Internet Innovation Drives Investment: Dharaksha Secures INR 24.8 Cr from Avaana Capital
Internet Funding Boosts Sustainable Packaging Sector
In a significant push, Dharaksha Ecosolutions has raised INR 24.8 Cr ($2.95 Mn) in a seed funding round from Avaana Capital. This funding round saw participation from notable entities like the Shark Tank India team, Vinners Capital, India Angels, and Soonicorn, further solidifying the company’s position in the internet-driven sustainable packaging market.
Strengthening Market Presence
Founded in 2020 by Anand Bodh and Arpit Dhupar, Dharaksha Ecosolutions specializes in developing mycelium-based biodegradable packaging materials sourced from agricultural waste. With the fresh capital, the company is poised to expand its production capabilities, enhance R&D practices, and strengthen its market presence within the sustainable packaging industry.
- 7,000 tons of agricultural waste disposed of safely.
- Vision to create a sustainable packaging alternative.
- Competes with companies like Bambrew and Beco.
Investment Landscape in India
The investment in Dharaksha highlights the growing activity in India's sustainable packaging arena. In recent months, other startups such as Bambrew, which raised INR 60 Cr, have also seen significant investment, signaling robust market growth.
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