Sorich, a leading pharmaceutical packaging startup, has raised $1 million in a pre-IPO funding round, led by BizDateUp. The investment will be used to optimize production capacity, enhance working capital, and accelerate the development of patented packaging products. Sorich also plans to upgrade its machinery to focus on high-margin products, including the newly introduced Heat Transfer Labels.

Founded in 2011 by Chandrahas Kotian, Sorich specializes in manufacturing and supplying packaging materials for various industries such as pharmaceuticals, food, and personal care. The company offers a wide range of products including aluminum foils, coated glassine paper, and flexible packaging. These products are widely used in industries like food and dairy, confectionery, and pharmaceuticals, as well as personal care sectors.

Company is on a mission to enhance global health through advanced packaging technologies. The company has seen a surge in demand for its innovative packaging solutions, especially in child-resistant foils and extrusion laminates.

The pharmaceutical packaging market is projected to reach $229.9 billion by 2027, with a CAGR of 14.9%, according to the World Packaging Organization (WPO). Sorich is positioning itself to capitalize on this growth by expanding its product offerings and enhancing production capacity.

In FY 2023-24, Sorich reported a turnover of $2.4 million and is targeting $7.2 million in the current fiscal year. The company’s expansion plans into Sikkim are projected to add an additional $1.8 to 2.4 million in revenue, demonstrating Sorich’s strategic approach to market growth.

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