Pakka Limited, a manufacturer of compostable food packaging solutions, has successfully raised Rs 244.7 crore to enhance its research and development activities and expand its production plant.
The company stated its intention to employ the cash for the establishment of a biodegradable flexible packaging facility in Ayodhya, India.
By 2026, the Ayodhya facility should be operational. The company expects the investment to increase its manufacturing plant's capacity.
Read also - MiClient Secures Rs 3.9Cr Seed Funding Round from IAN Group, Others
Pakka will utilise some of the revenues for research and development to make additional biodegradable flexible packaging goods.
Ved Krishna, Group Lead, Pakka, said: "Through our innovations in food service and flexible packaging, we are focused on developing compostable solutions that minimise environmental impact. With our compostable flexible packaging facility, we envision setting a new benchmark for sustainable packaging,"
About Pakka
Founded in 1981, Pakka Limited (located in Ayodhya, India) provides regenerative packaging solutions for food products.
Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:
Startup Success Stories: Discover inspiring tales of startups overcoming challenges and achieving success.
Funding Startup News: Stay updated with the latest news and trends in startup funding and investment.
Startup Insights: Dive into in-depth analyses of various industries and market trends to make informed business decisions.