Bengaluru-based cleantech startup Bambrew has recently announced a significant milestone in its journey towards sustainable packaging solutions. The company raised Rs 60 crore (approximately $7 million) in a series A funding round, with Blume Ventures leading the investment charge. This infusion of capital marks a pivotal moment for Bambrew in 2024 and underscores the growing investor confidence in environmentally conscious ventures.
Joining Blume Ventures in this funding endeavour are prominent names such as Blue Ashva Capital, Mumbai Angels, and Indus Capital, along with notable angel investors including Sreevathsa Prabhakar, Mandeep Manocha, and RK Narayan. The diverse pool of investors reflects a shared commitment towards fostering innovation in sustainable practices and driving positive environmental impact.
Bambrew, founded in 2019, has carved a niche for itself in the realm of green packaging by offering a diverse range of eco-friendly products crafted from bamboo, sugarcane, and seaweed. These handmade and reusable alternatives to traditional plastic packaging cater to various industries, including fashion, pharmaceuticals, food and beverages, retail, and logistics. Notably, the company prides itself on reducing plastic waste, preventing over 20,000 kilograms of plastic from entering landfills through its products.
With the latest injection of funds, Bambrew aims to expand its footprint in primary packaging for consumer goods, food, and beverages further. The company plans to enhance its manufacturing capabilities, invest in research and development initiatives, and strengthen its team. This strategic allocation of resources underscores Bambrew’s commitment to innovation and sustainability across all facets of its operations.
Bambrew’s impressive growth trajectory is underscored by its robust performance in the previous fiscal year, wherein its revenue from operations surged by 4.7X to reach Rs 44.23 crore. However, the company reported losses amounting to Rs 18 crore during the same period, indicative of the inherent challenges of scaling innovative ventures in sustainability. Nonetheless, Bambrew remains steadfast in its mission to drive positive change through sustainable packaging solutions.
Before this series A funding round, Bambrew had secured approximately Rs 80 crore in funding, including a seed round of Rs 18 crore led by Blue Ashva Capital in 2021. With Blue Ashva previously holding the most significant external stake in the company at 13.11%, the latest investment led by Blume Ventures signifies a substantial milestone in Bambrew’s journey, further solidifying its position as a trailblazer in the sustainable packaging landscape.
As Bambrew embarks on the next phase of its growth journey, fueled by the support of investors who share its vision for a greener future, the company remains poised to revolutionize how packaging is approached and executed across industries. Through relentless innovation, unwavering commitment, and strategic partnerships, Bambrew is paving the way for a more sustainable and eco-conscious tomorrow.
