Biomaterials startup Ukhi has secured $1.2 million in a pre-seed funding round. The funding round combines equity investment led by 100Unicorns, along with participation from Venture Catalysts and angel investor Avtar Monga, alongside debt funding from SIDBI (Small Industries Development Bank of India).
The Delhi-based company had previously raised $69.6K in an angel round.
The fresh capital will be utilized to scale its production capabilities, advance its materials research, and expand its sustainable packaging solutions globally, Ukhi said in a press release.
Co-founded in 2019 by Priyanka Chauhan, Vishal Vivek, and Sundeep Kumar Tyagi, Ukhi focuses on developing biodegradable biomaterials from agricultural residues. The company aims to empower the packaging industry with its patented, sustainable materials, contributing to the bioeconomy and helping industries transition to eco-friendly practices, fostering a circular economy in the process. It claims to have operations in Haryana and Uttarakhand.
According to Ukhi, it has developed a compostable biomaterial that serves as the foundation for sustainable packaging products. The company’s patent-pending technology leverages lignocellulosic agricultural residues to create scalable, sustainable materials that offer a viable alternative to traditional plastics. The startup aims to create impacts such as reducing plastic pollution, preventing crop burning, and advancing the circular economy.
Ukhi aspires to create an impact with biodegradable and compostable packaging solutions made from agricultural waste, helping industries reduce their environmental footprint. It intends to help companies across industries transition to sustainable, circular solutions, significantly reducing their carbon footprints while driving industry-wide transformation.
It may directly or indirectly compete with other players in this space like Traceless and Advanced Biomaterial Company (previously CIHC).
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