Sustainable packaging player Fibmold attracts $10-M from Omnivore, Accel

Mumbai-based Fibmold, focused on sustainable packaging, has raised USD 10 million in a funding round led by Omnivore Partners and Accel India. Founded in October 2022 by serial entrepreneurs Param Gandhi and Vaibhav Garg, Fibmold claims to be developing eco-friendly, moulded fibre packaging products to replace single-use plastics. These products are manufactured from natural fibres, including bamboo, bagasse, husk, wheat straw, or even waste paper depending on the end-use, and are 100% recyclable and naturally compostable. Fibmold aims to assist brands globally in transitioning to eco-friendly packaging alternatives and ultimately eliminate their reliance on single-use plastics.