Assam-Based startup ZERUND raises Undisclosed Pre-Series A funding
The Start-up is into manufacturing Eco-Friendly Bricks out of waste plastic waste materials.
Guwahati, February 03: ZERUND- innovative brick manufacturing start-up has raised an undisclosed amount in Pre Series A round from NEDFi Venture Capital Ltd. (NVCL). Assam based start-up has raised a total of INR 4 crore in total, including the current round.
Started in 2018 by Rupam Choudhury, Mousum Talukdar and David Pratim Gogoi, ZERUND provides eco-friendly, cost-effective, crack/earthquake resistant, lightweight bricks made from waste plastic and other waste materials as ingredients. The brand currently operates out of its manufacturing facility in Pathsala, Assam.
On the Fund Raising, David Pratim Gogoi, Co-founder and CEO, ZERUND, affirmed, “The construction market is poised for rigorous innovations and creations. People are opting for more eco-friendly options, which have widened the scope of exploration for the manufacturers too. We have witnessed 85% month-on-month traction in terms of sales, and further to the demand are looking forward to expanding rigorously. By the end of this fiscal year, we expect to register 500% YoY growth. The growth path for entire North East in the recently announced budget by Finance Minister gave us bigger hope to grow faster.”
The brand came up with a building material now known as “ZERUND BRICK”. After getting the product’s patent, it started its commercial production and selling in November 2018.
On the investment, Shri PVSLN Murty, CMD NEDFi & Chairman NVCL said, “The Company fits the NEVF objective of promoting scalable and innovative start-ups in the North-East Region. Through its patent-pending technology, the company has ushered in an innovative product, “ZERUND Bricks”, plastic embedded bricks, which has many advantages over regular bricks available in the market. The bricks are lite weight & resistant towards water and contribute towards environment by recycling waste plastic for its manufacturing.”
On the successful fundraise, Mr. Nikunja Borthakur, Senior CGM, Corporate affairs, Numaligarh refinery limited explained, “After getting the product’s patents with R&D support from Numaligarh refinery limited they started production from November 2018. We are committed to supporting the team and the innovative company in their future endeavours to reach newer heights in the construction material domain”.
The brand will utilize the part of the raised investment to set up a new facility with five times more capacity than the current one. The brand expects to multifold its revenue from the new facility in place.