Strawcture Eco Raises $375,000 In Seed Funding Round Led By Social Alpha, Villgro Innovations Foundations And Brigade REAP
In India, only 5 per cent of buildings claim to be green buildings under the guidelines of the Indian Green Building Council (IGBC) set up in 2001
Sustainable construction startup, Strawcture Eco, on Thursday announced to have raised $375,000 in seed round led by Social Alpha, Villgro Innovations Foundations and Brigade REAP. The investment round also saw participation from Rahul Talwar and HNIs.
"We are a building material company focused on using alternative fibres to wood and other carbon-intensive raw materials to make value-added products. Our partnership with Social Alpha, Villgro Innovations Foundation, Brigade REAP is aligned to our vision of building a circular economy-based decentralized manufacturing model that uses 100% natural fibres to make our products and boosts livelihoods of local farmers," says Shriti Pandey, CEO, Strawcture Eco.
Apart from contributing significantly to global warming, the real estate sector is also responsible for depleting natural resources. It contributes to an estimated 30 per cent of all GHG emissions in India. This GHG remains embodied in these buildings forever, resulting in an unsustainable growth model. In India, only 5 per cent of buildings claim to be green buildings under the guidelines of the Indian Green Building Council (IGBC) set up in 2001. India is expected to witness strong growth in the green building sector, thus increasing the demand for green building materials said the company in a statement.
"We have been actively looking at the alternative materials space to deliver our vision of a Sustainable Real Estate organisation. Every country in the world today is focused on "Sustainability' and there is significant movement from consumers to adopt Sustainable products. Conservation of forests resulting in the need to look at alternate materials is gaining ground," says Nirupa Shankar, executive director, Brigade Group and director, Brigade REAP.
Founded in 2018 by Shriti Pandey, the Uttar Pradesh-based company aims to reduce the carbon emission in the construction sector by 50 per cent. Strawcture Eco adds value to waste by developing high engineered bio-panels out of agricultural residues. Strawcture Eco prevents stubble burning by creating an alternative application for agricultural waste that provides better incentives to farmers. Further, the construction sector's enormous carbon footprint, coupled with high-water requirements during the lifecycle of construction, makes the company's bio-panels the ideal, impact-driven alternative. The company's revenue has grown by 100% in the last two years despite the COVID-19 situation, and it services clients in more than 11 states. Some of its key clients include ICICI Infrastructures, Heritage Experiential International School, Jayadeva Hospital, and SELCO Foundation for numerous healthcare projects.