Biotech startup Zerocircle raises Rs 20 Cr led by Rainmatter

Biotech startup Zerocircle has raised Rs 20 crore ($2.3 million) in a new round led by Zerodha co-founder Nithin Kamath’s Rainmatter.

The round also saw participation from early-stage venture capital firms 1Crowd, VC Grid, 7th Gen Ventures, and environmental advocate Trudie Styler, among others.

The proceeds will be used for scaling manufacturing, optimising the supply chain, and expanding the team.

Founded in 2020 by Neha Jain, Zerocirle creates seaweed-based packaging designed to replace harmful petrochemical-based materials. Its product range includes coated packaging for hamburger boxes, fried food containers, bakery packaging, and food trays.

According to the Pune-based startup, the total production capacity is expected to exceed 3,000 tonnes annually by 2028 across product categories, such as coated paperboards, food boxes, and advanced coatings.

The brand is currently operating in Europe and is looking to expand its presence in markets such as the GCC.