Brick Manufacturing Startup ZERUND Raises Pre-series A Funding
ZERUND, a Guwahati-based brick manufacturing startup, has raised an undisclosed amount in a pre-series A funding round from NEDFi Venture Capital Ltd (NVCL). Including this funding round, Zerund has raised a total of Rs 4 crore (around $530,000) in funding.
As per the startup, the freshly raised funds will be utilised to set up a new manufacturing facility with five times the capacity of its current centre in Pathsala, Assam.
Zerund | Plastic Embedded Lightweight Brick
Founded by Rupam Choudhury, Mousum Talukdar and David Pratim Gogoi in 2018, Zerund manufactures eco-friendly, cost-effective bricks called Plastic Embedded Lightweight Bricks. These bricks use waste plastic and other waste materials as ingredients.
Speaking about the development, David Pratim Gogoi, Co-founder and CEO of Zerund, said,
“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 are expecting 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 brick manufacturing startup aims to build its production more and more efficient, making the product quality better, stronger and safer.
Established in August 2016, NVCL (NEDFi Venture Capital Ltd) is a wholly-owned subsidiary of North Eastern Development Finance Corporation Limited (NEDFi), which is a non-banking financial company (NBFC).
NVCL makes investments through the North-East Venture Fund (NEVF), a northeast India-focused venture fund and is a joint initiative of the Ministry of DoNER, NEDFi and SIDBI. Having a corpus of Rs 100 crore, with NEDFi as the sponsor, North-East Venture Fund provides support to innovative and scalable business models from the north-eastern region.
In December 2021, NVCL invested Rs 3 crore in the Assam-based Direct-to-consumer (D2C) tea brand Esah Tea, operated by Ruloi Tea Trading Pvt. Ltd.
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