Sustainable Bricks Manuf Zerund Raises US$ One Mn Funding
Zerund, a Guwahati-based manufacturer of sustainable bricks, has raised US$ one mn (around Rs 7.8 crore) funding from a clutch of strategic investors, including Dreamweaver Investments. The investment was facilitated through the Gruhas ASPIRE accelerator programme, a JV of Gruhas Proptech Fund, The DLF Family office, and Anthill Ventures. “We are on track to boost our annual production nine-fold to 2.3 crore bricks by 2026 in line with the expanding demand for sustainable bricks,” Zerund Co-Founder and Chief Executive Officer David Gogoi said. The investors in the latest round of fundraising exercise comprise experts with an “in-depth knowledge” of the property-technology space, he added. He further said that the company will use the new funding to increase its annual production capacity, which stands at more than 25 lakh bricks at present. The amount will also be utilized in enhancing the firm’s sales and distribution network beyond Assam to other Indian states in the coming months. Investor Gruhas Proptech Fund Co-Founder Abhijeet Pai said, “Bricks are the fundamental building blocks in construction, and innovations such as Zerund’s product lie at the heart of Gruhas Proptech’s focus on decarbonizing construction and real estate. “We will work closely with the Zerund team as they scale their business to meet the increased emphasis on sustainability to future-proof the construction industry”. In 2021 also, Zerund had raised Rs 4 crore from investors, including NEDFi Venture Capital Ltd (NVCL) and Villgro Foundation. The company manufactures high-grade and lightweight bricks, which utilises 70 percent of waste material, including plastic and fly ash, sourced from the NTPC plant in the Kokrajhar district of Assam.
Tags : Sustainable Bricks Manuf Zerund Funding manufacturer investors Dreamweaver Investments Co-Founder CEO David Gogoi Gruhas Proptech Fund Co-Founder Abhijeet Pai