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Agrileaf secures $2 Mn co-led by Capital-A and Samarsh Capital

Entrackr · 19d

Agrileaf, a manufacturer and exporter of biodegradable dinnerware, has secured Rs 16 crore (about $2 million) in growth funding co-led by Capital-A and Samarsh Capital. The round also witnessed participation from angel investors, including Shaji Devekar, Siddharth Bafna, the family office of Ved Prakash, Pritie Jain, Sumeet Bhalotia, Dhruv Taneja, and Chiranth Patil. The fresh funds will be utilized to expand its operations in existing markets across the US and Europe, build a consumer-facing brand in India, and enhance production capacity. Co-founded in 2019 by Avinash Rao and Athishay Jain, Agrileaf is an areca leaf tableware manufacturer and exporter, offering top-quality products aligned with eco-friendly values. The company integrates a robust supply chain of areca leaf collection with advanced robotics and AI-driven quality control to ensure high-quality, backyard-compostable products that meet both market and environmental needs. According to market research, the market for biodegradable packaging is expected to reach approximately $140.66 billion by 2029, with a CAGR of around 5.97% from 2024 to 2029. The Mangalore-based company provides a sustainable, high-strength alternative to plastic, paper, and bagasse plates. It intends to support local areca farmers through responsible sourcing and aims to foster a zero-waste, community-centered future with eco-friendly solutions available worldwide. The company targets producing up to 300,000 dinnerware products daily by the end of 2025 and has created over 1,000 jobs, supporting rural economic development. It competes with other players in this space, such as VerTerra Dinnerware, SM Areca Leaf Plate Eco-Friendly Products, and Vegware.