Meta-material innovation company Bambrew raises Rs 90 Cr from Ashok Goel, Enrission India Capital
With the help of Japanese venture capital firm ENRISSION INDIA CAPITAL and Ashok Goel, the former managing director of Essel Propack, Bambrew, a Bengaluru-based meta-material innovation company that specializes in sustainable packaging solutions, has raised Rs 90 crore, or roughly $10.3 million.
The business had previously raised $11.8 million from Blume Ventures and other investors.
According to a press release from Bambrew, the money raised will be used to scale production, spur innovation, and increase the company’s footprint in international markets like the Middle East and North America.
Vaibhav Anant founded Bambrew in 2019 to create high-performing, environmentally friendly substitutes for single-use plastics using recycled paper, bamboo fiber, seaweed, agro-waste, and other natural resources. In order to meet the demands of contemporary commerce without compromising the environment, its proprietary materials are scalable, long-lasting, and home compostable.
According to Bambrew, it has increased its customer base in important industries like FMCG, e-commerce, personal care, and food and beverage, as well as its product line from mailer bags and clothing bags to sustainable mango box packaging, during the past 12 months. With products like recyclable films made of aluminum and high-barrier, plastic-free laminates, the company is assisting more than 500 brands in moving away from conventional packaging made of foil and plastic.
By introducing its direct-to-consumer (D2C) line, Bambrew hopes to put its innovative sustainable materials in the hands of eco-aware customers. The upcoming months will see the release of the new line of everyday packaging necessities.
The company wants to turn a profit in the upcoming year and hopes to reach a revenue milestone of Rs 120 crore. Additionally, it intends to expand the range of products it offers in order to cater to industries that move quickly, like personal care and quick commerce, with a focus on high-performance packaging materials that are recyclable and compostable.
