Bamboo is a sustainable superstar. The plant, known for its versatile qualities, offers a variety of use cases such as in construction, making paper with its fibres, and creating a wide range of textiles. With its environmental and ecological benefits, it stands as a perfect alternative to plastics.
Agni Mitra recognised bamboo’s sustainable potential and founded Amwoodo in 2018, teaming up with colleagues Sourav Dey and Avijit Rajak. The startup offers eco-friendly products ranging from personal care items to construction materials.
“We wanted to go beyond small, everyday products and think bigger. Bamboo has the potential to replace conventional materials in sectors like construction, where sustainability is critical,” founder Mitra explains.
The Kolkata-based startup specialises in manufacturing bamboo products, including personal care items like toothbrushes, combs, razors, and slippers; compostable sanitary bags; towels; pens; notebooks; home and kitchen utensils; and hospitality and aviation kits.
Bootstrapped with about Rs 10,000 from founders’ personal savings, Amwoodo sources material from northeastern states, including Assam, Arunachal Pradesh, Tripura, and Mizoram.
From idea to inception
While pursuing a master’s degree in Germany, Mitra was struck by the country’s plastic-free culture. “I realised how much further ahead Europe was in terms of sustainability, especially in their use of bamboo products,” he recalls in a conversation with YourStory.
Mitra planned to start a bamboo venture in Europe, however, he had to return to India during the pandemic. He first founded a medical device startup in India, which didn’t do well and prompted him to look at the bamboo ecosystem in India closely.
“I was back home in India and I thought, why not bring that same plastic-free philosophy here, where the need for sustainable alternatives is dire,” he adds.
After some quick research, he realised that despite India having the second-largest bamboo forest cover in the world, the industry was underdeveloped. “I was shocked to find that less than 1% of our bamboo products were exported. The farmers, artisans, and factories were not well-connected, and there was a lack of infrastructure and resources to scale the bamboo product industry,” he explains.
Mitra began exploring how to connect farmers with artisans and provide them with the necessary tools and knowledge to thrive. “We started providing semi-automated machines, training, and financial education to uplift the industry,” he adds.
Afterwards, he founded Amwoodo, which works with around 530 farmers and 500 artisans across India, primarily in northeastern states.
“Farmers who were earning Rs 10,000 in 2019 are now making between Rs 45,000 and Rs 50,000 monthly. Artisans, too, have seen their earnings rise from Rs 8,000 to Rs 30,000 per month,” Mitra claims.
Expanding horizons
Amwoodo initially began as a B2B operation, serving hospitality chains such as Taj Hotels, The Leela Palace, Lemon Tree, Hyatt, ITC, and IHG. As the startup gradually expanded into the B2C market, its clientele also grew to include direct-to-consumer (D2C) brands like Himalaya, Man Company, Nat Habit, and Kimirica.
In 2021, the company introduced its sub-brand, Dencrus, focusing on oral care solutions with products like bamboo toothbrushes and eco-friendly toothpaste. This was followed by the launch of IMECO, offering sustainable lifestyle essentials such as tissues, drinkware, and personal care items. In 2023, the company expanded further with the grooming and shaving solutions brand Shaveco, delivering these essentials directly to consumers.
Amwoodo recently launched Ecoconscious, a marketplace curating eco-friendly products and uniting its three core brands.
Amwoodo Coffee Sipper
“We wanted to offer a more cohesive selection of sustainable products rather than mixing unrelated items,” Mitra explains. The startup projects the Ecoconscious platform to generate Rs 1 crore in revenue by December 2024.
The startup serves a user base of over 1 million, including more than 47,000 B2B clients and nearly 15 million B2C customers.
With over 200 products in its portfolio, Amwoodo generates about 65% of its revenue from B2B sales. Last year, the startup generated Rs 22 crore in revenue and currently has a monthly recurring revenue of Rs 4.5 crore, with projections to reach Rs 60 crore in FY24. “Post-diwali, we expect to generate around Rs 7-8 crore per month,” Mitra shares.
Amwoodo also operates in the B2G sector, collaborating with state governments to provide bamboo-based infrastructure solutions such as flooring, wall panels, and facades for new airports. The startup has partnered with the National Highways Authority of India and the state governments of Assam and Mizoram for various government projects.
“We have partnered with governments in bamboo-rich regions, including Nagaland, West Bengal, and Meghalaya, to implement skill development programmes that train local farmers and artisans in sustainable bamboo practices,” Mitra adds.
Additionally, Amwoodo works with various farmer-producer organisations (FPOs) in the Northeast to support local farmers and artisans. These partnerships aim to uplift economically disadvantaged families by creating a ‘model village’ concept, providing training, skill development, and opportunities to earn through bamboo-based products.
Furthermore, Amwoodo supplies products to several airlines, including Emirates, Air Astana, Saudia, KLM Royal Dutch Airlines, and Swiss Airlines.
In the export market, it serves countries including Germany, Slovakia, Slovenia, the United Kingdom, the UAE, Saudi Arabia, Qatar, and Oman. It also caters to markets in Southeast Asia, including Thailand, Malaysia, and Vietnam. Exports contribute about 8%.
The way ahead
The bamboo market in India, valued at $314.67 million in 2023, is projected to experience significant growth with a CAGR of 5.82% through 2029, according to TechSci Research.
Amwoodo secured $1 million in funding from Zerodha-backed venture fund Rainmatter in April this year.
Looking ahead, it plans to raise between $8 million and $10 million in its next funding round, which will be used to drive research, scale production, and expand distribution. It is also working on launching its own beauty and personal care line by FY26, with eight patents filed and 16 more in the pipeline.
“We are heavily investing in R&D, and the new funding will allow us to expand our workforce and operations. Currently, we have over 30 distributors across India and plan to increase this number to 250 post-funding,” says Mitra.
The startup is expected to reach a revenue of Rs 65 Crore this year, with a target of over Rs 120 Crore by March 2026.
Amwoodo also plans to establish manufacturing units in Maharashtra and Karnataka, and collaborate with FPOs to support local farmers and artisans, especially those in bamboo-rich areas, enhancing benefits for communities involved in sustainable bamboo production.
It competes with brands like Beco, Bamboo India, and Boocane.
According to Mitra, what sets Amwoodo apart is its end-to-end integration focused on community empowerment and working directly with local farmers and artisans.
