Mangalore-based Agrileaf, a manufacturer and exporter of biodegradable dinnerware, has raised ₹16 crore (~$2 million) in growth funding. The round was co-led by Capital-A and Samarsh Capital, with participation from notable angel investors, including Shaji Devekar, Siddharth Bafna, the family office of Ved Prakash, Pritie Jain, Sumeet Bhalotia, Dhruv Taneja, and Chiranth Patil.
The newly acquired funds will bolster Agrileaf’s operations in existing markets across the US and Europe, aid in building a consumer-facing brand in India, and enhance production capacity.
Founded in 2019 by Avinash Rao and Athishay Jain, Agrileaf specializes in areca leaf tableware. The company’s innovative approach integrates a sustainable areca leaf collection supply chain with advanced robotics and AI-driven quality control to deliver backyard-compostable products. These products are designed to meet both market demand and environmental standards.
A Growing Market Opportunity
The global biodegradable packaging market is projected to reach approximately $140.66 billion by 2029, growing at a compound annual growth rate (CAGR) of 5.97% from 2024 to 2029. Agrileaf is poised to capitalize on this growth with its eco-friendly alternatives to plastic, paper, and bagasse-based tableware.
The company aims to produce up to 300,000 dinnerware products daily by the end of 2025, with its current efforts supporting over 1,000 jobs. By responsibly sourcing areca leaves from local farmers, Agrileaf fosters rural economic development while promoting zero-waste manufacturing practices.
Advancing Sustainability
Agrileaf provides high-strength, sustainable alternatives to conventional dinnerware, competing with industry players like VerTerra Dinnerware, SM Areca Leaf Plate Eco-Friendly Products, and Vegware. The company’s mission extends beyond products, as it strives to create a community-centered, eco-friendly future through scalable, innovative solutions.
This growth funding marks a significant milestone for Agrileaf, enabling the company to strengthen its global presence and accelerate its mission to make sustainable, high-quality dinnerware a mainstream choice.
