Cirkla, a company focused on sustainable packaging, has successfully secured approximately $3 million in pre-seed funding. The funding round was led by Matrix Partners India and Stellaris Venture Partners, with additional participation from various angel investors. The newly acquired capital will be directed towards expanding the company's operations, strengthening its sales team, and enhancing its technological capabilities.
Cirkla, headquartered in the United States, operates with a unique three-stage approach to develop and implement eco-friendly packaging solutions. This approach involves portfolio assessment, design and prototyping, and global fulfillment. One of Cirkla's distinctive features is its use of proprietary Life Cycle Assessment (LCA) models to evaluate the environmental impact of a brand's packaging choices.
The company collaborates with teams in the United States, India, and China to manufacture and distribute sustainable packaging solutions across a wide range of categories, including molded fiber, recycled polymers, pulp, and paper. To facilitate production and distribution, Cirkla has established a network of contract manufacturers across Asia, spanning China, Taiwan, Thailand, Vietnam, and India.
Cirkla is led by a trio of co-founders: Vaibhav Goel, an alumnus of IIT Bombay and the Kellogg School of Management; Ankur Gupta, with academic roots in IIT Kharagpur and ISB; and Kapil Bhardwaj, an alumnus of NMIMS and the Indian Institute of Packaging. Notably, co-founder Vaibhav Goel redirected the company's focus six months ago, transitioning it from a food delivery business known as Zume.
Cirkla's primary mission revolves around aiding brands in their efforts to replace virgin plastic materials with sustainable packaging solutions, thereby helping them achieve their eco-friendly packaging goals. Presently, Cirkla boasts a team of 25 dedicated members.
This funding injection represents a significant step for Cirkla, enabling them to expand their operations and continue their mission of promoting sustainable packaging practices. As the global emphasis on environmental sustainability grows, companies like Cirkla play a crucial role in offering eco-conscious solutions to businesses seeking to reduce their ecological footprint.
