Dharaksha Ecosolutions, a biotech-driven R & D start-up, has secured Rs 24.8 crore (approximately $2.95 million) in a Seed funding round sponsored by Avaana Capital.
The proceeds will be used to enhance its market presence, intensify R&D practices, and expand its production capabilities.
LetsVenture and other organizations had previously spearheaded the $522K fundraising effort for Dharaksha. It was also showcased on Shark Tank India Season 3, where it was awarded an all-shark contract.
Dharaksha Ecosolutions substitutes conventional plastic and petroleum-based packaging with sustainable alternatives derived from agricultural detritus. It produces mycelium-based packaging materials that are entirely biodegradable by utilizing agricultural waste as feedstock.
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The Delhi-based organization endeavors to establish a sustainable substitute for non-biodegradable materials by decomposing, which will complete a circular ecosystem by reintroducing nutrients to the soil.
Dharaksha asserts that it is also developing alternatives to plastic films, which will be produced from extracts produced by mushrooms during the submerged growth stage. These films are biodegradable and impermeable, providing a sustainable alternative to traditional plastic films.
About Dharaksha Ecosolutions
Founded in 2020 by Anand Bodh and Arpit Dhupar, Dharaksha Ecosolutions is an environment-conscious start-up specializing in biodegradable packaging material.
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