Dharaksha Ecosolutions Pvt Ltd is pioneering sustainable solutions for a greener future
In a world grappling with mounting environmental challenges, Dharaksha Ecosolutions Private Limited is spearheading a revolutionary approach to tackle pollution and agricultural waste in India. Founded by visionaries Anand Bodh and Arpit Dhupar, this innovative startup is rewriting the rules of sustainability with groundbreaking solutions that promise a cleaner, greener future. Supported under the NIDHI PRAYAS initiative by the Forum for Innovation Incubation Research and Entrepreneurship (FiiRE Goa), Dharaksha is making waves in the domains of environmental sustainability and agritech.
Addressing a Pressing Problem
Northern India faces a significant ecological crisis due to the rampant practice of stubble burning. Farmers, struggling with efficient disposal methods for agricultural residue, often resort to burning, releasing hazardous pollutants into the atmosphere. This practice, combined with the ubiquity of non-biodegradable packaging materials like thermocol and plastic, contributes heavily to air pollution and environmental degradation.
Dharaksha Ecosolutions has stepped in to address these intertwined issues with an innovative approach. By repurposing agricultural waste into sustainable biomaterials, the startup is simultaneously offering an alternative to stubble burning and reducing dependence on unsustainable packaging.
Innovating from Waste to Worth
The centerpiece of Dharaksha’s innovation is the application of mycelium—the root structure of fungi—combined with advanced biotechnology. This unique process transforms agricultural residue into high-performance biodegradable materials. The flagship product is a biodegradable packaging alternative to thermocol and styrofoam that is waterproof, fireproof, antistatic, customisable, and degrades entirely within 60 days.
Such materials extend beyond packaging, finding applications in furniture and construction, showcasing the versatility and scalability of their solution. This innovation not only solves a critical environmental issue but also positions Dharaksha as a front runner in sustainable materials science.
Backed by Visionary Support
Dharaksha’s journey has been buoyed by significant financial backing and recognition. The startup has raised an impressive `24.82 crore (approx. $2.97 million) in a recent funding round led by Avaana Capital, with participation from Momentum Capital, Misfits Capital, and several other prominent investors. This is in addition to a previous funding round of `3.99 crore ($515,000) led by Rainmatter by Zerodha and Momentum Capital.
These investments underscore the market’s confidence in Dharaksha’s vision and execution capabilities. Further, the startup’s Technology Readiness Level (TRL) is at 8, signifying that their products have successfully passed industry-standard tests and are already being deployed by clients.
Milestones and Achievements
Dharaksha has achieved remarkable milestones in a short span. The startup featured where it secured an All Shark Deal, a rare and prestigious achievement on the show. This endorsement by industry veterans highlights the startup’s potential and impact.
Moreover, Dharaksha has been recognized by the Ministry of Environment, Government of India, securing a `5 lakh grant for innovative solutions to combat single-use plastic during the India Plastic Hackathon. The startup also clinched a `3 lakh prize at the National Bio-Entrepreneurship Competition (NBEC), a platform that identifies and rewards groundbreaking bio-entrepreneurial ideas.
Impact beyond Business
Dharaksha’s innovation extends beyond financial success, creating a ripple effect in environmental and social spheres. The startup generated revenue of `54 lakh in the financial year 2023-24 and has provided employment to 85 individuals, including factory workers. By creating jobs and enabling sustainable practices, Dharaksha is contributing to both economic growth and environmental preservation.
A Vision for the Future
As global demand for sustainable alternatives grows, Dharaksha Ecosolutions is poised to scale its operations and expand its product portfolio. By combining science, sustainability, and social impact, Dharaksha exemplifies the power of startups to drive meaningful change.
This remarkable journey from stubble to sustainability is a testament to the ingenuity of Indian entrepreneurs and the potential of government-supported initiatives like NIDHI PRAYAS. Dharaksha is not just a startup; it is a movement towards a more sustainable world.
