- Rainmatter by Zerodha has led a Rs 40 crore pre-Series A funding round in Econovus Packaging, marking its first institutional funding round.
- The funds will be used to establish an integrated manufacturing facility and a dedicated design centre in Pune to support expansion across domestic industrial supply chains and export markets.
- Econovus Packaging has been operating as a bootstrapped and profitable business since its launch in January 2019.
- Econovus Packaging specializes in customized end-to-end packaging solutions for various sectors, including automotive and lithium-ion batteries.
- The company aims to reduce packaging-related carbon footprint and total cost of ownership through its innovative solutions.
- India's engineering exports reached a record $122.43 billion, making it the largest contributor to the country's merchandise exports.
Econovus Packaging has raised Rs 40 crore in a pre-Series A funding round led by Rainmatter by Zerodha, marking its first institutional funding after operating profitably since 2019. The funds will establish a manufacturing facility and design centre in Pune to enhance sustainable packaging solutions.134
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Founded by Ramesh Prasad, Econovus specializes in engineered packaging solutions for sectors including automotive, lithium-ion batteries, solar infrastructure, and defence. The company aims to reduce the carbon footprint and costs associated with packaging, addressing the growing demand for sustainable solutions as India's engineering exports reached a record $122.43 billion, accounting for nearly 28% of total merchandise exports.6
The funding will support the expansion of Econovus' product portfolio, which includes UN-certified lithium-ion battery packaging and heavy-duty export packaging. The company’s approach combines engineered materials and design-to-cost methods to optimize packaging and reduce logistics costs.
Ramesh Prasad stated, “India's manufacturing future will require packaging that is engineered, digital and sustainable.” He emphasized that the investment will help scale their platform and accelerate the transition to a zero-waste packaging future.
Abhinav Singh Negi from Rainmatter highlighted the challenge of creating packaging that is both recyclable and cost-effective, stating, “What makes this hard is not identifying the waste; it is building packaging that OEMs actually switch to.” Econovus is positioned as India's first carbon-neutral industrial packaging company, aiming to lead the market in sustainable solutions.
“Econovus is India's first carbon-neutral industrial packaging company, offering UN-certified solutions for lithium-ion batteries and heavy-duty export packaging. The funding round comes as India's engineering exports hit a record $122.43 billion, accounting for nearly 28% of total merchandise exports, driving demand for sustainable packaging.”
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