Rainmatter Leads Econovus Packaging’s INR 40 Cr pre-Series A Round

Econovus Packaging, a Pune-based engineered sustainable packaging company, has raised INR 40 crore in a pre-Series A funding round by Rainmatter by Zerodha and with participation from Rockstud Capital.

It is the first institutional round for Econovus, which has remained bootstrapped and profitable since inception in January, 2019.

Founded by Ramesh Prasad, Econovus provides end-to-end packaging and design solutions. The company leverages its engineered and IP-backed materials, space optimisation and design-to-cost methodology to cut customers’ packaging carbon footprint and total cost of ownership significantly.

Its portfolio spans UN-certified lithium-ion battery packaging, heavy-duty export packaging, returnable and expendable packaging and automotive packaging across CKD, SKD and CBU formats.

The company says funding will help deepen the company’s penetration into critical, high-growth sectors, extend sustainable packaging platforms across automotive, lithium-ion battery, solar infrastructure, steel, defense and broader industrial supply chains.

“India’s manufacturing future will require packaging that is engineered, digital and sustainable. Over the last seven years, Econovus has built the design, engineering and manufacturing base to deliver green packaging solutions that cut both carbon and cost for our customers. The investment enables us to scale this platform and accelerate the industry’s transition to a zero-waste packaging future,” Founder and MD Prasad said in a statement. 

“Conventional industrial packaging remains a significant source of avoidable cost, material waste and emissions in Indian manufacturing. Most of it is wood-based or single-use, and it sits invisibly inside the cost structure of every shipment. Econnovus’ packaging reduces logistics costs, container utilisation losses and the carbon footprint of supply chains across automotive, electronics, clean energy, industrial machinery electrical equipment.

What makes this hard is not identifying the waste, it is building packaging that OEMs actually switch to. Their high quality engineering ensures that recyclable, lighter and cheaper all hold at once, at production scale, without asking the customer to compromise,” added Abhinav Singh Negi, Lead – Climate and Deep Tech, Rainmatter.

Rainmatter recently invested in Karo Sambhav, a Gururgram-based circular economy and recycling company,

Founded in 2017 by Pranshu Singhal, Karo Sambhav operates two recycling facilities, has established collection channels in more than 50 cities across India, and has channelized more than 150,000 metric tonnes of waste toward responsible recycling. The company works across e-waste, batteries, glass, and other end-of-life material streams, supported by a technology platform for transparency and traceability.