• September 24, 2022

Zerund in India Raises Fund for Sustainable Brick Manufacturing

Zerund in India Raises Fund for Sustainable Brick Manufacturing

A senior official from Guwahati’s Zerund, a sustainable brick manufacturer, recently announced that the company had raised $1 million (about Rs 7.8 crore) from a group of key investors that included Dreamweaver Investments.

Gruhas Proptech Fund, the DLF Family office, and Anthill Ventures collaborated on an accelerator program called ASPIRE to make the investment possible. David Gogoi, co-founder and CEO of Zerund, has stated that the company is on track to increase yearly production by a factor of nine, reaching 2.3 crore bricks by 2026.

He said that the most recent round of funding came from industry professionals with an “in-depth understanding” of the property-technology sector as investors. To go beyond our initial base in Assam and introduce our original concept to the rest of India and the world, “their support would be vital,” Gogoi added. He added that the company would use the additional capital to improve its yearly production capacity, which is now more than 25 million bricks.

The money would be used to expand the company’s sales and distribution network beyond Assam and into other Indian states over the next few months, the CEO stated. Abhijeet Pai, the co-founder of the investment vehicle Gruhas Proptech Fund, has remarked that innovations like Zerund’s product are at the center of Gruhas Proptech’s focus on decarbonizing the construction and real estate industries.

Abhijeet Pai further stated that they would collaborate closely with the Zerund team as they expanded to fulfill the growing need for environmentally responsible practices in the building industry. Several entities, notably NEDFi Venture Capital Ltd (NVCL) and Villgro Foundation, contributed to Zerund’s Rs 4 crore funding round in 2021. Zerund is an Assam-based brick manufacturer with locations in Guwahati and Pathsala. It was founded in 2018 by civil engineering students David Gogoi, Mousum Talukdar, and Rupam Choudhury at Assam Engineering College.

The NTPC plant in the Kokrajhar district of Assam provides 70 percent of the waste material used in producing the company’s high-grade and lightweight bricks, including plastic and fly ash.

 
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