Edited extracts from the press release:
Jaipur-based venture capital firm Rajasthan Ventures (RVCF), through its Rs 150 crores SME Tech Fund, has invested Rs 15 crores in the second round of funding of PR Packagings Ltd.(PRP), a packaging company based in Faridabad. PRP produces high quality folding cartons including printed mono cartons, fluted boxes, pouches, brochures, leaflets etc.
“PRP is serving to best known brands in Electronics, Pharmaceuticals, Cosmetics, Automobile Industries and Food chains. The company is well positioned in northern India and is planning to foray in Flexi Tube Packaging; Seamless and Laminated Tubes” RVCF CEO Girish Gupta said.
The Indian packaging industry has constantly grown in the last few years by approximately 15% year on year. The growth in Indian Flexible Packaging Industry is likely to grow approximately at 18% - 20% over the next five years. The highest demand for packaging and the associated equipment come from the food processing industry and from the pharmaceutical industry. The large growing middle class, liberalization and organized retail sector are the catalysts to growth in packaging.
Leveraging the strong expertise in running a successful packaging business, the company intends to further expand and widen its customer base by enhancing its capacity, exploring new packaging opportunities, widen its product portfolio, consolidate its position and thus be the preferred vendor to all its clients.