India, July 7 -- Industrial packaging startup Econovus Packaging has raised Rs.40 Cr (about $4.2 Mn) in its maiden institutional funding round. The pre-Series A funding round led by Rainmatter by Zerodha, with participation from Rockstud Capital.

The fresh capital will help the B2B packaging startup expand its presence into high-growth sectors like automotive, lithium-ion batteries, solar infrastructure, steel and defence.

Founded in 2019 by Ramesh Prasad, Econovus provides bespoke, end-to-end industrial packaging and design solutions. It develops industrial packaging solutions using engineered, IP-backed materials, space optimisation and a "design-to-cost" approach to help manufacturers lower packaging costs and reduce carbon emissions...