The funding will be used toexpand their operations and invest in on boarding restaurants and corporates
Infinity Box, a reusable packaging platform to replace disposable packaging raises pre-seed funding of $800K in led by WEH Ventures with participation from Nithin Kamath’s Rainmatter, Kolte Patil Family office, Ankit Kedia of Capital A and Gaurav Thakkar of Rockstud Capital, amongst others.
Infinity Box aims to address the problem of plastic waste by replacing single-use plastic containers with re-usable Tupperware quality containers of various sizes. These boxes are stored at partner restaurants of the delivery service, and customers have an option to opt-in for reusable containers at no extra cost. If the customer opts in, the partner restaurant packs food in reusable containers and scans the QR codes on the containers. Then food is delivered by Swiggy as it would have been earlier. Infinity box collects the used containers from the customers at the designated time and these are washed using a multi-step lab-certified chemical washing process, and sent back to the partner restaurants for re-use.
This model can be used for Restaurants, Food Delivery, Subscription models, Corporate Campuses, universities, hospitals and more. The startup has a team of 50 plus people across Bangalore and Mumbai.The funding will be used toexpand their operations and invest in on boarding restaurants and corporates.
Infinity Box founders include Shashwat Gangwal, who is Founder and CEO. Shashwat is from IIT Kharagpur and also holds a Masters in Economics. Co- founder, Keshav Godala, who heads Product is also from IIT Kharagpur with Masters in Economics.
On this seed investment round, Shashwat Gangwal said, “Infinity Box was born out of our interest and passion to save the planet from the impact of disposable plastic, we are indeed very excited and equally delighted with this seed round, it just reiterates the fact that the harmful impact of plastic waste is real and if tackled now, we can still ensure to leave a cleaner world for the next generation. For us at Infinity Box, this funding is a bigger validation of the cause and the solution we have built to reduce the use of plastic waste.”
Rohit Krishna, Partner at WEH Ventures, added,“We believe this is a hard but a very pertinent problem to be solved and every conversation we’ve had with Shashwat has re-iterated our belief that he is the right person to build this platform. There is a strong tailwind from consumers who are now demanding better, climate-friendly solutions from platforms and if you can provide this at a no-added cost to the consumer, then this has the potential to scale really fast”
Source : bwdisrupt.businessworld
