This marks Agrileaf’s first fundraiser after being bootstrapped and profitable to date.
Agrileaf, a leading Indian manufacturer and exporter of biodegradable dinnerware, has secured Rs 16 crore in growth funding led by Capital-A and Samarsh Capital.
This investment will enable the industry based in Nidle near Dharmasthala in Dakshina Kannada district to expand its operations in existing markets across the US and Europe, as well as build a consumer-facing brand in India. This marks Agrileaf’s first fundraiser after being bootstrapped and profitable to date.
The round also saw participation from angel investors including Shaji Devekar, Siddharth Bafna, Co-founder of The Nutcracker, Family office of Ved Prakash, Pritie Jain of Bling Mushrooms, Sumeet Bhalotia, Director at Vario Lounge, Dhruv Taneja, Founder – Matchlog and Chiranth Patil- Beta Plus.
Avinas Rao, Founder, Agrileaf, said the funding comes at a pivotal time as the global biodegradable packaging market is anticipated to grow significantly.
According to Mordor Intelligence, the market for biodegradable packaging is expected to reach approximately $140.66 billion by 2029, with a CAGR of around 5.97% from 2024 to 2029. This growth underscores the rising demand for sustainable, compostable solutions driven by environmental awareness and stricter regulations on single-use plastics.
With this investment, Rao said Agrileaf will expand production capacity, enhance its biodegradable dinnerware and packaging line, and deepen its community impact.
source/content: newindianexpress.com (headline edited)