KOLKATA – Kolkata-based Amwoodo said on Tuesday it had raised $4 million in pre-Series A funding to expand its manufacturing operations and develop its online marketplace.
The funding round was led by Rainmatter, with participation from Adventz Group, Thinkuvate and Caspian, the company said in a statement.
Founded in 2019, Amwoodo makes bamboo-based products intended to replace single-use plastics. Its business includes supplying to corporate clients such as Himalaya Wellness Company, Bombay Shaving Company and ITC Hotels.
The company said the new capital will be used to increase production capacity, add new brands under its “House of Amwoodo” business line and expand its direct-to-consumer presence through its marketplace Ecoconscious. It also said it plans to expand work with communities in bamboo-growing regions.
Agni Mitra, founder and CEO of Amwoodo, said the company would use the investment to scale its operations.
“With this support, we are not just scaling a business; we are fuelling a movement to make eco-conscious living the norm, not the exception,” he said.
Amwoodo previously raised $1 million from Rainmatter. The company operates in India‘s growing sustainable consumer goods sector, which has attracted investment as producers seek alternatives to plastics and governments enforce tighter environmental rules.
Amwoodo said its focus on bamboo was also aimed at supporting income opportunities in rural areas where the crop is cultivated.
The company said the fresh funding would help it respond to increasing demand for its products and strengthen its position in the market.
