Powered by

Home Funding News

Bumboo has Secured its First Round of Angel Funding

The funds will help Bumboo expand in India and globally. The company has already worked with over 3,500 businesses, including well-known names like Zomato, Swiggy, ITC, Blue Tokai, Curefoods, Chaayos, and Barbeque Nation.

By Ayushi Jain
New Update
Bumboo has Secured its First Round of Angel Funding

Imaga Trade and Craft Pvt Ltd, known as Bumboo, has raised its first angel funding round from industry leaders, though the amount is not disclosed.

Investors in this round include Rohan Bhargava (Co-founder of CashKaro), Saurabh Gupta (CEO of UrbanPiper), Shashank Bijapur (Founder of SpotDraft), Rajneil Kamath (Former Google), Harikrishnan M (DMart), Sridhar V (Microsoft), and Rajat Jain (Think Wealth).

Funding Utilisation

The funds will help Bumboo expand in India and globally. The company has already worked with over 3,500 businesses, including well-known names like Zomato, Swiggy, ITC, Blue Tokai, Curefoods, Chaayos, and Barbeque Nation.

Founded in 2019 by Anirudh Balakrishnan (Bala), Rohit Keshan, and Praveen Kumar, Bumboo turns agricultural waste, like sugarcane bagasse and wheat straw, into eco-friendly packaging solutions.

Read also - Nazara Invests INR 196 Crores in Gaming and Entertainment Growth

This method helps solve waste management and air pollution issues, especially in cities like Delhi, where crop burning affects air quality.

Bumboo is based in New Delhi, with offices in Bengaluru and Mumbai. It offers over 50 plastic alternatives designed for the food service industry, focusing on the growing cloud kitchen and food delivery market.

About Bumboo

Bumboo focuses on promoting products that encourage responsible choices. They achieve this through a deep understanding of supply chains. It also achieve by working with different businesses to connect them with the right products and markets.

Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:

Startup Stories: Discover inspiring tales of startups overcoming challenges and achieving success.

Startup Funding News: Stay updated with the latest news and trends in startup funding and investment.

Startup News - Stay updated with the latest startup news and trends. Your go-to source for startup ecosystem updates.

Read the Next Article

Godrej Properties Limited has Secured INR 6,000 cr through the QIP route

GPL intends to use the net proceeds received from this issue to build a project pipeline that allows it to scale the business rapidly in the years ahead.

By Ayushi Jain
New Update
Godrej Properties Limited  has Secured INR 6,000 cr through the QIP route

Godrej Properties Limited (GPL) , a leading national real estate developer, today announced that it has raised INR 6,000 crore through the QIP route.

The issue saw a strong demand of ~4X the size of the QIP and was fully covered with long only demand. The issue also had a healthy mix of leading international and domestic investors including GIC, Blackrock, Aberdeen, Norges Bank, SBI Pension, and ICICI Prudential life Insurance.  

As a result of the QIP, GPL’s Net Worth has increased by more than 50% while the equity dilution was 7.68%. GPL’s gearing ratio will come down to below 0.2:1 from 0.7:1 as of September 30, 2024. 

With bookings growth of 56% in FY23, 84% in FY24 and 90% in H1 FY25, GPL has achieved a tremendous growth trajectory in recent years and is well positioned to substantially surpass its FY25 booking value guidance of 27K crore.  

Read also - MATH and Google Join Forces for AI Startup Bootcamp in Hyderabad

GPL intends to use the net proceeds received from this issue to build a project pipeline that allows it to scale the business rapidly in the years ahead. GPL has already surpassed its business development guidance for FY25 of Rs 20,000 crores of estimated booking value in the first 7 months of the year and continues to have strong visibility for rest of the year. 

Godrej Properties was the largest real estate developer in India by bookings in FY25 and the fastest growing large business in India across sectors in FY24 with sales growth of 84%. Jeffries, Morgan Stanley, Bank of America, and Kotak were the bankers for the QIP. 

Mr. Pirojsha Godrej, Executive Chairperson, Godrej Properties Limited, said: “We are delighted with the response to our QIP process. We greatly appreciate the confidence and support of the investment community and will do our best to ensure we utilize this capital wisely.   Godrej Properties has reset its scale in the recent years with bookings growth of 56% in FY 23 and 84% in FY 24.  GPL is well positioned to deliver a 3rd consecutive year of rapid growth in booking value with 90% growth in H1 bookings, launches planned across 7 cities in Q3, and an even stronger launch pipeline for Q4. This capital raise will allow GPL to significantly enhance its business development portfolio while maintaining a tremendously strong balance sheet. We remain focused on building scale through continued market share gains and margin expansion.”

About Godrej Properties Limited:  

Godrej Properties brings the Godrej Industries Group philosophy of innovation, sustainability, and excellence to the real estate industry. Each Godrej Properties development combines a 127-year legacy of excellence and trust with a commitment to cutting edge design, technology, and sustainability. In FY 2024, Godrej Properties emerged as the largest developer in India by the value of residential sales achieved. 

Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:

Startup Stories: Discover inspiring tales of startups overcoming challenges and achieving success.

Startup Funding News: Stay updated with the latest news and trends in startup funding and investment.

Startup News - Stay updated with the latest startup news and trends. Your go-to source for startup ecosystem updates.