Pakka, a compostable packaging solutions provider based in India, has secured Rs2.44bn ($29.06m) in investment to scale up its production capabilities.
The details of the investors have not been disclosed.
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The company will leverage the funding to develop a compostable flexible packaging facility in Ayodhya, within Uttar Pradesh, Press Trust of India (PTI) reported.
The funding comes after Pakka introduced its compostable flexible packaging products last October.
These products were launched through a collaboration with nutrition brand Brawny Bear.
The company’s latest funding is set to bolster its expansion efforts, with the new facility anticipated to be fully operational by December 2025.
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By GlobalDataAdditionally, Pakka plans to allocate a portion of the investment towards research and development within the compostable flexible packaging sector.
The investment is also projected to double the output of Pakka’s manufacturing plant in Ayodhya.
It will increase the company’s production capacity and strengthen its position in the flexible packaging industry.
Pakka India business head Jagdeep Hira was quoted by PTI as saying: “With this increase in the production of flexible packaging, Pakka can increase its distribution in the market. Our increased capacity will allow us to meet the growing demand for flexible packaging solutions across various sectors.”
Pakka Group lead Ved Krishna added: “This funding will provide us with the much-needed impetus for infrastructural development and research.”
