Upaya Social Ventures Invests in Eco Bamboo Product Manufacturer Amwoodo

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Dec 20

Bangalore, India | December 20, 2023

Upaya Social Ventures, which provides investment and support to early-stage enterprises creating dignified jobs for people in extreme poverty, announced its investment in Amwoodo, a company that manufactures cost-effective, eco-conscious self-care products out of bamboo and wood materials.

What sets Amwoodo apart is its commitment to working with grassroots artisans, many of whom were previously involved in hazardous plastic product manufacturing processes, and have transitioned to working with bamboo and wood products through micro-entrepreneurs supported by Amwoodo. The products, which include toothbrushes, combs, pens, cutlery, straws, razors, and ear swabs, serve as sustainable alternatives to traditional plastic items. The company’s current area of operations, Tripura and West Bengal, is relatively less developed than the rest of India, making its mission all the more critical.

“There is always a preconception that sustainable products are premium and not affordable,” said AB Chakravarthy, Upaya’s India Country Director. “Agni and his team are breaking this notion by innovating and manufacturing affordable products made from bamboo. This has not only emerged as a strong alternative for conventional plastic products but has also created dignified jobs in the north-eastern states across the entire bamboo value chain of cultivation to manufacturing. We are excited about the dual prospect of dignified job creation and sustainability.”

Agni Mitra, Amwoodo’s founder, holds a degree in Biomedical Engineering and has leveraged his passion for sustainability to create an innovative product line that is both environmentally friendly and socially responsible. In total, Amwoodo has created 418 jobs and is estimated to create 945 jobs in the next four years.

“Our social impact journey unfolds in the delicate splendor of collaboration, where artists inject their individuality into every product and bamboo whispers tales of sustainability,” said Mitra. “Driven by the resonance of purpose, we, the change stewards, work in perfect harmony with farmers and artisans. Our shared vision flourishes thanks to the kind support of Upaya social Venture as we traverse the sustainable landscape. Together, we create not just bamboo products but also a legacy of positive influence for future generations, weaving a tapestry of empowerment.”

Upaya is the first institutional investor to fund Amwoodo. The funds from Upaya will help Amwoodo expand its production capacity, launch new products and build working capital, which includes materials, marketing, and manpower. Amwoodo is the 38th company in Upaya’s portfolio of early-stage social enterprises dedicated to creating dignified jobs in India.

“While Upaya is known for our commitment to dignified jobs, we recognize that we all need to take care of the planet and our own sustainability.” said Upaya CEO Kate Cochran. “What we love about Amwoodo is the way these two themes combine in an exciting enterprise.”

ABOUT UPAYA SOCIAL VENTURES:

Upaya Social Ventures is a nonprofit organization building an inclusive economy by providing investment and support to early-stage businesses creating dignified jobs for people living in the most extreme poverty.

Upaya’s award-winning, impact-first model seeks out and supports oft-overlooked companies creating work that is safe, stable, inclusive, and rewarding—generating a transformative impact on families, communities, and economies.

Since its founding in 2011, Upaya’s portfolio companies have created over 30,000 dignified jobs across India. Please visit upayasv.org for more information.