Total amount raised
$44.5 Millions
Latest funding date
Location
Recykal has successfully raised significant funding across multiple rounds, attracting a diverse group of investors. The platform offers innovative solutions for waste management and sustainability, leveraging technology to drive circular economy initiatives.
Keep reading to explore the intricacies of Recykal's fundraising journey and the investors backing this transformative platform.
What Is Recykal?
Recykal, founded in 2016, is an Indian clean-tech startup based in Hyderabad, Andhra Pradesh. The company was established by Abhay Deshpande, Abhishek Deshpande, Anirudha Jalan, Ekta Narain, and Vikram Prabakar.
Recykal provides cloud-based solutions for waste management and recycling, connecting waste generators with aggregators and recyclers. Their platform enables transparent and traceable transactions, promoting a circular economy.
With a workforce of 251-500 employees, Recykal continues to innovate in the sustainability sector, offering services like EPR solutions, e-waste disposal, and traceable plastic recovery.
How Much Funding Has Recykal Raised?
- Seed Round
- Amount Raised: $2M
- Date: June 2019
- Lead Investors: Triton Investment Advisors LLP
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop initial technology solutions.
- Series A
- Amount Raised: $22M
- Date: January 2022
- Lead Investors: Morgan Stanley
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and enhance technological capabilities.
- Series A (Additional)
- Amount Raised: $7.4M
- Date: September 2022
- Lead Investors: Morgan Stanley
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and support ongoing projects.
- Series B
- Amount Raised: ₹1.1B (approximately $13M)
- Date: April 2024
- Lead Investors: 360 ONE Asset
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To drive innovation in technology and products, and to support growth and expansion.
Total Amount Raised: $44.4M. Current Valuation: Not publicly disclosed.
Key Investors
- Morgan Stanley
- Details: Morgan Stanley is a global financial services firm providing investment banking, securities, wealth management, and investment management services. It has a significant presence in the financial sector and is known for its extensive portfolio of investments.
- Investment Focus Areas: Technology, financial services, sustainability.
- Notable Investments: Recykal, Airbnb, Uber.
- 360 ONE Asset Management
- Details: Formerly known as IIFL Asset Management, 360 ONE Asset Management specializes in wealth management and alternative investments. It is part of the 360 ONE group, which manages over $54 billion in assets.
- Investment Focus Areas: Wealth management, alternative investments, sustainability.
- Notable Investments: Recykal, Nazara Technologies, Bikaji Foods.
- Circulate Capital
- Details: Circulate Capital is an investment management firm dedicated to financing companies that prevent ocean plastic and advance the circular economy. It focuses on sustainable investments that have a positive environmental impact.
- Investment Focus Areas: Waste management, recycling, sustainability.
- Notable Investments: Recykal, Tridi Oasis, Lucro.
- Triton Investment Advisors LLP
- Details: Triton Investment Advisors LLP is a private investment firm. It focuses on providing capital to companies across various sectors, aiming to support their growth and development.
- Investment Focus Areas: General private investments.
- Notable Investments: Recykal.
- Murugappa Group
- Details: The Murugappa Group is a diversified business conglomerate in India, with interests in sectors such as engineering, finance, and agriculture. It is known for its strong presence in the Indian market.
- Investment Focus Areas: Engineering, finance, agriculture.
- Notable Investments: Recykal, Cholamandalam Investment and Finance Company, Tube Investments of India.
What's Next for Recykal?
Recykal stands at the cusp of significant growth opportunities, driven by the increasing emphasis on sustainability and the circular economy. With the Indian market projected to reach a $2-trillion opportunity by 2050, Recykal's innovative solutions in waste management and recycling position it well to capitalize on this expansive market. The company’s ability to process 700,000 metric tons of waste and its extensive network of over 400 brands and 500+ recyclers underscore its potential for substantial impact and growth.
Future fundraising appears promising, given the successful rounds led by prominent investors like Morgan Stanley and 360 ONE Asset Management. As the demand for sustainable solutions grows, Recykal is likely to attract further investment to scale its operations and enhance its technological capabilities. However, challenges such as navigating regulatory changes, maintaining operational efficiency, and facing competition from other tech-driven startups could pose hurdles. Despite these challenges, Recykal's strong market presence and innovative approach suggest a bright future ahead.
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