Weh Ventures Leads USD 800K Seed Round For Infinity Box

Advertisements

InfinityBox, a reusable packaging platform for single-use plastic containers, has raised $800 K (approximately Rs 6.6 crore) in a seed funding round led by Weh Ventures, with participation from Nithin Kamath’s Rainmatter and the Kolte Patil Family Office.

By creating reusable packaging platform, Infinity Box hopes to address the issue of single-use plastic pollution. It replace single-use plastic containers in food delivery with reusable Tupperware quality containers of various sizes.

“Single-use plastic waste is the biggest polluter of our rivers, oceans, and landfills, and a major source of greenhouse gases and global warming. While most of the plastic reduction or recycling initiatives are creating an impact, the problem is too huge and there’s a severe lack of infrastructure,” said Shashwat Gangwal, Founder and Chief Executive Officer of InfinityBox.

According to Gangwal, Zomato and Swiggy process nearly 4 million orders per day, resulting in more than 30,000 tonnes of plastic waste per month. The majority of scrap pickers prefer other types of plastic waste. This problem was exacerbated by the pandemic and is still growing.

He added that the boxes are stored at the delivery service’s partner restaurants, and customers can opt in for reusable containers at no extra cost. If the customer chooses to participate, the partner restaurant will pack food in reusable containers and scan the QR codes on the containers. Swiggy/Zomato will deliver the food, as they did previously.

At the designated time, Infinity Box collects used containers from customers, washes them using a multi-step lab-certified chemical washing process, and returns them to the partner restaurants for reuse.



Categories: Other News

Tags: , , , , , ,

Leave a Reply Cancel reply

%%footer%%