Biotech startup PeelON has successfully raised $1 million in a seed funding round led by deeptech-focused venture capital firm growX Ventures, with additional participation from Boston Venture Group, Clean Energy Venture Group, and Climate Angels. This funding values the company at $7.9 million and marks a significant milestone for the startup, which is on a mission to eliminate single-use plastics from the global fresh produce supply chain.
PeelON, founded in 2020 by Taraka Ramji Moturu and Venkata Ravi Sankar Ummidi, specializes in biodegradable and compostable packaging films that naturally extend the shelf life of fruits and vegetables by up to three times compared to conventional methods. Leveraging plant-derived materials and natural additives, these films help delay ripening, reduce spoilage, and prevent microbial infections, supporting both freshness and sustainability in the produce industry.
The capital infusion will be strategically used to scale up research and development activities and expand production facilities in Visakhapatnam, Andhra Pradesh. PeelON also plans to ramp up its sales and regulatory teams in both India and the United States while launching targeted marketing campaigns aimed at key crops such as leafy greens, bananas, and grapes. The startup is also working towards achieving global certifications and regulatory filings to support its expansion into new markets.
Operating under a B2B model, PeelON collaborates with farmers, exporters, and retailers, offering two flagship products: PeelON-Fresh for bulk shipments and PeelON-Retail+ for retail markets. PeelON-Fresh provides liners designed for bulk transportation needs, while PeelON-Retail+ features ready-to-use compostable bags with integrated antimicrobial agents and ethylene scavengers. These solutions are already being deployed commercially across India, especially in Maharashtra and Andhra Pradesh, as well as in US states like Texas, Florida, and California.
Driven by a vision to make sustainability accessible and affordable, PeelON’s founders—plant biologist Taraka Ramji Moturu and microbiologist Venkata Ravi Sankar Ummidi—were inspired by firsthand observations of farm-level food waste resulting from inadequate and non-eco-friendly packaging options. Their innovation not only aims to address food spoilage but also supports the transition towards eco-friendly, compostable materials in global agriculture.
With this new funding, PeelON sets its sights on being the preferred packaging partner for exporters in India, Mexico, Southeast Asia, and North America. Their ongoing collaborations with universities and material labs promise further breakthroughs in the packaging space, reinforcing PeelON’s commitment to building a sustainable, waste-free future for the supply chain of fresh fruits and vegetables.
