1 April 2024 – Bengaluru-based cleantech startup Bambrew has successfully raised Rs 60 crore (approximately $7 million) in a Series A funding round led by Blume Ventures. This marks the company’s first investment in 2024 and signifies a significant milestone in its growth journey.
Bambrew, founded in 2019, specializes in providing eco-friendly packaging solutions made from sustainable materials like bamboo, sugarcane, and seaweed. The recent funding infusion, supported by Blue Ashva Capital, Mumbai Angels, Indus Capital, and prominent angel investors, will fuel Bambrew’s expansion initiatives. The company plans to enhance its manufacturing capabilities, invest in research and development, and strengthen its team to further penetrate the market.
With a diverse range of offerings catering to sectors such as fashion, pharmaceuticals, food and beverages, retail, and logistics, Bambrew has positioned itself as a leader in sustainable packaging solutions. Notably, the company has prevented over 20,000 kilograms of plastic waste and fulfilled more than 20,000 orders, underlining its commitment to environmental sustainability.
Prior to this Series A round, Bambrew had secured approximately Rs 80 crore in funding, including a seed round led by Blue Ashva Capital in 2021. Blue Ashva Capital was the largest external stakeholder in the company before the latest investment.
Despite facing challenges, Bambrew has demonstrated remarkable growth, evident from its impressive financial performance in the previous fiscal year. With revenue from operations soaring 4.7 times to Rs 44.23 crore, the company continues to pave the way for sustainable packaging solutions in India and beyond.
