Thursday, July 18, 2024
Clean-Tech Innovator, ReCircle, Raises Pre Series-A Round from Flipkart Ventures, 3i Partners & Acumen Fund Inc. to Fuel Innovation & Growth
  SocialTwist Tell-a-Friend  

This investment bolsters ReCircle's ethical, circular economy mission, facilitating expanded hiring, technology scaling, and broader partner networks across new waste supply chains.

MUMBAI, India, Sept. 26, 2023 /PRNewswire/ -- ReCircle has experienced a remarkable leap in waste recovery rates, marking an impressive 290% increase in 2022-23 as compared to the last financial year. As plans unfold to double this recovery amount, the urgency is palpable, considering India's annual plastic waste production of 3.4 million tonnes, of which a mere 30% is presently recycled.

To this aim, ReCircle, a leading resource recovery clean-tech innovator, recently closed its pre-series A fundraise led by Flipkart Ventures, 3i Partners, Acumen Fund Inc and a pool of HNI investors.

"This achievement fuels our ambitious growth strategy, empowering us to expand our technology and service capabilities as well as our partner networks into new waste supply chains. With our technology-enabled waste supply chain platform, we are poised to efficiently and transparently handle waste recovery across India in a scalable and cost-effective way. We  are committed to drive greater change across the value chain by organising the sector, and taking an active role in the transition to a circular future", said Rahul Nainani β€” Co-Founder & CEO, ReCircle.  

Lubna Ahmed β€” Head of Flipkart Ventures said, "Flipkart has always been at the forefront of empowering the startup ecosystem in India. We are excited to witness the transformative journey of startups in India as they harness Flipkart's resources and guidance to bring their innovative ideas to life. We are pleased to invest in ReCircle as it continues to fuel innovation and growth in its industry. The investment is being made by Flipkart Ventures through its cohort-based Leap Ahead program".

The fundraise will equip ReCircle to enhance its service offerings for brands and expand its partner network currently comprising a 350+ collector network. The investment will also enable ReCircle to scale its existing waste supply chain, digitise it further and propel it towards venturing into new waste supply chains such as paper, textile, glass etc.

Additionally, over the years, the company has improved urban waste systems pan-India by working directly and indirectly with over 3100 informal waste workers, having impacted their lives and improved livelihoods. Armed with fresh capital, ReCircle will continue to build strategies to reach the last-mile of the value chain ensuring dignity and equity for informal waste workers. "Acumen is excited to join ReCircle as an investor to support the company's vision of transforming waste into a valuable resource and bringing dignity to the work of people working in the waste management value chain who are often overlooked. This investment supports Acumen India's initiative on pioneering green jobs", said Paraag Sabhlok β€” Associate Director, Portfolio (India), Acumen.  

"We are delighted to partner with passionate environmentalists and entrepreneurs, Rahul and Gurashish in their journey towards a more responsible, sustainable future", said Shalini Chhabra of 3i Partners.

The round of investment is driven by ReCircle's significant revenue growth, strong traction pan-India, and competitive advantage as a technology-forward company, which it has established year after year.

About ReCircle

Founded in 2016 by Rahul Nainani & Gurashish Singh Sahni, ReCircle is a resource recovery clean-tech innovator working towards a circular future. ReCircle empowers consumers and brands to divert waste away from landfills and oceans, back into the economy to be recycled, reused or repurposed.

Headquartered in Mumbai, ReCircle has diverted over 1,00,000+ MT (equivalent to the weight of 16,666 elephants) of waste from oceans and landfills across 270 cities & towns in India with the help of 45+ processing partners who have a pan-India network of 350+ collection partners and impacted over 3100 livelihoods (Safai Saathis).

As a technology-enabled enterprise, ReCircle enables transparency, traceability and accountability in the resource value chain to promote sustainable production and consumption of resources. To achieve its mission, ReCircle has instituted flagship initiatives such as, ClimaOne (a revolutionary tech-enabled platform designed to transform the informal waste supply chain), Plastic EPR Service, Plastic-Neutral programs and ground-level community collection drives.

