Funding Alert

Bumboo Raises Angel Funding to Expand Sustainable Packaging Solutions Globally

• ByStartupStory     |    December 3, 2024

Imaga Trade and Craft Pvt Ltd, operating under the brand name Bumboo, has secured its first round of angel funding from prominent industry leaders for an undisclosed amount. The funding round included participation from Rohan Bhargava (Co-founder of CashKaro), Saurabh Gupta (CEO and Co-founder of UrbanPiper), Shashank Bijapur (Founder of SpotDraft), Rajneil Kamath (Former Google and NC Media), Harikrishnan M (DMart), Sridhar V (Microsoft), and Rajat Jain (Think Wealth).

The funds will drive Bumboo’s expansion in both Indian and global markets. Founded in 2019 by Anirudh Balakrishnan (Bala), Rohit Keshan, and Praveen Kumar, the company leverages agricultural waste like sugarcane bagasse and wheat straw to create eco-friendly packaging solutions. This innovative approach addresses the pressing challenges of waste management and air pollution, particularly in cities like Delhi, where crop burning significantly impacts air quality.

“We are excited about the trust and confidence our investors have shown in us. This funding will help us scale operations and bring sustainable solutions to more businesses in India and globally,” said Anirudh Balakrishnan (Bala), Co-founder of Bumboo.

Bumboo claims to have served over 3,500 businesses, including well-known names like Zomato, Swiggy, ITC, Blue Tokai, Curefoods, Chaayos, and Barbeque Nation. The company offers over 50 plastic-free alternatives tailored for the food service industry, targeting the rapidly growing cloud kitchen and food delivery sectors.

“Bumboo’s unique approach to transforming agricultural waste into packaging solutions aligns perfectly with the urgent need for sustainable practices in today’s world. We are thrilled to support them on this journey,” said Rohan Bhargava, Co-founder of CashKaro.

With its headquarters in New Delhi and operations in Bengaluru and Mumbai, Bumboo is poised to disrupt the sustainable packaging market. The brand’s focus on reducing single-use plastics and supporting circular economy practices resonates strongly with environmentally conscious businesses and consumers.

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