Saturday, June 22, 2024
HomeStart UpBamboo products maker Amwoodo raises $1 million in funding

Bamboo products maker Amwoodo raises $1 million in funding

Amwoodo, a manufacturer of bamboo products, secured $1 million in funding from Rainmatter, a venture fund backed by Zerodha. 

The Kolkata-based startup, known for its sustainability focus, plans to utilize the funds mainly for capital expenditures. These expenditures will include upgrading machinery and equipment, providing training to artisans, and supporting expansion efforts.

“Most of the bamboo products sold in India were imported from China. In India, Kolkata was geographically well located near to the northeast and most of the bamboo forest cover was in the northeast regions,” said Agni Mitra, founder of Amwoodo.

“I found that farmers and artisans working in the field don’t have proper machinery and the skills that they need to ramp up production and match the product quality that China is producing. That’s how we started this company,” he added. 

Established in 2019, Amwoodo specializes in producing a variety of bamboo goods, including combs, toothbrushes, razors, slippers, compostable sanitary bags, and towels. They directly procure bamboo from approximately 400 farmers in the northeast region and collaborate with around 380 artisans. The final processing of products to ensure they meet export standards takes place in their factories situated in Howrah, Kolkata.

The startup primarily operates in both the business-to-business (B2B) and business-to-consumer (B2C) sectors. Its prominent clients include well-known hospitality chains like Taj Hotels and The Leela, as well as direct-to-consumer brands such as Himalaya, Man Company, Nat Habit, and Kimirica.

Mitra stated that the startup recorded sales amounting to Rs 21.72 crore in the last financial year, marking a 3.5 times increase compared to the previous year. In the current financial year, the company targets sales of around Rs 60 crore.

Among other players in the sustainability sector offering bamboo-based products are Allter, known for its bamboo diapers, along with Boocane and Beco.

Subscribe To Newsletter


BRL Editor
BRL Editor
Business Review Live covers finance, technology, travel, lifestyle, and everything in between through exclusive interviews and analysis, market statistics, digital video, and an expanded array of content formats.