Reusable packaging platform InfinityBox Pvt Ltd raises $800,000 from Weh Ventures, others
- ByStartupStory | October 19, 2022
According to a top executive source, InfinityBox Pvt Ltd, a reusable packaging platform for single-use plastic containers, has raised $800,000 (approximately Rs 6.6 crore) in a seed funding round led by Weh Ventures with participation from Nithin Kamath’s Rainmatter, Kolte Patil Family Office, Ankit Kedia of Capital A, and Gaurav Thakkar of Rockstud Capital.
By creating India’s largest reusable packaging platform, Infinity Box hopes to solve the issue of single-use plastic pollution. They replace single-use plastic containers in food delivery with reusable Tupperware-grade containers of various sizes.
Shashwat Gangwal, founder and CEO of InfinityBox, said that Single-use plastic waste is the most contaminating polluter of the rivers, seas, and landfills, as well as a significant source of greenhouse gases and global warming. While most plastic reduction or recycling projects are making a difference, the problem is too large, and there is a critical shortage of infrastructure.
Gangwal further said that Zomato and Swiggy process about 4 million orders every day, resulting in more than 30,000 tonnes of plastic garbage per month. The majority of scrap pickers choose other types of plastic garbage. This problem was aggravated by the epidemic and is still growing. The boxes are held at the delivery service’s partner restaurants, and clients can opt-in for reusable containers at no extra cost. If the consumer chooses to participate, the partner restaurant will put meals in reusable containers and scan the QR codes on the containers. Swiggy/Zomato will deliver the meal as they did previously.
At the scheduled time, Infinity Box collects discarded containers from guests, washes them using a multi-step lab-certified chemical cleaning procedure, and returns them to the partner restaurants for re-use.
Though affected during the pandemic, the company now employs over 50 people and has offices in Bangalore and Mumbai.
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