Pharma-packaging Startup 'Sorich' purses $1 million in Pre-IPO Funding round
In its pre-IPO investment round, pharmaceutical packaging firm Sorich raised $1 million under the direction of BizDateUp.
According to a press release from Sorich, the funds will be used to improve working capital, maximize production capacity, facilitate the development of patented products and the required certifications, and upgrade current machinery to produce high-margin products, such as the recently introduced Heat Transfer Labels.
Sorich, founded in 2011 by Chandrahas Kotian, produces and supplies packaging materials for a range of markets, such as food, personal care, and pharmaceuticals. It produces a variety of goods, including as flexible packaging, coated glassine paper, and aluminum foils. The pharmaceutical, food and dairy, confectionary, and personal care industries use its goods.
Sorich wants to use cutting-edge packaging technology to improve human health worldwide. It asserts that there is a greater need than ever for creative solutions, especially in fields like extrusion laminate and foils resistant to children.
The pharma packaging sector is projected to rise at a CAGR -compound annual growth rate of over 14% and hit 229.9 billion by the year 2027, as per the WPO – Water packaging organization.
An additional $1.8 to 2.4 million in revenue is anticipated from the company's projected expansion into Sikkim, demonstrating its strategic approach to market penetration.
Speaking to the vital funding round, Chandrahas Kotian, Founder of Sorich says, "Recent studies have revealed that thousands of chemicals used in food packaging and production are leaching into the food itself, with over 3,600 chemicals identified in human bodies, some of which pose health risks while little is known about others. This issue extends to pharmaceutical packaging as well. These alarming findings have driven us to develop solutions aimed at preventing such contamination."
Further added, "At Sorich, we are committed to revolutionising pharmaceutical packaging through quality, innovation, and sustainability. Through the investment, we aim to deliver packaging solutions that improve human health and lead the industry with innovative practices in pharmaceutical packaging."
Jeet Chandan, Co-founder of BizDateUp, notes "We are proud to support Sorich in its mission to lead the industry with groundbreaking, health-enhancing packaging”.
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According to a press release from Sorich, the funds will be used to improve working capital, maximize production capacity, facilitate the development of patented products and the required certifications, and upgrade current machinery to produce high-margin products, such as the recently introduced Heat Transfer Labels.
Sorich, founded in 2011 by Chandrahas Kotian, produces and supplies packaging materials for a range of markets, such as food, personal care, and pharmaceuticals. It produces a variety of goods, including as flexible packaging, coated glassine paper, and aluminum foils. The pharmaceutical, food and dairy, confectionary, and personal care industries use its goods.
Sorich wants to use cutting-edge packaging technology to improve human health worldwide. It asserts that there is a greater need than ever for creative solutions, especially in fields like extrusion laminate and foils resistant to children.
The pharma packaging sector is projected to rise at a CAGR -compound annual growth rate of over 14% and hit 229.9 billion by the year 2027, as per the WPO – Water packaging organization.
An additional $1.8 to 2.4 million in revenue is anticipated from the company's projected expansion into Sikkim, demonstrating its strategic approach to market penetration.
Speaking to the vital funding round, Chandrahas Kotian, Founder of Sorich says, "Recent studies have revealed that thousands of chemicals used in food packaging and production are leaching into the food itself, with over 3,600 chemicals identified in human bodies, some of which pose health risks while little is known about others. This issue extends to pharmaceutical packaging as well. These alarming findings have driven us to develop solutions aimed at preventing such contamination."
Further added, "At Sorich, we are committed to revolutionising pharmaceutical packaging through quality, innovation, and sustainability. Through the investment, we aim to deliver packaging solutions that improve human health and lead the industry with innovative practices in pharmaceutical packaging."
Jeet Chandan, Co-founder of BizDateUp, notes "We are proud to support Sorich in its mission to lead the industry with groundbreaking, health-enhancing packaging”.
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