PC:Yourstory.com
Imaga Trade and Craft Pvt Ltd owned waste management startup, Bumboo has managed to close its first round of angel funding. It managed to raise funding from the hands of industry leaders from the consortium. Though an amount has not been mentioned, the fact that this money will come to help them boost the sustainability efforts on both domestic as well as international market frontiers makes it crucial for the company.
Angel round also managed to attract some very notable investors including Rohan Bhargava who is a co-founder at CashKaro, Saurabh Gupta who heads and co-founded UrbanPiper, Shashank Bijapur who founded SpotDraft, Rajneil Kamath of Google and NC Media in the past, Harikrishnan M from DMart, Sridhar V from Microsoft, and Rajat Jain of Think Wealth. This shows increasing interest and support for startup which focuses on sustainability and waste management.
Founded in 2019 by Anirudh Balakrishnan (Bala), Rohit Keshan, and Praveen Kumar, Bumboo transforms agricultural waste like sugarcane bagasse and wheat straw into sustainable packaging solutions. This innovative approach addresses the issue of waste management while contributing to the fight against air pollution, especially in cities like Delhi, where crop burning is a major environmental issue.
More than 50 plastic alternatives are unique product offerings by Bumboo that specifically cater to the food service industry. Already serving over 3,500 businesses, from prominent names such as Zomato, Swiggy, ITC, Blue Tokai, Curefoods, Chaayos, and Barbeque Nation, Bumboo has already been a part of the rapidly growing cloud kitchen and food delivery markets. This is proof of how Bumboo can accommodate some of the most prominent names in the food industry in addition to being eco-friendly.
The money raised will help Bumboo speed up its expansion plans, thereby allowing the company to reach more clients and enhance its product offerings. As the world focuses on sustainability, Bumboo is in a great position to take advantage of the growing demand for eco-friendly packaging solutions. The startup’s focus on sustainability is in line with the broader trends in consumer behavior, where choices are becoming increasingly important to the environment.
Headquartered in New Delhi with offices in Bengaluru and Mumbai, Bumboo will play an important role in the continuing shift in food service companies toward sustainability. Its solution of transforming agricultural waste into packaging materials contributes to diminishing reliance on single-use plastics while simultaneously creating alternative sources of revenue for local farmers.
Support from angel investors will be a crucial step for Bumboo in providing room for the development of technology refinement and scaling of operations. There is an anticipation that the startup will further innovate its product line while making sure that its solutions are accessible and affordable for so many businesses.
In conclusion, Bumboo’s successful round of angel funding is evidence of the increased awareness of sustainable waste management practices. Given a strong foundation and a bold vision, Bumboo will make a good impact on the packaging industry, resulting in a clean environment and a better future. Going forward, the company would attract further investment and spread its influence into the eco-friendly packaging segment.
