PeelON and Famyo Raise Early-Stage Funding The below brands have announced their latest funding rounds.
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Biotech Startup PeelON Secures USD 1 Mn Seed Funding
Biotech startup PeelON, which develops biodegradable and compostable packaging for fresh produce, has raised USD 1 million in a seed funding round led by growX Ventures. Boston Venture Group and Clean Energy Venture Group also participated in the round.
The startup said the capital will be utilised to expand research and development and scale its production facilities in Visakhapatnam. It also plans to hire talent across sales in India and the United States, strengthen its R&D and regulatory compliance teams, and roll out marketing campaigns.
Founded in 2020 by Taraka Ramji Moturu and Venkata Ravi Sankar Ummidi, PeelON produces plant-based films designed to extend the shelf life of fruits and vegetables by up to three times. Operating on a business-to-business model, the startup works with farmers, exporters, and retailers to reduce the dependence on single-use plastics in the fresh produce supply chain.
PeelON currently offers two flagship products. PeelON-Fresh provides liners for bulk shipments, while PeelON-Retail+ delivers retail-ready bags that use natural antimicrobial agents and ethylene scavengers to preserve freshness and reduce food spoilage.
The brand's solutions are already being deployed across crops such as cilantro, broccoli, leafy greens, rambutan, and banana. Its clients are based in Maharashtra and Andhra Pradesh, as well as in US states including Texas, Florida, and California. PeelON is also collaborating with universities and compostable material labs in India and the US to expand its product applications.
Looking ahead, PeelON plans to increase capacity in India and the US, enter new markets in Mexico and Southeast Asia, and introduce blockchain-enabled traceability for carbon and shelf-life validation.
Kids' Lifestyle Brand Famyo Raises INR 4 Cr Seed Funding
Bengaluru-based kids' lifestyle brand Famyo has raised INR 4 crore in a seed funding round led by IAN Angel Fund. The round also saw participation from The Chennai Angels, Stoffer Norden, and individual investors including Shivali Vij, Deepank Kumar, Pratik Mathurkar, and Uday Sodhi.
The funds will be directed toward developing proprietary intellectual property, expanding character design, building influencer and performance-driven marketing, and strengthening talent across product, growth, and supply chains.
Founded by Karishma Seetharaman and Ritvik Raj, Famyo focuses on transforming everyday essentials such as blankets, towels, pouches, and school gear into design-first, collectible-led products anchored in original characters and creative themes.
Its portfolio includes glow-in-the-dark blankets, poncho towels, and character-themed accessories, combining playful appeal for children with safety and quality standards valued by parents.
According to the brand, it has already recorded an annual recurring revenue of over INR 12 crore and is growing at 40 percent quarter-on-quarter. Looking ahead, Famyo plans to scale fourfold over the next two years, expand its IP portfolio, and launch new collectible-driven seasonal drops and collaborations.
