Hyderabad-based Bollant Industries raises funds from Ratan TataTausif Alam
Hyderabad-based Bollant Industries has raised funding from Ratan Tata. During December last year, in an exclusive interview with Yourstory, the company had announced that after raising Rs 9 crore in its first round of funding, it was planning to raise another Rs 13 crore.
Launched in 2012 by Srikanth Bolla, Bollant Industries manufactures eco-friendly paper and biodegradable products and provides mainstream employment to several hundred differently-abled people. Bollant’s existing investors’ list includes Ravi Mantha, Angel Investor; S.P. Reddy of SLN Terminus, Kiran Grandhi of GMR Group, Satish Reddy of Dr. Reddy's Laboratories and Srini Raju of Peepul Capital. Ravi Mantha is also at the position of director at Bollant Industries.
“We found that packaging in India was a fragmented, cottage-level industry with lots of room for high-quality players to come in and grow. This new investment will give a huge boost to our already rocket-fuelled growth plans,” says Srikanth.
The company claims to have increased sales at 20 per cent a month since inception. The company currently employs 400 workers across five operating plants in Telangana and Karnataka. A new mega-plant is in the works at Sri City Special Economic Zone in Andhra Pradesh. It also says that it is mid-way through a Rs 14 crore angel investment round that will help the company achieve its target of Rs 100 crore revenue in two-and-a-half years. Currently, the company is valued at Rs 50 crore.
Ratan Tata is on investment spree. In the past two years, he has invested in almost every segment like e-commerce, healthcare, food tech, finance, technology and clean energy. The investment in Bollant Industries is his first foray into a manufacturing business.