Pharma packaging startup Sorich raises USD one million led by BizDateUp

The startup Sorich has secured USD one million in pre-IPO funding to boost pharma packaging production and expand product offerings.

In a press note shared with WhatPackaging? magazine, Sorich said, "The proceeds will be utilised to optimise production capacity, enhance working capital, facilitating the development of patented products and certifications, as well as upgrading machinery to produce high-margin products which includes the recently introduced heat transfer labels.

Chandrahas Kotian, the founder of Sorich said, "Recent studies have revealed that thousands of chemicals used in food packaging and production are leaching into the food itself, with over 3,600 chemicals identified in human bodies, some of which pose health risks while little is known about others. This issue extends to pharmaceutical packaging as well." He added, "These alarming findings have driven us to develop solutions aimed at preventing such contamination.”

Sorich, Kotian said, is committed to revolutionising pharmaceutical packaging through quality, innovation, and sustainability. Kotian added, "Through the investment, we aim to deliver packaging solutions that improve human health and lead the industry with innovative practices in pharmaceutical packaging.”

The company claims to have a turnover of  USD2.4 million in 2023-24 with a target of USD 7.2 million in the current fiscal year. The company’s planned expansion into Sikkim is expected to generate an additional USD1.8 to 2.4 million in revenue, showcasing its strategic approach to market penetration.

Jeet Chandan, the co-founder of BizDateUp said, “This investment embodies our core belief in the transformative potential of Sorich’s innovative solutions. We are thrilled to support a company that is not only dedicated to quality and innovation but also positioned to make a substantial impact on global health through enhanced pharmaceutical packaging.”