Consumer goods major Procter & Gamble (P&G) India on Thursday said it had set up a Rs 200-crore fund that would partner and invest in companies that provided environmentally sustainable solutions. The new fund is in addition to its innovation sourcing fund that the company, the local unit of the world's largest consumer goods firm P&G, had launched last year.
So far, P&G India has spent Rs 200 crore through the innovation sourcing fund, investing in start-ups that provide interesting ideas and solutions to business problems. Rival Unilever, the world’s second-largest consumer goods firm, through Unilever Ventures, has been backing start-ups in India across categories such as beauty, wellness, data analytics and grocery.
The local arm of P&G, meanwhile, is hosting an event to identify companies that drive sustainable solutions including those in packaging, manufacturing and energy utilisation.