Fri Dec 06 15:09:50 UTC 2024: ## Agrileaf Secures ₹16 Crore in Funding to Expand Sustainable Dinnerware Production
**Mangaluru, Karnataka – December 6, 2024** – Agrileaf, a Dharmasthala-based manufacturer and exporter of biodegradable areca leaf dinnerware, announced today that it has secured ₹16 crore in growth funding. The investment round was led by Capital-A and Samarsh Capital, marking Agrileaf’s first external funding after achieving profitability through bootstrapping.
The company plans to utilize the funds to expand its operations in the U.S. and Europe, launch a consumer-facing brand in India, and increase production capacity to reach two lakh dinnerware products daily by the end of 2025. Agrileaf currently sources areca leaves from farmers in Shivamogga, Udupi, and Dakshina Kannada districts, employing over 1,000 people in the process. The investment will also allow for enhancements to its biodegradable dinnerware and packaging lines, further strengthening its commitment to sustainability.
Agrileaf integrates robotics and AI-driven quality control into its supply chain, ensuring high-quality, backyard-compostable products. Co-founder Avinash Rao emphasized the company’s dedication to community impact and environmental responsibility. He highlighted the plan to establish 10 areca leaf collection centers by the end of the fiscal year, leveraging the network of Farmer Producer Organisations (FPOs) in the region.
Co-founder Athishay Jain noted that India currently exports ₹30-₹35 crore worth of areca leaf dinnerware monthly, suggesting significant potential for Agrileaf’s expansion in the global export market. The investment, he said, will significantly contribute to achieving this growth. The funding, both co-founders agree, will allow Agrileaf to scale operations, improve technology, and continue to create positive social and environmental change.
First Piper 