SUMMARY
- Ukhi has secured $1.2 million in a pre-seed funding round.
- This round included equity investment from 100Unicorns and contribution from Venture Catalysts among others.
- The company has also previously raised $69.6K in funding from angel investors.
Biomaterials startup Ukhi has secured $1.2 million in a pre-seed funding round. This round included equity investment from 100Unicorns and contribution from Venture Catalysts, along with support from angel investor Avtar Monga and a debt funding from SIDBI (Small Industries Development Bank of India).
The company has also previously raised $69.6K in funding from angel investors.
Ukhi shared in a press release that the fresh funds will be used to enhance its production capabilities, further develop its materials research, and expand its sustainable packaging solutions worldwide.
Founded in 2019 by Priyanka Chauhan, Vishal Vivek, and Sundeep Kumar Tyagi, Ukhi creates biodegradable biomaterials from agricultural waste. The company plans to revolutionize the packaging sector with its innovative, sustainable materials, contributing to the bioeconomy and aiding industries in adopting greener practices, thereby promoting a circular economy. It claims to have operations in Haryana and Uttarakhand.
Delhi-based Ukhi has developed a compostable biomaterial that forms the basis of its sustainable packaging products. The company’s innovative technology, that awaits patent, uses lignocellulosic agricultural residues to produce scalable, sustainable materials that offer a sustainable alternative to conventional plastics. The startup aims to address environmental issues such as plastic pollution, prevent the burning of crops, and advance the circular economy.
Ukhi aims to develop biodegradable and compostable packaging solutions from agricultural waste, assisting industries in reducing their environmental impact. It plans to support companies across various sectors in transitioning to sustainable, circular solutions, significantly lowering their carbon footprints and driving industry-wide change.
Its competitors in this space include the likes of Traceless and Advanced Biomaterial Company (previously CIHC).
