In a significant move for sustainable packaging, Avaana Capital has led a seed funding round for Dharaksha Ecosolutions, raising ₹24.8 crore (approximately $2.95 million). Dharaksha Ecosolutions, co-founded by Anand Bodh and Arpit Dhupar in 2020, focuses on creating biodegradable packaging materials from agricultural waste. This funding will help the company expand its production capabilities, enhance R&D, and strengthen its market presence. Previously featured on Shark Tank India Season 3, Dharaksha Ecosolutions aims to replace conventional plastic with eco-friendly alternatives.
Expanding Production Capabilities
Dharaksha Ecosolutions plans to utilize the seed funding to significantly expand its production capabilities. The company aims to scale up its manufacturing processes to meet the growing demand for sustainable packaging solutions. By increasing production, Dharaksha can cater to a larger market and provide more eco-friendly alternatives to conventional plastic packaging. This expansion is crucial for the company to establish a strong foothold in the market and drive the adoption of sustainable packaging materials.
The funding will also enable Dharaksha to invest in advanced machinery and technology to streamline its production processes. This will not only enhance efficiency but also ensure the quality and consistency of their products. With improved production capabilities, Dharaksha can meet the needs of various industries, including food and beverage, cosmetics, and e-commerce, which are increasingly seeking sustainable packaging solutions.
Moreover, the company plans to set up additional production facilities in strategic locations to reduce transportation costs and carbon footprint. By establishing a decentralized production network, Dharaksha can efficiently serve customers across different regions and minimize the environmental impact associated with long-distance transportation.
Intensifying R&D Efforts
A significant portion of the seed funding will be allocated to intensifying Dharaksha’s research and development efforts. The company is committed to developing innovative and sustainable packaging solutions that can replace conventional plastic and petroleum-based materials. By investing in R&D, Dharaksha aims to stay at the forefront of technological advancements in the field of sustainable packaging.
Dharaksha’s R&D team is focused on exploring new materials and processes to create packaging solutions that are not only biodegradable but also cost-effective and scalable. The company is working on developing mycelium-based packaging materials that utilize agricultural waste as feedstock. These materials are fully biodegradable and can be composted, returning nutrients to the soil and completing a circular ecosystem.
In addition to mycelium-based packaging, Dharaksha is also researching alternatives for plastic films. These films, made from extracts generated by mushrooms in the submerged growth stage, are waterproof and biodegradable. The company is currently conducting third-party testing and market validation for these products, with plans to commercially launch them by next October.
Strengthening Market Presence
With the seed funding, Dharaksha Ecosolutions aims to strengthen its market presence and establish itself as a leader in the sustainable packaging industry. The company plans to implement strategic marketing initiatives to raise awareness about the benefits of biodegradable packaging and drive customer adoption.
Dharaksha will focus on building strong partnerships with key stakeholders, including manufacturers, retailers, and consumers, to promote the use of sustainable packaging solutions. By collaborating with industry leaders, the company can leverage their expertise and networks to expand its reach and influence.
Furthermore, Dharaksha intends to participate in industry events, trade shows, and conferences to showcase its innovative products and engage with potential customers and investors. These platforms will provide valuable opportunities for networking, knowledge sharing, and business development.
To enhance its brand visibility, Dharaksha will also invest in digital marketing campaigns, including social media, content marketing, and search engine optimization. By leveraging online platforms, the company can effectively communicate its value proposition and attract a wider audience.
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