Weh Ventures led a seed fundraising round in which InfinityBox Pvt Ltd, a platform for reusable packaging for single-use plastic containers, raised $800,000 (about Rs 6.6 crore).
Nithin Kamath’s Rainmatter, Kolte Patil Family Office, Ankit Kedia of Capital A and Gaurav Thakkar of Rockstud Capital, aslo participated in the funding round, as per reported by VCCircle.
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“Single-use plastic waste is the biggest polluter of our rivers, oceans, and landfills, and a major source of greenhouse gases and global warming. While most of the plastic reduction or recycling initiatives are creating an impact, the problem is too huge and there’s a severe lack of infrastructure,” said Shashwat Gangwal, founder and Chief Executive of InfinityBox.
Infinity Box, a company founded in 2020 by Shashwat Gangwal and Keshav Godala, picks up discarded containers from consumers at the scheduled time.
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Zomato and Swiggy, according to Gangwal, process close to 4 million orders daily, amounting to more than 30,000 tonnes of plastic waste each month. The majority of scrap collectors favour other kinds of plastic garbage. The pandemic has just made this issue worse, and it is still getting worse.
Infinity Box is creating India’s largest reusable packaging platform in an effort to combat the issue of single-use plastic pollution. When delivering food, they swap out single-use plastic containers for reusable Tupperware containers in a range of sizes.
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They developed the concept of InfinityBoxTM after becoming intrigued by the reuse of containers by dabbawalas. a method that makes it easy to handle reverse logistics and allows containers to be reused more than 100 times. Giving back to the environment while consuming your meal in a superior-quality, food-grade container is possible with InfinityBox.