Liquidity Events
Triton Fund exits from B2B waste mgmt marketplace Recykal
Lastaki Advisors' venture arm, Triton Investment Advisors (via Triton Fund I) has exited Hyderabad-headquartered B2B (business-to-business) waste management and recycling marketplace Recykal through a secondary transaction, with a 7x return multiple, which represents 1.2x of the entire Triton Fund-I.With this exit, Triton has exited three investments (including one partial exit) out of six portfolio companies from Fund-I.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.
Between May 2019 and Feb 2024, Recykal had attracted about USD 46 M from Circulate Capital, Triton Fund, Morgan Stanley, OthersFor FY24, Recykal had reported about INR 707 Cr in Operating Income and about INR 34 Cr in Net Loss.
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