Agrileaf, a biodegradable tableware maker and exporter, has obtained Rs 16 crore which comes to about USD 2 million in growth capital sponsored by Capital-A and Samarsh Capital. Angel investors who participated in the round included Shaji Devekar, Siddharth Bafna, Ved Prakash's family office, Pritie Jain, Sumeet Bhalotia, Dhruv Taneja, and Chiranth Patil.
The new funds will be used to extend its operations in existing markets in the United States and Europe, launch a consumer-facing brand in India, and increase production capacity.
Agrileaf, created in 2019 by Avinash Rao and Athishay Jain, is an areca leaf tableware manufacturer and exporter that provides high-quality items with eco-friendly characteristics. The company combines a strong supply chain for areca leaf collecting with modern robotics and AI-driven quality control to produce high-quality, backyard biodegradable goods that exceed both market and environmental requirements.
According to market research, the biodegradable packaging industry is anticipated to reach USD 140.66 billion by 2029, growing at a CAGR of around 5.97% between 2024 and 2029.
The Mangalore-based startup offers a sustainable, high-strength alternative to plastic, paper, and bagasse plates. It wants to support local areca producers through ethical sourcing and to promote a zero-waste, community-centered future with environmentally friendly solutions available worldwide.
The company aims to produce up to 300,000 dinnerware products each day by the end of 2025 and has created over 1,000 employment opportunities to promote rural economic development.
It competes with other brands in this category, including VerTerra Dinnerware, SM Areca Leaf Plate Eco-Friendly Products, and Vegware.
