SUMMARY
- ReCircle has secured an undisclosed sum of investment through a bridge funding round, co-led by Venture Catalysts, Mumbai Angels, and HNIs.
- The funds will go towards diversification, expansion, and the establishment of its own recycling division.
- It had previously completed a pre-Series-A round with investments from Flipkart Ventures, 3i Partners, and Acumen Fund Inc.
Cleantech startup ReCircle has secured an undisclosed sum of investment through a bridge funding round, co-led by Venture Catalysts, Mumbai Angels, and a group of high-net-worth individuals (HNIs).
The investment received will be utilised for diversification, expansion, and the establishment of its own recycling division in the forthcoming months, as announced in a press release.
The company had previously completed a pre-Series-A round with investments from Flipkart Ventures, 3i Partners, and Acumen Fund Inc.
ReCircle, founded in 2016 by Rahul Nainani and Gurashish Singh Sahni, is dedicated to addressing India’s escalating waste crisis. The company’s mission is to empower both consumers and brands to divert waste from landfills and oceans, thereby contributing it back into the economy for recycling, reuse, or repurposing.
The startup has launched several flagship initiatives, including ClimaOne, Plastic EPR Service, Plastic Neutral Programs, and Project Extra Life. Its innovative platform, ClimaOne, tackles the existing challenges within the ecosystem by creating a unified, transparent platform that offers real-time tracking, supported by data analytics, and simplifies reporting and compliance.
ReCircle aims to promote ethical circularity and plans to integrate further into the plastic waste supply chain. This integration will allow the company to supply high-quality, traceable recycled plastic content to businesses utilizing plastic packaging. The company is set to achieve a revenue target of Rs 100 crore in the upcoming fiscal year.
