[Funding alert] Waste Management Startup Recykal Raises Rs 110 Cr Pre-Series B Funding

Recykal, a waste management and processing firm, has raised INR 110 Cr (about $13.2 Mn) from 360 ONE Asset Management as part of its Pre-Series B fundraising round.

The business said in a statement that its early-stage investors received multi-bagger exits because of this combination of primary and secondary funding, as reported by Inc42.

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CEO and the founder of Recykal, Abhay Deshpande, stated that the business will be able to further innovate its products, services, and technology because of this funding.

Recykal is a first-of-its-kind technology-driven solution provider for the waste management ecosystem and forms a key link between producers, waste generators, facilitators, and the different stakeholders in the waste management industry in India.

Recykal secured $22 million in 2022 in a funding deal headed by Morgan Stanley India. Numerous previous investors, such as Circulate Capital, Vellayan Subbiah, and Arun Venkatachalam, also participated in the round.

About Recykal

Founded in 2016 by Abhishek Deshpande, Recykal is the pioneer of the managed marketplace for the Circular Economy in India, enabling all stakeholders across waste management and recycling with a digitized waste management ecosystem.

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