Cleantech startup Bambrew Grapples an amount of Rs.60cr in series A Funding Round

Bambrew, a cleantech startup, has secured a total of Rs. 60 crore (around $7 million) through a combination of debt and equity in its series A funding round, with Blume Ventures taking the lead. This funding round represents the initial investment for the Bengaluru based company in the year 2024.

Additionally, Blue Ashva Capital, Mumbai Angels, Indus Capital, as well as angel investors such as Sreevathsa Prabhakar, Mandeep Manocha, and RK Narayan, were also contributors in this round.

Bambrew announced that the funds will be allocated to expanding the company's presence in primary packaging for consumer goods, food, and beverages, improving manufacturing capacities, supporting research and development initiatives, and strengthening the team.

Bambrew, established in 2019, is a startup specializing in green packaging. This innovative company provides eco-friendly products crafted from bamboo, sugarcane, and seaweed. Their meticulously handmade and reusable items offer sustainable alternatives to plastic materials.

Bambrew's products are tailored to various industries including fashion, pharmaceuticals, food and beverages, retail, and logistics. The company claims to have effectively stopped more than 20,000 kilograms of plastic waste so far and has fulfilled over 20,000 orders.

Banbrew has accumulated approximately Rs. 80 crore up to this point, which encompasses its initial Funding round of Rs. 18 crore spearheaded by Blue Ashva Capital in 2021. Prior to the most recent Series A funding, Blue Ashva held the largest stake in the company at 13.11%, followed by Suvita Investments.

Bambrew's remarkable growth can be observed through its substantial year-on-year expansion in the previous fiscal year. The company's revenue from operations skyrocketed by 4.7 times, reaching Rs. 44.23 crore in FY23, while it incurred losses of Rs.18 crore during the corresponding period.