In India, PeelON, a company developing compostable packaging films that extend the shelf-life of food, has raised $1 million in seed funding. The company plans to use the funds to expand R&D and production.
growX ventures led the round for the Visakhapatnam-based biotech. Boston Venture Group, Clean Energy Venture Group, and Climate Angels also participated.
The company’s products have already been used to package cilantro, broccoli, leafy greens, rambutan, and bananas, in both India and the US.