Recykal Raises $22 million from Morgan Stanley

By VARINDIA - 2022-01-11

Recykal Raises $22 million from Morgan Stanley

Recykal, a B2B marketplace for waste and provider of cloud-based solutions to facilitate transparent and traceable material flows in waste, has raised $22 million in funding by investment funds managed by Morgan Stanley India. Existing investors Circulate Capital, Vellayan Subbiah, and Arun Venkatachalam from the Murugappa Family also participated in this round. This is the second institutional fundraise by the company after a $4 million round in 2020.

 

India generates more than 60 million tonnes of municipal solid waste per annum, while a mere c.20% is processed or recycled. Rapid urbanization has made the country one of the top waste generators globally. The introduction of tighter regulations such as Extended Producer Responsibility (“EPR”) have imposed a high compliance requirement for brand owners.

 

Recykal already works with several of the world’s largest consumer brands to assist them in implementing sustainability solutions in India and the company has in parallel launched India’s first B2B Marketplace for waste that connects participants across the waste value chain to enhance efficiency and economics for all.

 

Recykal plans to use these funds for strengthening its technology, expanding its B2B marketplace pan India and building hyper-local waste processing infrastructure. This will enable the circular economy and help corporate India in achieving its sustainability goals.

 

Founded in 2016, Recykal has been recognized with several national awards and was the first Indian start-up in the World Economic Forum’s Circular Accelerator Program 2021. So far, Recykal has channelized 200,000 tonnes of dry waste through its platform back into the circular economy and away from landfills and water bodies by digitally connecting 100+ brands, 1000+ corporates, 150+ recyclers, 80+ Government agencies across all states and UT’s on one platform.

 

“Recykal Marketplace and other technology driven sustainability solutions have a direct impact on the waste management ecosystem and its stakeholders. These innovations will pave the way to tap into the $100 billion potential that the waste management industry holds. We believe partnering with Morgan Stanley will help us expand our solutions across the entire spectrum of the ecosystem. ”- Abhay Deshpande, Founder and CEO, Recykal

 

“We are excited to work with a management team that is at the heart of India’s waste management eco-system. Their vision for the company is inspiring and they have been executing consistently, even at the peak of the COVID-19 crisis. Waste management in India and many other parts of the world is already a big problem and it is getting worse. We believe our investment will allow Recykal to play a leadership role in implementing scalable and sustainable solutions to one of society’s biggest challenges”, said Raja Parthasarathy, Managing Director and Co-Head of Morgan Stanley India Infrastructure

 

“Over the past year, we have witnessed and been impressed time and again by Recykal’s continued growth and evolution. With a passionate team and cutting-edge end-to-end digital solutions, the company is making a real difference to advancing the circular economy in India. Recykal’s model is proof that the creation of both financial and environmental value can go hand in hand. We are proud to be supporting Recykal on its growth journey and partnering with them as they continue to scale their impact.”- Rob Kaplan, Founder and CEO, Circulate Capital


 CIO  - SPEAK
Start-Up and Unicorn Ecosystem
 SOFTWARE  Placeholder image
Newgen collaborates with Tech Mahindra to automate the finance process of Premium Credit

Newgen collaborates with Tech Mahindra to automate the finance process of Premium Credit

Newgen Software has announced that Premium Credit Limited, the leading provider of premium...

Faurecia Streamlines International Procurement Process with OpenText

Faurecia Streamlines International Procurement Process with OpenText

OpenText™ (NASDAQ: OTEX), (TSX: OTEX), today announced, Faurecia, a global leader in...

BD Software joins hands with Priyam Infosystems as its national distributor

BD Software joins hands with Priyam Infosystems as its national distributor

BD Soft has entered into a strategic partnership with Priyam Infosystems Pvt. Ltd. as a na...

VARINDIA SIITF
SOUTHERN INDIA INFORMATION TECHNOLOGY FAIR (SIITF) -2018
BANGALURU
VARIndia - Star Nite Awards
STAR NITE AWARDS(SNA) - 2018
NEW DELHI
VARINDIA - OITF
ODISHA INFORMATION TECHNOLOGY FAIR(OITF)-2019
BHUBANESWAR
VARINDIA - WIITF
WESTERN INDIA INFORMATION TECHNOLOGY FAIR(WIITF) - 2019
MUMBAI
 INDUSTRY EVENTS Placeholder image
Kaspersky, policy experts discuss improving ICT supply chain resilience in APAC

Kaspersky, policy experts discuss improving ICT supply chain resilience in APAC

For the past two years, the Asia-Pacific (APAC) region, like the rest of the world, has se...

KDEM to ramp up the digital economy by developing cluster cities

KDEM to ramp up the digital economy by developing cluster cities

As part of its Beyond Bengaluru initiative to ramp up the digital economy across the state...

GajShield organizes seminar with an aim to build on digital banking momentum in the BFSI sector

GajShield organizes seminar with an aim to build on digital banking momentum in the BFSI sector

With an aim to enable the BFSI sector in embracing a future-perfect digital world securely...


Copyright varindia.com @1999-2022 - All rights reserved.
Reproduction in whole or in part in any form or medium without express written permission of Kalinga Digital Media Pvt. Ltd. is prohibited.
Other Initiatives : www.mybrandbook.co.in | www.spoindia.org

advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription