An Indore-based firm that specializes in sustainable and environmentally friendly packaging options. Their main offering, Carrabox, is a cutting-edge, biodegradable food packaging box made to cut down on plastic waste in the food sector. The food industry’s primary product, Carrabox, is a recyclable and biodegradable food packaging box that is intended to replace single-use plastic packaging.
Company Name: Carragreen
Founder: Surabhi Shah, Chetna Shah
Product: Carrabox food packaging box
Highlights
- The creators stressed how single-use plastic packaging, especially in the food delivery and takeout sector, harms the environment.
- They drew attention to the dearth of practical, affordable, and sustainable substitutes, which forces companies to continue using plastic packaging.
- Created to meet the needs of food delivery services, cloud kitchens, and restaurants searching for environmentally friendly packaging options.
- The product’s potential environmental impact and sustainability were commended by the sharks.
- Concerns about cost efficiency and whether Carrabox could match the prices of current plastic alternatives while remaining profitable were also raised by some sharks, who questioned the company’s ability to scale and meet high market demand. Competition from well-established packaging manufacturers was also viewed as a significant obstacle.
- Following discussions, the founders agreed to Anupam Mittal and Peyush Bansal’s offer of ₹50 lakhs in exchange for 20% stake.
- Carragreen may now access business insights, networking opportunities, and mentorship to expand its operations and penetrate new markets thanks to the backing of seasoned investors.
- Teaching companies and customers the value of moving to environmentally friendly packaging and proving the financial advantages over plastic will be one of the main obstacles.
- In their pitch, Carragreen presented a novel and urgent solution to the world’s plastic waste issue. Anupam and Peyush were persuaded to invest by the brand’s eco-friendly mission and financial potential, despite discussions about obstacles including competitiveness, scalability, and cost-effectiveness.
The agreement was a major step in increasing Carragreen’s influence and reach in the sustainable packaging space.
Pitch Details
Ask: ₹50 Lakhs for 10% equity.
Deal: After negotiations, Anupam and Peyush together secured a deal for ₹50 Lakhs for 20% Equity.
Investors: The investment came from Anupam Mittal and Peyush Bansal.
Conclusion
Carragreen’s pitch effectively addressed a major environmental issue by highlighting a sustainable and environmentally friendly substitute for plastic food packaging. The company’s creative Carrabox packaging and dedication to sustainability persuaded Anupam Mittal and Peyush Bansal to invest ₹50 Lakhs for 20% equity, despite worries about scalability, competition, and cost-effectiveness. Carragreen is now in a position to grow its business, increase production efficiency, and reach a wider audience thanks to the support of two seasoned sharks.
The agreement offers the brand strategic mentoring in addition to financial support to help it establish itself in the cutthroat sustainable packaging market. Carragreen is a promising firm with a vision for a greener future, and the investment underscores the growing market need for eco-friendly solutions.
Significant findings
- Sustainability-Focused Business
- Market Potential
- Challenges in Scalability
- Investment & Equity
- Mentorship & Growth Strategy
- Consumer Awareness & Adoption
- A Step Towards a Greener Future
