DHARAKSHA

Dharaksha is a biomaterials company. It uses its unique fungi culture and proprietary deep tech to transform farm waste into something valuable. Farm waste that is otherwise burnt and is responsible for air pollution.

It has developed a proprietary intermediate called mycelium substrate from rice husk and fungi. It uses this substrate to the configure properties of resultant compounds. This allows it to create new biomaterials.

It has already comercialised a thermocol alternative. It has also developed biowood from this substrate which can be an alternative to MDF. Dharaksha is a mission-driven company... as mission driven as one would see.. trying to do its bit to reduce pollution.

Total raise -  ₹4Cr
Already committed - ₹3Cr
Floor - ₹50Cr

Arpit Dhupar

Anand Bodh

Anupam Mittal

Peyush Bansal

Ritesh Agarwal

Aman Gupta

Vineeta Singh

Purpose driven & strong team!

🔆 Arpit is a seasoned clean-tech founder with previously built Chakr for reducing emissions originating from diesel generators.

🔆 Arpit along with Priya (R&D head) leads the bio-tech research effort. Along with in-house design and engineering team, they have already built 5 core IPs which gives them far better product compared to Global players as well.

🔆Anand and Aprit have known each other for 13 years and fully relate with each other on the purpose. Anand leads the Business Development and operations. He is supported by Rounak who leads plant operations.

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Dharaksha is solving twin problems of stubble burning & packaging pollution!

🔆 The government struggles with stubble burning due to the absence of a commercial use case for farmers to cease burning. Dharaksha aids farmers in utilizing stubble waste while earning government incentives by refraining from burning it.

🔆 Countries recognize the environmental impact of packaging. India banned thermocol in some cases, and the EU mandates brand responsibility for recycling. Dharaksha's biodegradable products are eco-friendly saviors.

🔆 They innovative bio-wood product can further reduce dependence on real wood / engineered wood and hence reduce dependence on cutting trees.

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Large markets ready to get environment friendly products.

🔆 India is a $10 bn market whereas Globally it's a $100 bn opportunity (conservative estimates).

🔆 More brands now want to be seen as environmentally conscious as they target new age users who are choosing brands basis their perception of whether those brands are "good for the environment" or not.

🔆 Dharaksha also reduces volumetric weight of the packging while giving a much stronger and stable support. This reduces damage in transportation also reduces the overall transportation cost.

🔆 Bio-wood would open up an even more lucrative market with multiple use cases possible at a lower cost compared to MDF

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Risk Factors

🔆 Commodity market - Thermocol is now a commodity product with price as a driving factor. Dharaksha needs to bring down cost further to avoid price competition from local Thermocol manufacturers.

🔆 Effective implementation of ban - While several countries (Including India) have banned Thermocol, implementation might be delayed due to lobbying by the current players. Till then, Dharaksha depends on environmentally conscious brands for selling their products.

🔆 New Products yet to be launched commercially - Bio-wood is still under durability test & hence not commercially launched. Acceptance might also take time as the market is primarily MDF led. Protective Thin film, another innovative product, is still at R&D stage.

🔆 Key people risk - Success of business depends on the 4 key core team members. There is a risk of new competition trying to poach any of these key team members to get the IPs (the secret sauce of Dharaksha).