Rainmatter Backs Econovus Packaging in ₹40 Crore Pre-Series A

The funding will help Econovus deepen its presence in automotive, lithium-ion battery, solar infrastructure, steel, defence and broader industrial supply chains. UN certification is required for shipping lithium-ion batteries, a segment growing with electric vehicle adoption.

The round comes as India's engineering exports reached $122.43 billion, accounting for nearly 28% of the country's total merchandise exports, according to a government report. That growth creates demand for packaging that meets export standards and sustainability requirements.

Rainmatter, Zerodha's climate investment arm, has backed several startups in renewable energy and sustainable materials. Its bet on Econovus signals that industrial packaging is seen as a high-impact area for reducing waste in supply chains.

For traditional packaging companies, the shift toward sustainable materials may accelerate as OEMs seek lighter, recyclable alternatives that do not raise costs. Econovus says its products are lighter and cheaper than conventional options, which it says helps customers reduce expenses while meeting sustainability goals.

The company did not disclose valuation or revenue figures. The Pre-Series A round is expected to fund capacity expansion and research into new packaging formats.