Tuesday
June 11
2019

India’s Recykal Announces Closing of 2 Million Us Dollars Pre­Series a Funding for Its Expansion

Recykal, a cloud-based waste management and recycling enabler, on Monday announced the closing of Pre-Series A funding of 2 million US dollars for expansion of their footprint across the country.

Triton Investment Advisors (Triton), the family office of Ajay Parekh (Director, Pidilite Industries), and existing investor, Vijay Acharya (former Managing Director, Bank of Singapore) participated in this round, the company said in a release here.

The company’s technology solutions are deployed across 150 businesses and it is currently operational in Hyderabad, Pune and Bangalore, and channelizes more than 1000 metric tonnes of recyclables per month through its platform.

Recykal’s digital technology platform connects Waste Generators (businesses and consumers) with Waste Aggregators and Recyclers, facilitating transactions and offering visibility, transparency and traceability of recyclable waste.

Photo courtesy of Simone D. McCourtie.

Source: United News of India (link opens in a new window)

Categories
Environment, Technology
Tags
digital revolution, green business, recycling, social enterprise, tech for good, waste