Bambrew Secures Rs 60 Cr Funding Led by Blume Ventures to Expand Green Packaging Solutions
Synopsis:
Cleantech startup Bambrew raises Rs 60 crore in a mix of debt and equity series A round led by Blume Ventures. The funds will fuel the company's expansion into primary packaging for consumer goods, food, and beverages, enhance manufacturing capabilities, invest in R&D, and strengthen the team. Founded in 2019, Bambrew offers eco-friendly products made from bamboo, sugarcane, and seaweed, serving as natural alternatives to plastic and preventing over 20,000 kilograms of plastic waste. The company's rapid growth is evident from its year-on-year revenue surge of 4.7X to Rs 44.23 crore in FY23.Key Points:
- Bambrew, a Bengaluru-based cleantech startup, raises Rs 60 crore in a series A round led by Blume Ventures.
- The funding includes a mix of debt and equity and marks the first investment for Bambrew in 2024.
- Blue Ashva Capital, Mumbai Angels, Indus Capital, and angel investors also participated in the round.
- The funds will be utilized to expand Bambrew's reach into primary packaging for consumer goods, food, and beverages.
- Additionally, the investment will enhance manufacturing capabilities, support research and development initiatives, and bolster the team.
- Founded in 2019, Bambrew offers eco-friendly products made from bamboo, sugarcane, and seaweed as natural alternatives to plastic.
- Its handmade and reusable products cater to various sectors including fashion, pharmaceuticals, food and beverages, retail, and logistics.
- Bambrew claims to have prevented over 20,000 kilograms of plastic waste and received over 20,000 orders to date.
- The company has raised around Rs 80 crore so far, including a seed round of Rs 18 crore led by Blue Ashva Capital in 2021.
- Bambrew's revenue from operations surged 4.7X to Rs 44.23 crore in FY23, demonstrating its rapid growth trajectory amidst increasing environmental awareness.
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