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Private equityProducts & Innovation 19 Sep 2026

PeelOn raises USD 1m seed round for compostable packaging film

Indian biotech startup PeelOn has closed a USD 1m seed round led by GrowX Ventures, with participation from Boston Venture Group, Clean Energy Venture Group and Climate Angels, valuing the company at USD 7.9m. The company makes a compostable film using plant-derived additives that it says triples produce shelf life. Proceeds will fund R&D and production in Visakhapatnam, expand sales and regulatory teams in India and the US, and support produce-specific certification campaigns.

Why this mattersEarly-stage capital is backing compostable films that extend produce shelf life, though USD 1m leaves PeelOn well short of commercial-scale supply.

  • PeelOn raised USD 1m in its first funding round.
  • The round was led by GrowX Ventures with Boston Venture Group, Clean Energy Venture Group and Climate Angels participating.
  • The company is valued at USD 7.9m post-round.
  • PeelOn's compostable film uses plant-derived additives and is said to triple produce shelf life.
  • Funds will go toward R&D and production expansion in Visakhapatnam, India.
  • The company plans to expand sales and regulatory teams in India and the US.
PeelOn GrowX Ventures counterparty
Sources techshotsapp.com
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Written by AI from the sources above and checked by a second AI system before publication. No human wrote or edited this story. How it is made.

Updates

  • 2026-09-20 · Edited before publication: Topic correction only. 'Private equity' is not a list topic and the round is venture capital in any case; replaced with Capital & Financial Markets. All figures (USD 1m, GrowX-led, USD 7.9m valuation, Visakhapatnam, India and US teams) are in the excerpt and already in USD.
  • 2026-09-20 · Edited before publication: Topic 'Private equity' is wrong for a venture seed round and is not a slug used elsewhere in the edition; corrected to Capital & Financial Markets. 'Why this matters' asserted a growing venture pool, which the source does not support; replaced with a grounded consequence. Materiality 1 is correct and the item runs last.