Fibmold, founded in October 2022 by Param Gandhi and Vaibhav Garg, creates environmentally friendly, molded fiber packaging materials that imitate the functionality of hard plastics.
According to the business, its packaging goods are made from natural fibers such as bamboo, bagasse, husk, wheat straw, and even waste paper, and are suited to particular needs. These items are completely recyclable and biodegradable. Fibmold claims that by using their eco-friendly packaging solutions, businesses can move away from single-use plastics.
While China leads in the manufacturing and sale of advanced molded fiber packaging, India’s sector is still in its early phases, according to the business.
Commenting on this, cofounder Gandhi said, “The sustainable packaging industry is a $300 Bn opportunity. At Fibmold, we aim to assist brands globally in transitioning to eco-friendly packaging alternatives and ultimately eliminate their reliance on single-use plastics.”
Garg went on to say that the promise of sustainable packaging in replacing single-use plastics is due to its performance parity, cost competitiveness, and speed to market.
Omnivore’s $150 million Omnivore Agritech & Climate Sustainability Fund is making its second investment.
In India, Fibmold competes directly with Cirkla, which raised $3 million in investment in September to grow its operations, develop its sales staff, and innovate in technology.
According to an IMARC analysis, the Indian green packaging industry will develop at a CAGR of 7.24% by 2028.
Sustainability has become a critical issue for companies of all sizes. As a result, the number of entrepreneurs providing sustainable solutions has increased.
As part of the third edition of Vedanta Spark, mining company Vedanta announced intentions to sponsor over 100 entrepreneurs proposing sustainable solutions in August.
As part of the third edition of Vedanta Spark, mining company Vedanta announced intentions to sponsor over 100 entrepreneurs proposing sustainable solutions in August.
In addition, in June, Avaana Capital raised $70 million for its first close in the Avaana Climate and Sustainability Fund.
As customers want more ecologically friendly goods, sustainable packaging is becoming crucial. A slew of new sustainable packaging concepts are expected to emerge in 2023. This blog article will look at the most recent developments in sustainable packaging, including data and expert perspectives.
Another trend that is gaining traction is recyclable packaging. Brown Packaging predicts that by 2023, more enterprises will be adopting recyclable materials like paper and cardboard for packaging. This is encouraging given that just 9% of plastic gets recycled worldwide. Companies may lessen their environmental effect while still addressing customer demand for sustainable goods by adopting recyclable materials.