For more information visit:

Email Address:



Cision View original content to download multimedia:

More News by PR Newswire India


Kushal's Fashion Jewellery Festive Collection, adorned by Tara Sutaria, beautifully combines glamour and elegance

Unilumin Group Signed an Agreement with Saudi Arabia in the Third Belt and Road Forum for International Cooperation

Transport Corporation of India Ltd. (TCI Group) has been recognized as a Maritime Excellence Achiever at GMIS 2023 by The Ministry of Ports, Shipping & Waterways on 19th October 2023

Bitget Introduces 'Futures Quant' With AI Features

Bitget's Q3 Growth: Second-Highest Market Share Surge and Record High for BGB Holders

HarperCollins Publishers India is proud to announce the publication of SPREADING JOY: How Joyalukkas Became the World's Favourite Jeweller by Joy Alukkas with Thomas Scaria and Nidhi Jain

Go Global or Go Home: New Report Reveals Companies Lacking Global Presence Will Lose Growth Opportunities

MOVIN rolls out the second phase of Electric Vehicles in Bengaluru paving the way for greener deliveries in logistics

Motilal Oswal Financial Services Ltd. (MOFSL) launches #CorporateMushaira, an audio-first campaign for the World Investor Week

UBBF 2023 Intelligent IP Network Summit in Dubai an Impressive Success

Placing Them Right: IBS Path to MBA Career Success

HDFC ERGO reiterates its commitment on making health insurance Accessible, Affordable and Convenient with launch of 6 new products and 2 service upgrades

capSpire expands its global footprint with entry into the Singapore market

GTPL Hathway records its highest quarterly revenues from operation

CCTV+: International reporters experience the romance and vitality of Hangzhou, China

STL expands its Enterprise Networking solution portfolio with Estelan

Mantittude: Skincare for Men encourages men to unleash their inner 'Pataka' this Diwali

The 134th Canton Fair Opened with Optimized Structure and Upgraded Scale


Ugreen unveils power solutions and personal data storage at the Gitex Trade Show in United Arab Emirates.

Meridean Overseas Education Consultants Announces Half-Day Leave to Celebrate India vs. Pakistan Cricket Match

Xinhua Silk Road: Huai'an, UNESCO creative city of gastronomy, explores innovative dev. of food industry via premier regional food expo

Xinhua Silk Road: Fengxin County in E. China's Jiangxi celebrates bountiful harvest of kiwifruit

Casio to Release G-SHOCK Watches with Shining Metallic-Colored Dials

UEG Week 2023 : Babies with a low birthweight four times more likely to develop fatty liver disease in later life

CGTN: Diffusion of tea and its culture along the Silk Road

NEOM announces Leyja, its latest sustainable tourism destination

Expand North Star 2023 kicks off in Dubai gathering game-changing start-ups to accelerate on global stage

World Health Summit kicks off in Berlin

Hexaware Technologies announces new office in Dehradun to bolster its global delivery network

Chinese automotive industry has overtaken to supercars

Participants of the Made in Russia business mission to India held more than 150 negotiations with local importers and distributors

Rummy Passion Raises the Bar: Instant Withdrawals Now Available for All Tiers

MP: Issues faced by beneficiaries of gov...
Karnataka govt instructs hospitals to re...
Tripura CM Dr. Manik Saha leads nominati...
Fire breaks out in car repair shop in Sr...
Sudhanshu Trivedi criticizes Rahul Gandh...
'Unconstitutional, no need for reservati...
 Top Stories
UAE Research Programme for Rain Enh... 
Manav Utthan Seva Samiti hands over... 
NFDC and Netflix partner to launch ... 
MP cabinet approves implementation ... 
Day 4 Results: 2nd Hockey India Sub... 
Shivraj Singh Chouhan unveils four ... 
Katrina all smiles as she attends s... 
As Pakistan aims to double its expo...