Upsparks is an early-stage venture fund focused on investing in technology startups and providing the needed support throughout a startup early growth. We invest in people first and are committed to creating value by leveraging our interpersonal networks, strategic partnerships, and deep industry experience.  We collaborate and invest in forward thinking entrepreneurs who work at the frontiers of digital innovation. Upsparks is devoted to early-stage investments and to building tomorrow's market leaders.

Upsparks

LetsVenture is an online funding platform that enables startups looking to raise seed capital to create investment ready profiles online, and connect to accredited investors. The platform also allows startups to get their business plans reviewed by its team as well as connect to mentors. It supports startups in the funding closure process through its commitment-to-closure package. Founded in 2013, LetsVenture uses its funding received from angel investors to expand and rope in more global investors.

LetsVenture

The Amity Innovation Incubator is a pioneering concept in the context of Indian Universities. Supported by DST, Ministry of Science & Technology, GOI, 'Amity Innovation Incubator ' has in a very short time of its existence earned an enviable position for itself with start-ups which have regularly been on top of the innovation curve and have been recognized on platforms like 'The Power of ideas', Read Herring Global winner, Tata NEN and NASSCOM Innovation Awards to name a few.

Amity Innovation Incubator

Blue Ashva Capital is an investment Fund that is backing sustainable and long-term profitable businesses which are solving real challenges and building lasting value in core sectors.

Blue Ashva Capital

Supack Industries manufactures and supplies jumbo boxes, display boxes, die-cut boxes, fitments, coated boxes, and white goods boxes.

Supack Industries

Mumbai Angels is an angle stage investment firm. Mumbai Angels has served as a breeding ground for both plug-in businesses for larger corporations and financial investors seeking incubated businesses ready to scale.

Mumbai Angels

Blume Ventures provides pre-series A and early stage funding to tech-focused/tech-enabled ventures. They are typically the first institutional investors in their portfolio companies and invest for about 8-10 years. They are proponents of a collaborative approach and like to co-invest with like-minded angels and seed funds. They then provide follow-on investments to their stellar portfolio companies.

Blume Ventures

Indus Capital Partners, LLC (with its affiliates, “Indus”) is an employee-owned international alternative investment management firm, offering long/short and long-only equity strategies investing primarily in the Asia Pacific region including Japan, and in emerging markets. The firm was founded in 2000 by former Soros Fund Management partners who had worked together since 1995 and possess on average over 20 years’ investment experience in the Asia Pacific region. In the aggregate Indus manages approximately US$6.2 billion for a diverse client base of over 300 investors, including foundations and university endowments, corporate and public pensions, high net worth individuals, family offices, sovereign wealth funds, and financial institutions. Indus currently offers the following investment strategies: Indus Asia Pacific Fund, Indus Japan Fund, Indus Pacific Opportunities Fund, Indus Omni Fund, Indus Select Fund, Indus Japan Long Only Fund, and Indus Emerging Markets Strategies.   Indus is headquartered in New York, with offices in London, Hong Kong, Tokyo, San Francisco and Stamford. The firm currently has over 85 employees, over a third of whom are investment and trading professionals. A geographical spread of investment professionals, both within and outside the markets in which Indus invests, facilitates intensive research and engenders a dispassionate approach to investment.   Indus aims to deliver high risk-adjusted annual returns throughout the investment cycle, capturing most of the upside in strong markets and preserving capital in difficult markets. Indus believes that stock picking based on rigorous fundamental analysis helps to generate positive returns over time. The investment team applies intensive analysis and research to exploit the inherent inefficiency of the markets in which it operates. Indus seeks to identify mispriced investment opportunities, and select uncorrelated and liquid investments that are chosen for their potential to generate alpha. Portfolio construction strategies endeavor to dampen the impact of market volatility. Risk management is an integral part of the firm’s investment philosophy, and involves both systems and culture.   Indus Capital Partners LLC is registered as an investment adviser with the Securities and Exchange Commission (SEC) in the U.S. and the Central Bank of Ireland - Financial Institutions and Funds Authorization. Overseas affiliates are regulated by the Financial Services Authority in the U.K., the Securities and Futures Commission in Hong Kong, the Central Bank of Ireland - Financial Institutions and Funds Authorization, and the Financial Services Agency in Japan.

Indus Capital Partners LLC

Capital A is a venture fund for seed to early-stage start-ups.

