Delhi-based biomaterials startup Ukhi has raised $1.2 million in a pre-seed funding round. This round included equity investments led by 100Unicorns, with participation from Venture Catalysts and angel investor Avtar Monga. Debt funding was provided by SIDBI (Small Industries Development Bank of India).
The company had previously secured $69.6K through an angel funding round.
The newly raised capital will be used to enhance Ukhi’s production capabilities, accelerate its research on biomaterials, and scale its eco-friendly packaging solutions globally.
Founded in 2019 by Priyanka Chauhan, Vishal Vivek, and Sundeep Kumar Tyagi, Ukhi specializes in creating biodegradable biomaterials from agricultural residues. The startup aims to drive a bioeconomy by providing the packaging industry with patented sustainable materials, promoting a transition to environmentally friendly practices and supporting a circular economy.
Ukhi’s compostable biomaterial, created from lignocellulosic agricultural residues, forms the basis for its sustainable packaging products. The startup’s patent-pending technology offers scalable alternatives to traditional plastics, addressing critical issues like plastic pollution and crop burning while fostering sustainability.
With operations in Haryana and Uttarakhand, Ukhi aspires to make a significant environmental impact by helping industries reduce their carbon footprints through biodegradable and compostable packaging solutions. The company aims to catalyze a shift toward sustainable practices across industries.
Ukhi faces potential competition from other players in the biomaterials sector, such as Traceless and Advanced Biomaterial Company (formerly CIHC), as it pushes forward in its mission to transform the packaging industry.
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