Sustainable packaging startup Bambrew has raised about $7.5 million (Rs 60 crore) in its Series A funding round led by Blume Ventures. Separately, Sindhuja Microcredit has raised $14.5 million (Rs 120 crore) in fresh financing.
Blume leads $7.5m funding in Bambrew
Sustainable packaging startup Bambrew has raised about $7.5 million (Rs60 crore) in its Series A funding round led by venture capital firm Blume Ventures, it announced on Friday.
The financing, which was a mix of debt and equity, also saw participation from Blue Ashva Capital, Mumbai Angels, and Indus Capital along with angel investors Sreevathsa P (founder and CEO of Servify), Mandeep Manocha (Cashify co-founder), RK Narayan (President at Horizon Industrial Parks).
The funding will be used to expand into primary packaging for FMCG, food & beverages product categories, in expanding manufacturing capabilities, R&D and team, the startup said in a statement.
“We have saved more than 60,000 tonne of single-use plastic and over 125,000 tonne of CO2 emissions by creating revolutionizing materials that are both functional and cost-efficient to plastic. We will utilise the funds to expand our presence in categories across various forms of primary packaging and help brands adopt materials that are more sustainable and functional,” said founder Vaibhav Anant.
Bambrew claims to have grown 100X since its inception in 2019.
Sindhuja Microcredit raises $14.5m
Rural-focussed microfinance institution Sindhuja Microcredit has raised $14.5 million (Rs 120 crore) in its Series C funding round led by GAWA Capital, through its vehicle Huruma Fund, and Oikocredit.
Existing investors Carpediem Capital and Abler Nordic also participated in the round, the startup said in a statement.
The company will deploy the funds to expand the business in its existing geography and foray into new geographies and product lines, the statement added.
Sindhuja Microcredit currently manages 235 branches and has Rs 1,000 crore worth of assets under management (AUM). Through its six-year tenure, Sindhuja claims to have extended micro-loans to more than 400,000 self-employed women micro-entrepreneurs across nine states of India.