Capital A

Bambrew

Bambrew is a packaging development company focusing on sustainable and eco-friendly packaging solutions. Its sustainable packaging solutions include bamboo straws, wooden cutlery, and paper bags to help customers reduce their environmental impact.

Bambrew is an Indian startup offering sustainable packaging solutions. Bambrew’s products are fully biodegradable, 100% hand-made paper boxes and bags made using sugarcane, seaweed, and bamboo. Bambrew sells its bio-based packages online via its platform as well as through the ecommerce platform Indiamart.

Earth-friendly biotech solutions for the textile, packaging and construction industries.

Bio-based Materials

Sustainable Packaging Startup Bambrew Raises INR 60 Cr Led by Blume Ventures

Bambrew is an Indian startup offering sustainable packaging solutions. Bambrew’s products are fully biodegradable, 100% hand-made paper boxes and bags made using sugarcane, seaweed, and bamboo. Bambrew sells its bio-based packages online via its platform as well as through the ecommerce platform Indiamart.The company’s aim is to reduce the use of Single-Use-Plastics (SUPs) amidst changing perception of businesses and people through its products.Key customers and partnershipsSome of the notable companies Bambrew supplies its products to include Zomato, an Indian multinational food delivery and review company, Myntra, an Indian online shopping platform, and Bigbasket, an online grocery store in India. While the company has been focusing primarily on the Indian market, it has outlined plans to expand to international markets such as the US, Europe, and the Middle East.Funding and financialsIn March 2024, the company raised ~USD 7 million via a Series A funding round led by Blume Ventures, with participation from Blue Ashva Capital, Mumbai Angels, Indus Capital, and additional angel investors. The funding will support market expansion, strengthening manufacturing capabilities, R&amp;D and team expansion.<a href="https://sp-edge.com/updates/7632?industryIds=45">In January 2022</a>, Bambrew raised USD 2.35 million in a pre-Series A funding round led by Blue Ashva Capital and Supack Industries. The funding will support Bambrew in various areas such as R&amp;D, production capacity, supply chain, and strengthening its team. The company also hopes to expand into local markets such as Delhi, Mumbai, and Kolkata and international markets.

<div>
 
 Bolt Threads manufactures vegan &ldquo;spider&rdquo; silk and mycelium-based materials. Bolt Threads develops isolated silk proteins from proteins inspired by spider silk through a yeast fermentation process. The company&rsquo;s Microsilk products are sold under its clothing brand, Best Made Co. The company has also developed another biomaterial using mushroom-based mycelium, an alternative leather product branded as Mylo, which was expected to be produced on a larger scale.&nbsp;
 
 
 In September 2021, Bolt Threads announced its plans to produce Mylo on a commercial scale by the end of 2022 and expected to collaborate with mushroom farmers to heighten its mycelium crops. Though the company reported 
 <a href="https://sp-edge.com/updates/19867">
 halting production of Mylo
 </a>
 in June 2023 due to inflationary pressure and lack of funding, in October 2023, the company announced entering a 
 <a href="https://sp-edge.com/updates/22431">
 SPAC deal
 </a>
 to go public on the Nasdaq.&nbsp;
 
 
 For its Microsilk product, Bolt had a production capacity of 32,000 sq ft per annum as of 2018. Since Microsilk remains significantly more expensive than traditional silk, the founders were seeking ways to scale up.&nbsp;
 
 
 Key customers and partnerships
 
 
 For its Microsilk product, Bolt Threads launched its first collaboration in 2017 with fashion designer Stella McCartney and introduced its second prototype in the form of a biodegradable tennis dress.
 &nbsp;
 
 
 The leather alternative Mylo has been used in collaborations with Stella McCartney, Seattle-based leather bag manufacturer Chester Wallace, and Canadian athletic apparel retailer Lululemon. In October 2020, the Mylo Consortium was also formed including Adidas, Stella McCartney, Kering, and Lululemon, who collectively have made a seven-figure investment into Bolt Threads to produce Mylo. In return for their investments, these brands would have access to a large supply of the product.&nbsp;
 
