JITO Incubation and Innovation Foundation (JIIF), the only community-based angel network in India, has invested an undisclosed amount in a Pre-Series round in Ecowrap. The investment series was led by JITO Incubation and Innovation Foundation
Founded on Oct 2020, Ecowrap is a tech-based waste management solution entirely based on waste segregation at the source for HORECA (Hotel, Restaurant, Cafe) industry. The company’s innovative business model aims to make waste management services viable and scalable by offering a comprehensive end-to-end solution on a single platform. This solution includes waste segregation at the source, supply chain management, and the production of upcycled products.
Ecowrap has developed an advanced tech-based solution that focuses on waste segregation at its source, catering specifically to the waste generated by the HORECA (Hotel, Restaurant, Cafe, Bar, and so on) industry. By providing a comprehensive suite of services including waste segregation, collection, tracking, recycling, and upcycling, Ecowrap aims to tackle the environmental challenges associated with waste management.
Angraj Swami, Co-founder, Ecowrap, said “We are delighted to have received the support from JIIF. This capital infusion will be instrumental in realizing our expansion goals and allowing us to establish a presence in various cities. With our commitment to waste management and sustainability, we are determined to provide the best-in-class solution to our clients. We are also immensely proud to contribute to the economic empowerment of rural women through our upcycling initiatives.”
Pooja Mehta Chief Operating Officer, JITO Incubation and Innovation Foundation, “It is a pleasure to partner with Ecowrap as the lead investor in this funding round. Their innovative approach to waste management, centered around waste segregation at the source, has the potential to create a significant positive impact on our environment. We believe in Ecowrap’s mission and are confident in their ability to revolutionize the industry.”
Ecowrap has quickly gained recognition for its tech based waste management solution. The platform has successfully brought together over 1130 HORECA units, implementing a mechanism for waste segregation at the source. In addition to its waste management efforts, Ecowrap is making a social impact by economically empowering women from underprivileged backgrounds through the upcycling of waste materials.
Ecowrap is a tech-based reverse supply chain model solely focused on waste segregation at the source. We provide the required infrastructure to waste generators to bring back these waste materials into the value chain. ECOWRAP facilitates its users with dustbins, Training, and decentralized and tech-enabled door-step waste collection service. To promote waste segregation, it incentivizes waste generators based on ratings of segregation. ECOWRAP’s application is instrumental in providing sustainable ratings for individual entities, allowing businesses to receive real-time feedback on their waste segregation practices.
About JITO Incubation and Innovation Foundation (JIIF)
JIIF, as a subsidiary of Jain International Trade Organization (JITO), has consistently played a pivotal role in promoting innovation and entrepreneurship in India. With the support of our esteemed investors like you, we have made significant strides, investing upwards of Rs. 150 crores in 80 companies and incubating 25+ Jain entrepreneurs.