Assam-Based Tamul Plates Receives Follow-on Investment From Artha Initiative & Upaya Social Ventures
Barpeta, Assam (PRWEB) February 19, 2015 -- Tamul Plates Marketing Pvt. Ltd. is announcing today that the company has come to an agreement with Artha Initiative and Upaya Social Ventures on an investment that will allow Northeast India’s leading producer of palm leaf tableware to significantly expand its operations across the region.
The deal is notable as Tamul Plates is the only established producer of disposable tableware in the Northeast - a region with more than 100,000 hectares of arecanut under plantation and one of the poorest areas of the country.
“This investment is a recognition that Tamul Plates is well positioned to meet the growing demand for high quality, environmentally responsible, and ethically produced products,” said Tamul Plates CEO Arindam Dasgupta. “Working in the Northeast, the company benefits from a unique combination of access to the highest quality raw materials and a producer base that takes great pride in its craftsmanship,” said Dasgupta.
Tamul Plates produces and markets high-quality, all-natural disposable plates and bowls made from arecanut (palm) tree leaves and sells them under the “Tambul Leaf Plates” brand. The company’s clientele includes a mix of restaurants, fast food establishments, event managers, and direct-to-consumer retailers.
This investment follows a recent agreement between Tamul Plates and the Government of Assam to supply the equipment for and train an extended network of affiliate rural producers. The investment by Artha and Upaya will allow the Barpeta-based company to make use of that expanded affiliate producer network by diversifying its product line, expanding its domestic sales and distribution networks, and opening export markets for its products.
“It has been a highlight of the Artha Venture Challenge to uncover a pioneering and innovative enterprise in Tamul Plates,” said Artha Initiative’s Director Audrey Selian. “We are particularly happy to be co-investing with Upaya, and look forward to continued efforts in collaboration sector-wide through our AVC and ArthaPlatform.com programming,” said Selian. Artha Initiative is associated with Switzerland-based Rianta Capital Zurich.
Disposable arecanut dinnerware is hygienic, chemical-free, compostable, microwave safe - and in high demand among urban consumers around the world. The production and sale of natural arecanut dinnerware not only reduces the deforestation and pollution associated with the production of traditional disposable dishes, but also provides a viable livelihood to disadvantaged communities.
“Upaya has been very impressed by the work of Arindam and his team over the past year, and believe that the company’s growth plans will benefit both customers and producers alike,” said Upaya’s Director, Business Development Sreejith Nedumpully. “We are proud to join the Artha Initiative in backing this promising enterprise, and are excited about the company’s potential,” said Nedumpully. Upaya was Tamul Plates’s first investor.
This co-investment in Tamul Plates is the first deal completed under the formalized collaboration framework between Artha and Upaya that was announced in November 2014. Per that agreement, the two organizations are working together to deploy seed capital to help SGBs scale and create employment for the poor, share best practices around sound financial management, and disseminate tools and training for the benefit of India's wider ecosystem.
To learn more about Tamul Plates or Tambul Leaf Plates products, please contact:
Arindam Dasgupta
arindam(dot)dasgupta(at)tpmc(dot)co(dot)in
For more information about the Artha Initiative, please contact:
Audrey Selian
audrey(dot)selian(at)riantacapital(dot)ch
For more information about Upaya Social Ventures, please contact:
Steve Schwartz
sschwartz(at)upayasv(dot)org
About Tamul Plates Marketing Private Limited: Tamul Plates produces and markets high-quality, all-natural disposable plates and bowls made from arecanut (palm) tree leaves under the Tambul Leaf Plates brand. The company produces dinnerware through a network of affiliates across the tribal regions of Northeast India, ensuring that each affiliate has the skills and machinery needed to produce superior-quality arecanut products. The company is working to generate maximum value for both the rural producer and urban customer through production and marketing of high quality products in an ecologically sustainable manner. For more information on Tamul Plates, please visit http://www.tpmc.co.in/
About Rianta Capital Zurich’s Artha Initiative: The Artha Initiative is focused on impact investment in social enterprise in India, with a concentration on the agriculture, livelihoods and small-scale renewable energy sectors. This program is committed to principles of sustainability in the impact created by motivated entrepreneurs seeking to create appropriate products and services for the BoP. Rianta Capital Zurich is an investment advisory based in Zurich that provides advice to the trust associated with the Principal Family. For more information on the Artha Platform, please visit http://www.arthaplatform.com/
About Upaya Social Ventures: Upaya Social Ventures (also referred to as “Upaya”) is building businesses that create jobs and improve the quality of life for the “ultra poor.” We do this by providing seed funding and business development support to promising entrepreneurs that can create hundreds of jobs in India’s most impoverished communities. As these small businesses grow, they will generate sustainable, well-paying jobs for families living in extreme poverty. As of February 2015, this work has resulted in seven financially healthy, scalable businesses that have created nearly 1,200 jobs in local communities. For more information on Upaya, please visit http://www.upayasv.org
Steve Schwartz, Upaya Social Ventures, http://www.upayasv.org, 206-486-2649, [email protected]
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