Econovus Bags ₹40 Cr To Expand Sustainable Packaging Solutions

Pune-based sustainable packaging company Econovus Packaging has raised ₹40 crore in a Pre-Series A funding round led by Rainmatter by Zerodha, with participation from Rockstud Capital, the company said in a statement on Tuesday.

The investment marks Econovus' first institutional funding round after operating as a bootstrapped and profitable business since its launch in January 2019.

The company said the fresh capital will be used to establish an integrated manufacturing facility in Pune and a dedicated design centre to support its expansion across domestic industrial supply chains and export markets.

"India's manufacturing future will require packaging that is engineered, digital and sustainable. Over the last seven years, Econovus has built the design, engineering and manufacturing base to deliver green packaging solutions that cut both carbon and cost for our customers. The investment enables us to scale this platform and accelerate the industry's transition to a zero-waste packaging future," said Ramesh Prasad, Founder and Managing Director of Econovus Packaging.

The company develops customised industrial packaging solutions using engineered materials, proprietary designs and space optimisation techniques. It aims at reducing both packaging-related carbon emissions and the overall cost of ownership for customers.

Its product portfolio includes UN-certified packaging for lithium-ion batteries, heavy-duty export packaging, returnable and expendable packaging, and automotive packaging designed for CKD, SKD and CBU shipments.

Focus on High-Growth Industrial Sectors

According to the company, the funding will help expand its presence in sectors such as automotive, lithium-ion batteries, solar infrastructure, steel, defence and other industrial supply chains.

The company noted that the expansion comes as India's engineering exports reached a record $122.43 billion, making the sector the country's largest merchandise export contributor with nearly 28% of total exports, a trend it believes will drive demand for sustainable industrial packaging solutions.

Econnovus’ packaging reduces logistics costs, container utilisation losses and the carbon footprint of supply chains across automotive, electronics, clean energy, industrial machinery electrical equipment, said Abhinav Singh Negi, Lead – Climate and Deep Tech at Rainmatter.

"What makes this hard is not identifying the waste, it is building packaging that OEMs actually switch to. Their high quality engineering ensures that recyclable, lighter and cheaper all hold at once, at production scale, without asking the customer to compromise," he added.