Mumbai-based sustainable packaging startup Fibmold has raised $10 Million in funding. The funding round was led by Omnivore and Accel.
Founded in October 2022 by Param Gandhi and Vaibhav Garg, Fibmold is developing eco-friendly and sustainable packaging products that can replace single-use plastics.
The products developed by Fibmold are manufactured using natural items including bamboo, husk, wheat straw, etc. As per the brand, all the products that they deliver are 100% recyclable.
“We truly believe moulded fibre is a viable replacement to plastic because of its performance parity, cost competitiveness and speed to market,” Vaibhav Garg co-founder of Fibmold said.
“The sustainable packaging industry is a $300 billion opportunity. At Fibmold, we aim to assist brands globally in transitioning to eco-friendly packaging alternatives and ultimately eliminate their reliance on single-use plastics,” Param Gandhi, co-founder of Fibmold said.
