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Cirkla, a sustainable packaging company, has raised $3 million in a pre-seed funding round led by Matrix Partners India and Stellaris Venture Partners, with participation from prominent angel investors.
“The funds raised will be utilized to scale operations, strengthen the salesforce, and invest in new technologies,” Cirkla said.
Founded in 2023 by Vaibhav Goel, Ankur Gupta, and Kapil Bhardwaj, Cirkla helps brands achieve their sustainability packaging objectives through portfolio assessment, alternative packaging solutions, and global distribution.
Commenting on the funding round, Vaibhav Goel, Co-founder and CEO of Cirkla said, “We are excited to partner with Matrix and Stellaris on this journey and lead the charge towards revolutionizing the packaging industry to drive a positive environmental impact.”
Speaking about the investment in Cirkla, Sudipto Sannigrahi, Principal, Matrix Partners India, said, “At Matrix, we are excited about investing in technologies that help reduce carbon emissions and create a more sustainable world. We believe Cirkla’s sustainable packaging solutions that incorporate advancements in material science to reduce brands’ plastic emissions will be a crucial piece in the fight against climate change globally. Vaibhav, Kapil, and Ankur bring together extensive experience having worked in sustainable packaging for years and we are very excited to be partners on their journey.”
Further talking about the investment round, Mayank Jain, Principal at Stellaris Venture Partners, said, “We are thrilled to be chosen as partners in the mission to assist CPG brands worldwide transition from plastic packaging to sustainable and biodegradable alternatives. We believe there is a ‘solution gap’ in the market – while CPG brands are looking for a roadmap and solution to transition to sustainable packaging, manufacturers are seeking specificity in design and material. Cirkla, with its expert-led, asset-light platform is well poised to bridge this gap between brands and manufacturers.”