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HomeInsightNews & Update Recykal raises $22 mn funding led by Morgan Stanley, existing investors

[Funding alert] Recykal raises $22 mn funding led by Morgan Stanley, existing investors

Abhay deshpande Recykal
Abhay deshpande

Indian w-commerce (Waste commerce) company Recykal has raised $22 million led by Morgan Stanley, existing investors.

Recykal was founded by Abhishek Deshpande,Abhay Deshpande & Anirudha Jalan in 2017. Recykal is India’s first w-commerce (Waste commerce) company that bridges gaps between waste generators and waste processors.

Recykal is an end-to-end digital solutions provider, facilitating transactions for all stakeholders across India’s waste management and recycling value chain.Their unique, integrated approach connects waste generators, processors, recyclers and brand owners to solve some of the biggest challenges faced by the industry including demand-supply mismatch and lack of transparency and traceability.

Company was awarded as the ‘Runner-up’ in the Indian Circular Economy Awards – Start-up category,2021 by FICCI and in the same month we were recognised as the Winner of Excellence in managing Plastic Waste by EPR strategies as a PRO’ by Confederation of Indian Industry (CII), 2021.

They do not just work with waste generators and recyclers, they work with all stakeholders in the waste ecosystem in India. So far they have connected with more than 400,000 consumers, 47 municipalities, 95 ULBs, 100+ brands, and more than 500 aggregators & recyclers across 30 states & UTs in India.

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