Rainmatter led Rs 40 Cr Pre-series A funding raised by Econovus Packaging

In a pre-Series A investment round headed by Rainmatter by Zerodha and involving Rockstud Capital, the engineered sustainable packaging startup Econovus Packaging raised Rs 40 crore.

According to a news release from Econovus, the new funding will be utilized to develop its sustainable packaging platform across automotive, lithium-ion batteries, solar infrastructure, steel, defense, and wider industrial supply chains, among other high-growth industries.

Econovus, which was founded in January 2019 by Ramesh Prasad, helps clients lower their packaging carbon footprint and total cost of ownership by offering custom end-to-end packaging and design solutions using its engineered, IP-backed materials, space optimization, and design to cost methodology.

UN-certified lithium-ion battery packaging, heavy-duty export packaging, returnable and disposable packaging, and automobile packaging in CKD, SKD, and CBU formats are among the products offered by the Pune-based company.

The Government of India reports that the nation’s engineering exports hit a record $122.43 billion, making the industry the biggest contributor and accounting for about 28% of all goods exports. Demand for superior, globally compliant, and environmentally friendly packaging solutions is anticipated to increase as cross-border industrial supply chains grow.

According to Econovus, their packaging solutions cut the carbon footprint of supply chains in the automotive, electronics, clean energy, industrial machinery, and electrical equipment industries while also lowering logistical costs and improving container utilization.