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Pakka raises Rs 244.7 crore for compostable packaging facility
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Monday, 19 August, 2024, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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Pakka, manufacturer of compostable packaging solutions has raised Rs 244.7 crore, towards giving a major boost to its production capacity. The company plans to establish the world's first compostable flexible packaging facility in Ayodhya. Pakka also looks to invest part of its funding in research and development in this category.
As part of its expansion plans, its facility known as the Jagriti project, is expected to be operational by December 2025. In October 2023, the company had launched its compostable flexible packaging products, partnering with Brawny Bear, a nutrition company.
This new facility will not only increase its production capacity, it will also strengthen its position in the industry, as it targets to increase its distribution in the market, and meet the growing demand for flexible packaging solutions across various sectors.
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