Biography of Arpit Dhupar: Founder and CEO of Dharaksha Ecosolutions- Entrepreneur
Biography of Arpit Dhupar
Arpit Dhupar is the dynamic CEO of Dharaksha Ecosolutions, a
pioneering company in the field of sustainable material science. With a passion
for innovation and a deep commitment to environmental causes, he is dedicated
to creating solutions that address some of the world’s most pressing ecological
challenges. His impressive background includes recognition as a Forbes 30 Under
30 honoree, and he is also a UN Young Champion of the Earth. His expertise and
leadership have played a key role in the growth of Dharaksha, which focuses on
using biotechnology to create biodegradable alternatives to plastic and foam
packaging.
Educational Journey and Early Career
Arpit’s educational journey began at the Indian Institute of
Technology, Delhi (IIT Delhi), where he studied the design of machine elements.
His academic pursuits were complemented by his engineering background from
Maharaja Agrasen Institute of Technology, where he earned his BTech in
Mechanical and Automation Engineering. During his time at university, Arpit
also participated in national-level events, including SAE Baja and Saenis
Efficycle, experiences that shaped his technical and leadership skills.
From Innovation to Entrepreneurship
Arpit’s entrepreneurial journey began with his role as Chief
Technology Officer at Chakr Innovation, where he developed technologies aimed
at reducing air pollution in Delhi. Chakr’s first product, a device designed to
capture particulate matter from diesel generators and industrial chimneys, was
a major success. This innovative solution, which absorbed up to 81% of
particulate emissions, transformed harmful pollutants into valuable raw
materials for industries like ink, cement, and tires.
Building a Vision for Sustainability
After his success at Chakr Innovation, Arpit turned his
attention to another critical environmental issue: plastic waste. In 2020, he
co-founded Dharaksha Ecosolutions, a company focused on creating sustainable
alternatives to traditional packaging. Dharaksha’s flagship product uses crop
stubble waste and mycelium-based technology to create biodegradable packaging
that decomposes in just 60 days. The company’s aim is to reduce the
environmental harm caused by conventional plastics, which can take hundreds of
years to degrade.
Dharaksha's Revolutionary Technology
Dharaksha Ecosolutions stands out for its unique approach to
sustainability. By utilizing agricultural waste, particularly crop stubble, the
company creates eco-friendly packaging that performs just like conventional
foam materials but is completely biodegradable. This innovative use of mycelium
technology helps eliminate the need for petroleum-based products, offering an
effective and environmentally-friendly solution to a major global problem.
Pitching to the Sharks: A Unique Proposal
Arpit’s appearance on Shark Tank India brought significant
attention to Dharaksha. In a bold and unconventional move, he asked for just
₹1,250 in exchange for 1% equity in the company, but with one catch: he also
wanted 100 hours of the sharks' time. This unexpected request, combined with
his confident and passionate pitch, left the sharks impressed. Arpit explained
that his real goal was to gain insights and mentorship from the sharks, and not
just the funding.
Sharks Impressed by Innovation
The sharks were immediately intrigued by Dharaksha’s
potential. Vineeta Singh and Aman Gupta expressed their admiration for the
company’s innovative approach to replacing harmful materials with biodegradable
alternatives. Aman, in particular, was excited about the company’s ability to
match the cost of paper and the potential for future scaling. Arpit’s pitch
resonated with the sharks, who saw the huge potential in Dharaksha’s vision for
a sustainable future.
The Deal: A Shark Tank Success
Despite initial doubts from some sharks, the pitch
ultimately resulted in a deal. All the sharks—Aman Gupta, Vineeta Singh, Anupam
Mittal, Peyush Bansal, and Ritesh Agarwal—were impressed by Dharaksha’s
potential and agreed to invest ₹1,250 for 1% equity in the company, alongside
100 hours of mentorship. This deal marked a significant milestone in
Dharaksha’s journey and opened new doors for scaling the business.
Biography of Arpit Dhupar: Founder and CEO of Dharaksha Ecosolutions- Entrepreneur/age/net worth/investor/startup/biodegradable packaging agriculture
Addressing Valuation and Funding Concerns
During the pitch, one of the most talked-about moments was
the company’s ₹100 crore valuation. Anupam Mittal questioned Arpit about why he
didn’t ask for more substantial funding rather than a symbolic amount like
₹1,250. Arpit explained that he had already secured a valuation of ₹22 crore in
previous rounds, and didn’t want to waste the sharks’ time by asking for a
larger sum. His candidness and transparency impressed the sharks, particularly
Vineeta and Aman.
Growing the Company with Seed Funding
Following the appearance on Shark Tank India, Dharaksha
Ecosolutions secured a significant boost with ₹24.8 crore in seed funding. This
investment, led by Avaana Capital, provided the company with the financial
support necessary to scale its operations, enhance research and development
efforts, and expand its product offerings. The investment not only solidified
Dharaksha’s position in the market but also enabled them to pursue their
mission of revolutionizing the packaging industry with sustainable solutions.
Future Plans: Expanding Beyond Packaging
With the new funding, Dharaksha is looking to expand beyond
its core focus of biodegradable packaging. The company is exploring the
development of mushroom-resin-based MDF boards as a safer and more eco-friendly
alternative to traditional MDF products, which are often harmful to health.
Additionally, they are working on creating biodegradable plastic films from
mushroom extracts, with the goal of disrupting the global packaging industry.
The Circular Economy Vision
At the heart of Dharaksha’s mission is the vision of a
circular economy, where products not only reduce waste but regenerate the
earth. Arpit’s commitment to sustainability is evident in the company’s
approach to composting their products, which enriches the soil and promotes a
healthier ecosystem. Dharaksha’s work aligns with global efforts to reduce
plastic pollution and promote eco-friendly alternatives across industries.
A Growing Impact on Sustainability
Arpit’s journey with Dharaksha Ecosolutions has had a
profound impact on the sustainability sector. Through innovation and a strong
commitment to environmental responsibility, Dharaksha is setting new standards
in the packaging industry. The company’s mycelium-based technology is not just
a breakthrough in materials science; it’s a step towards a cleaner, greener
planet. The support from the sharks, as well as the recent funding round, has
provided Dharaksha with the resources to make a lasting change.
Conclusion: A Vision for a Greener Future
Arpit Dhupar’s leadership and vision have propelled
Dharaksha Ecosolutions into the spotlight as a leader in sustainable
innovation. With the backing of investors and the public’s growing interest in
eco-friendly alternatives, the company is poised to make a significant impact
in the global effort to reduce plastic waste. As they continue to innovate and
scale, Dharaksha represents the future of a sustainable, circular economy.
A timeline for Arpit Dhupar’s journey:
2009-2013: Studies Mechanical and Automation Engineering at
Maharaja Agrasen Institute of Technology and IIT Delhi.
2013-2016: Serves as CTO at Chakr Innovation, developing air
pollution-reducing technology.
2020: Co-founds Dharaksha Ecosolutions to create
biodegradable packaging using agricultural waste and mycelium technology.
2021: Appears on Shark Tank India, securing a deal with the
sharks for ₹1,250 and 100 hours of mentorship.
2021: Raises ₹24.8 crore in seed funding from Avaana Capital
to scale Dharaksha’s operations.
2024: Expands Dharaksha’s product offerings to include
mushroom-resin MDF boards and biodegradable plastic films.
