PE Fund Investments
B2B waste mgmt marketplace Recykal raises $22-M from Morgan Stanley India, others
Recykal, a Hyderabad-based B2B platform for waste management and recycling marketplace, has raised USD 22 million from Morgan Stanley India. Existing investor Circulate Capital and Murugappa Group promoter family members Vellayan Subbiah and Arun Venkatachalam, also participated in the round. The new funds will be used to strengthen technology and expand the company's B2B marketplace, apart from building hyperlocal waste processing infrastructure. Founded in 2016 by Abhay Deshpande, Recykal is a digital solutions provider that facilitates transactions for all stakeholders across India's waste management and recycling value chain to promote more efficient and effective recycling of plastic waste, e-waste. Recykal claims to have more than 400,000 consumers, over 1,000 businesses, 500 aggregators and waste management companies, more than 100 recyclers and 30 municipalities across 25 states and union territories.
From the Venture Intelligence PE-VC Deal Database: In Jun-2019 and Nov-2020, Recykal had raised over USD 3 million from Circulate Capital, Triton Fund and Others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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