Bambrew, a sustainable packaging start-up, has raised pre-Series-A funding of $2.35 million from Blue Ashva Capital and Supack Industries.
The round also saw participation from Mumbai Angels and notable angel investors. The latest infusion of funds will be used to build a platform for sourcing green packaging, increase the supply capacity, expand in multiple cities, invest in research and development of new sustainable materials and further strengthen the team.
Commenting on the fundraise, Vaibhav Ananth, founder of Bambrew said, “People and businesses are having increased awareness of the perils of Single-Use Plastic (SUP) usage. We are elated to see the changing consumer behaviours to consider alternatives. This strengthens our vision and belief to reduce the usage of SUP and help make our planet a better place for the current and future generations. Over past 2 years, we have seen 50 times growth and envision further higher growth scale in the upcoming year."
This latest infusion of funds will be used by the company to increase its footprint and supply capacity across metros like Delhi, Mumbai and Kolkata, as well as global markets including US, Europe and the Middle East.