PE Fund Investments
B2B waste mgmt marketplace Recykal raises Rs.110-Cr from 360 One
Hyderabad-headquartered B2B (business-to-business) waste management and recycling marketplace Recykal has raised INR 110 crore (about USD 13 million) from a Category II scheme managed by 360 One Asset Management Ltd.The investment has also allowed early-stage investors to achieve a multi-bagger exit.Founded in 2016, Recykal helps businesses fulfil their EPR (extended producer responsibility) targets, become plastic-neutral, dispose of IT assets, source recyclable materials, and track and trace industrial waste flow.Recykal had raised around USD 38 million across several rounds including a USD 22 million round led by Morgan Stanley India and Circulate Capital in January 2022. Before the current round, Morgan Stanley was the largest stakeholder with 27.05% in the company followed by Circulate Capital and Triton Fund. The firm’s co-founders Abhay Deshpande, Abhishek Deshpande and Anirudha Jalan cumulatively command 40.03% of the company.
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