 
 Stella McCartney has been experimenting with Mylo to create clothing prototypes with plans to use the material in upcoming collections. Adidas used Mylo to produce high-performance footwear for the first time in April 2021 by making a vegan version of its &ldquo;Stan Smith&rdquo; sneaker design that dates back to 1965 and had plans to expand the use of Mylo material in its other products including handbags, wallets, shoes, jackets. In February 2022, 
 <a href="https://sp-edge.com/updates/8404">
 Lululemon
 </a>
 launched a Mylo-based yoga bag collection, which included a multipurpose yoga bag and a storage bag for workout gear. Mylo was also used by Danish luxury brand Ganni for the launch of its limited edition Mylo-based wallet range and one-of-a-kind saddle-bags in June 2022. Ganni&rsquo;s partnership with Bolt Threads included plans to release more Mylo-based products in Q1 2023. With growing demand for its Mylo product, 
 <a href="https://sp-edge.com/updates/8884">
 in February 2022, 
 </a>
 the company partnered with Mycelium Materials Europe (MME) for the commercial production of Mylo but had not been able to materialize its plans.
 
 
 Funding and financials
 
 
 The company&rsquo;s last funding round was a USD 123 million Series D in January 2018 led by Baillie Gifford. The funds were used to commercialize the company&rsquo;s Microsilk&nbsp;products.
 
 
 
</div>

Bolt Threads

MycoWorks is a manufacturer of alternative leather using mushroom-based fungi. Its proprietary brand, Reishi, is manufactured using a patented process called “Fine Mycelium”, which uses fungi’s capacity to bind to itself and carbon-based materials in producing durable three-dimensional material. The benefits of Reishi, according to MycoWorks, include its tensile strength (the force needed to pull material to its breaking point) at 10 Megapascals (MPa), compared to the average cowhide tensile strength of 8.5 MPa. Reishi is also customizable (in terms of sizing and specifications) allowing growing direct-to-design products that eliminate waste from cutting and trimming.Mycoworks operates three Reishi plants as of January 2022. The third plant in California has an annual production capacity of 80,000 sq ft of material per year, increased the company’s production tenfold, and reportedly reached a milestone of producing 10,000 trays of Fine Mycelium after a year of operation. The company is also building a new USD 107 million worth manufacturing facility in Union, South Carolina, with operations expected to commence in 2023. The new facility reportedly is expected to produce several million sq ft of Fine Mycelium per year. In August 2023, the company announced opening a <a href="https://sp-edge.com/updates/20757">136,000 square foot plant </a>&nbsp;which will produce Reishi that has been embraced by luxury brands like Hermès and Ligne Roset for various applications and was expected to begin operation on September 20, 2023.Reishi remains in the prototype development and testing phase. The company announced that the material is currently being tested in clothing, shoe, wallet, and handbag design. Key customers and partnershipsThe company indicated in November 2020 that the first luxury fashion and footwear products containing Reishi will be launched in partnership with leading fashion and footwear brands in the coming months. MycoWorks also partnered with Hermès, the French luxury goods manufacturer, in March 2021 to use a material named “Sylvania”(a Fine Mycelium-based material developed by the two companies over three years) in a sustainable version of Hermès’s “Victoria” travel bag, by the end of 2021. In <a href="https://sp-edge.com/updates/24584">November 2023</a>, the company partnered with YUME YUME for interactive Reishi-based installation at Stedelijk Museum. Funding and financials<a href="https://sp-edge.com/updates/7804">In January 2022</a>, MycoWorks raised USD 125 million in a Series C funding round led by Prime Movers Lab. The funding was expected to accelerate commercial production of Reishi and support in R&amp;D, technology development, and hiring new employees.

MycoWorks

Checkerspot is a manufacturer of microalgae-based performance materials which are used to produce consumer products, including skis and surfboards. The company modifies microalgae’s genes to derive new molecular building blocks and then bioengineers production of consumer products. Microbes are optimized to biomanufacture unique, natural structural oils that were previously not accessible on a viable, commercial scale. The company’s primary focus is on high-performance polyurethanes and coatings made from bio-based oil via fabrication.The company’s commercialized products include Algal Core (a light-weight urethane-based composite) and Algal Wall (cast urethane), both products are offered under the WNDR Alpine brand while algal oil is sold under the miDori bioWick. In February 2021, WNDR Alpine, Checkerspot’s outdoor brand, received the B Corp Certification, private certification granted to for-profit companies by the B Lab, a global non-profit organization formed to support the movement of using businesses as a force for good. Key customers and partnershipsThe company has partnered with Beyond Surface Technologies (BST) to commercialize miDori BioWick, an algal oil used in BST’s wicking textile finish. As of August 2020, the company’s co-development partners also included W.L. Gore and DIC Corporation.Funding and financialsIn its latest funding round in <a href="https://sp-edge.com/updates/16362">February 2023, </a>Checkerspot raised USD 55 million in Series C funding led by ArrowMark Partners to accelerate the development and commercialization of biobased alternatives for everyday products and expand into markets, such as industrial applications, personal care, and food and nutrition.

