Hyderabad-based Recykal is making waves in the sustainability sector with a landmark Rs 110 crore pre-series B funding round from 360 ONE Asset Management’s Category II scheme. This substantial investment accelerates Recykal’s mission to revolutionize waste management through its tech-driven ecosystem, enhancing waste collection, processing, and recycling across India.
The latest funding reflects strong investor confidence in Recykal’s commitment to transforming waste management practices. Abhay Deshpande, Founder and CEO of Recykal, highlights the investment’s role in driving further technological advancements and innovative solutions, aiming to position Recykal as a leader in sustainable practices.
With a total of $35 million raised to date, Recykal’s impressive funding history includes backing from notable investors such as Morgan Stanley, Circulate Capital, Triton Investment Advisors, and prominent individuals like Ajay Parekh of Pidilite Industries, alongside Arun Venkatachalam and Vellyan Subbiah of the Murugappa Group.
Recykal’s approach merges environmental conservation with economic opportunity through its technology platform, which streamlines waste segregation and recycling. This model not only tackles urgent environmental challenges but also promotes the circular economy concept.
Aligned with India’s National Circular Economy Framework and the Confederation of Indian Industry (CII), Recykal is well-positioned to lead in the potential $2 trillion circular economy space in India by 2050. This alignment underscores the importance of innovation in reaching national sustainability goals.
360 ONE Asset Management, part of the prestigious 360 ONE group, provides valuable financial and strategic support to Recykal’s mission, with $54 billion in assets under management reflecting the firm’s commitment to fostering sustainable growth.
Recykal’s progress signifies a major leap forward in innovative waste management solutions in India. Through cutting-edge technology and strategic investments, Recykal is addressing waste management challenges and spearheading the move towards a sustainable, circular economy, showcasing technology’s transformative role in achieving ecological balance.