Investment Round for Biotech Startup Zerocircle
Biotech company Zerocircle has successfully secured Rs 20 crore in a recent funding round, led by Rainmatter, co-founded by Nithin Kamath of Zerodha. This funding round also attracted investment from several early-stage venture capital firms, including:
- 1Crowd
- VC Grid
- 7th Gen Ventures
- Environmental advocate Trudie Styler
The funds raised will be utilised for:
- Scaling up manufacturing processes
- Optimising the supply chain
- Expanding the team
About Zerocircle
Founded in 2020 by Neha Jain, Zerocircle focuses on creating eco-friendly packaging solutions made from seaweed, aimed at replacing damaging petrochemical-based materials. The product line features:
- Coated packaging for hamburger boxes
- Containers for fried foods
- Bakery packaging
- Food trays
The Pune-based startup projects that its total production capacity will surpass 3,000 tonnes annually by 2028, covering various product categories including:
- Coated paperboards
- Food boxes
- Advanced coatings
Zerocircle is currently operational in Europe and is exploring opportunities to expand its reach into additional markets, particularly within the GCC region.