Checkerspot

Mi Terro converts milk waste into sustainable yarn, using a self-developed technology known as Pro-Act that extracts casein protein molecules from milk. The protein is purified and undergoes a dynamic flow shear spinning process, converting the casein to sustainable fiber. The resulting yarn is claimed to be three times softer than cotton and has applications in textiles, food packaging, bedding, personal care, and medical sectors. Mi Terro has also developed a limited-release ocean-waste duffle bag. Key customers and partnershipsThe company has partnered with Nike, Danone, Toyoshima, DFA, Mitsubishi, Lair East Labs, Dole, Budweiser, and Harada. In <a href="https://sp-edge.com/updates/23179">October 2023</a>, the company partnered with Lipton to develop dissolvable tea pods. Funding and financialsThe company completed two rounds of funding in 2020, raising USD 100,000 in January 2020 and USD 50,000 in March 2020. In January 2021, the company also won the Meda Million Dollar Challenge and received a USD 300,000 prize. In March 2022, the company raised USD 1.5 million in a Seed round led by Astanor to scale up production.

Mi Terro

Modern Meadow develops collagen-based materials from plant proteins, using a range of biofabrication processes including the creation of bio alloys, solution dyeing, protein design, and fermentation. The focus of the company is on the luxury branded market with its fully biodegradable proprietary brand, “ZOA”. Modern Meadow also reports that it is developing “Bioleather1 (BL1)”, an alternative to chrome tanned bovine leather made using its proprietary BioAlloy process. According to research published by the company in <a href="https://sp-edge.com/updates/8431">February 2022 </a>, BL1 reduces greenhouse gas emissions by 80% and 20% compared to traditional and synthetic leather respectively. It also reduces water consumption from groundwater sources, land use, and the subsequent degradation of water bodies during the process by 95% compared to conventional leather production.In April 2020, Modern Meadow announced plans to commence commercial production later that year and was actively looking for manufacturing partners. As of the same date, Modern Meadow employed between 70-90 staff at its 72,000 sq ft factory in New Jersey.Key customers and partnershipsModern Meadow announced a partnership with Evonik in March 2018, to develop and scale-up the commercial production of fermentation-based products.In April 2021, the company reported that it would announce collaborations with fashion brands and industry partners during the following six to nine months. In <a href="https://sp-edge.com/updates/15657">January 2023 </a>, Modern Meadow partnered with Taiwan-based sustainable fabric company, Singtex to develop biomaterials for various applications, beginning with a sustainable, waterproof, membrane-based material for the outdoor apparel market. In <a href="https://sp-edge.com/updates/16786">February 2023 </a>, the company partnered with US luxury brand, Tory Burch, to launch Tory Burch’s first plant-based leather alternative tote, the Ella Bio, powered by Modern Meadow technology, Bio-Alloy.In June 2023, it also formed a strategic partnership with <a href="https://sp-edge.com/updates/19178">Navis TubeTex </a>, a provider of textile machinery, to develop a sustainable textile manufacturing process. During the same month, it also formed a strategic partnership with <a href="https://sp-edge.com/updates/19868">BASF </a>to create an animal-free material called Bio-VERA that replicates the look, feel, and aging properties of traditional leather, suede, or chamois.In <a href="https://sp-edge.com/updates/30500">June 2024</a>, the company partnered with Earthletica to unveil the Bronte Jacket which used Bio-Alloy Shield technology.Funding and financialsIn April 2021, the company raised USD 130 million in a Series C funding round led by Key Partners Capital to (i) develop the company's biofabrication technology, used in creating an alternative to fossil-fuel-based textile coatings; and (ii) scale-up and commercialize its collagen-based leather material.

Modern Meadow

Developers of materials with applications across apparel, automobile, home goods, etc.

Developers of non-leather material alternatives such as wool, silk, and viscose—mostly for apparel

Developers of alternatives to plastic and other materials used in packaging

Developers of alternative materials for industrial applications such as sporting goods, electronic components, and automotive parts

Reuses waste to create bio-based materials

Sustainable alternatives to materials like animal leather, silk, plastic

Bambrew

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