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Cirkla Raises $3 Million Pre-Seed Funding From Matrix Partners India The funds will be utilized to scale operations, strengthen the salesforce and invest in new technologies

By Teena Jose

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Cirkla, a sustainable packaging company, has raised $3 million in a pre-Seed funding round led by Matrix Partners India. The round also saw participation from investors like Stellaris Venture Partners and other prominent angel investors. The funds will be utilized to scale operations, strengthen the salesforce and invest in new technologies.

"It's not often that we find instances where all participants within the value chain (consumers, manufacturers, and government) unite towards a common goal. According to various reports, exceptional potential lies ahead for Cirkla, as the worldwide sustainable packaging sector is anticipated to double in size and exceed $500 billion by the year 2030. We are excited to partner with Matrix and Stellaris on this journey and lead the charge towards revolutionizing the packaging industry to drive a positive environmental impact," said Vaibhav Goel, co-founder and CEO, Cirkla.

Founded in 2023 Vaibhav, Ankur Gupta, and Kapil, Cirkla is on a mission to help brands achieve their sustainability packaging goals through a unique three-step approach: portfolio assessment, design and prototyping and global fulfilment. Usually, brands face formidable challenges in defining the right sustainability metrics, identifying and prototyping viable alternatives and de-risking their supply chain for global manufacturing and delivery. Cirkla said that it aims to address these challenges with its comprehensive end-to-end packaging platform, offering brands the tools and expertise to assess the environmental impact of packaging, develop sustainable alternatives, and facilitate large-scale manufacturing.

"At Matrix, we are excited about investing in technologies that help reduce carbon emissions and create a more sustainable world. We believe Cirkla's sustainable packaging solutions that incorporate advancements in material science to reduce brands' plastic emissions will be a crucial piece in the fight against climate change globally. Vaibhav, Kapil and Ankur bring together extensive experience having worked in sustainable packaging for years and we are very excited to be partners in their journey," said Sudipto Sannigrahi, principal, Matrix Partners India.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
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