer brands like Himalaya, Man Company, Nat Habit, and Kimirica, the platform serves both business-to-business (B2B) and business-to-consumer (B2C) markets.
During the most recent fiscal year, the Kolkata-based company reported sales of Rs 21.72 crore. Approximately Rs 60 crore is the sales target that the company has set for the current fiscal year.
