Nithin Kamath says business with Kolkata green startup boosted profits, rural income: 'Need more...'

Rainmatter founder and CEO Nithin Kamath and (right) the rural workforce of Amwoodo in West Bengal. (Image credit: Nithin Kamath/X)

Zerodha CEO and billionaire Nithin Kamath recently highlighted a successful partnership with Kolkata-based green startup Amwoodo, revealing a significant boost in both profits and rural incomes. Kamath took to X to share the impressive impact of their collaboration, underscoring the need for more such ventures across India.

Kamath detailed the tangible benefits reaped from his partnership with Amwoodo and its founder-director Agni Mitra. The most striking figures included a three-fold increase in rural incomes, jumping from approximately Rs 10,000 to Rs 30,000. It has directly benefited around 1,200 farmers and artisans, significantly improving their livelihoods.

The environmental impact is equally noteworthy, with 1.1 million bamboo trees planted and 384 metric tonnes of plastic diverted from landfills, Kamath said, adding that the initiative has led to an impressive 312,232 metric tonnes of CO2 offset, showcasing a powerful blend of ecological and economic advantages.

"The last few years of partnering Amwoodo and Agni Mitra has been special," Kamath wrote on X. "And yeah, the business is for profit and quite profitable."

Amwoodo, headquartered in Kolkata's Salt Lake, specialises in manufacturing personal care and extensive guest amenities from bamboo. Their client roster includes prominent names like Himalaya Wellness Company, Bombay Shaving Company, and ITC Hotels.

In 2024, Amwoodo secured its initial seed funding, with Rainmatter Climate—Nithin Kamath's philanthropic organisation—spearheading the investment. This financial backing further solidified the partnership and enabled Amwoodo to expand its sustainable operations.

Kamath expressed his hope that these positive trends would continue as the business expands, even while navigating the inherent pressures and competing priorities of growth. "We need more of such businesses in India," concluded.