Total amount raised
$44.5 Million
Latest funding date
4/1/2024
Location
Recykal has successfully raised funding through 4 rounds, with notable investors including Morgan Stanley, Murugappa Group, and 360 ONE Asset. The company operates the largest Circular Economy Marketplace in Asia, connecting waste generators, recyclers, and processors to facilitate a circular economy.
Keep reading to explore the intricacies of Recykal's fundraising journey and the investors backing this innovative platform.
What Is Recykal?
Recykal, based in Hyderabad, Telangana, India, is a pioneering clean-tech startup driving the largest Circular Economy Marketplace in Asia. The company operates within the Information Technology and Software industries, focusing on sustainable circularity.
Founded with a mission to enhance India's circular economy, Recykal employs between 251 and 500 people. The company offers tailored solutions for brands, governments, and the circular marketplace, promoting sustainability through innovative technology.
How Much Funding Has Recykal Raised?
- Seed Round
- Amount Raised: USD 2,000,000
- Date: June 2019
- Lead Investors: Triton Investment Advisors LLP
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop initial technology solutions.
- Series A Round (First)
- Amount Raised: USD 22,000,000
- Date: January 2022
- Lead Investors: Morgan Stanley
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand market presence.
- Series A Round (Second)
- Amount Raised: USD 7,360,000
- Date: September 2022
- Lead Investors: Morgan Stanley
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue growth and enhance technological capabilities.
- Series B Round
- Amount Raised: USD 13,000,000
- Date: April 2024
- Lead Investors: 360 ONE Asset
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the development of technology, products, and solutions, and to facilitate the exit of early-stage investors.
Total Amount Raised: USD 44,360,000. Current Valuation: Not publicly disclosed.
Key Investors
- 360 ONE Asset Management
- Details: Formerly known as IIFL Asset Management, 360 ONE Asset Management is part of the 360 ONE group. It specializes in wealth management and alternative investments.
- Investment Focus Areas: Wealth management, alternative investments
- Notable Investments: Recykal
- Morgan Stanley
- Details: Morgan Stanley is a leading global financial services firm providing investment banking, securities, wealth management, and investment management services. It has a significant presence in the financial sector worldwide.
- Investment Focus Areas: Investment banking, securities, wealth management, investment management
- Notable Investments: Recykal
- Circulate Capital
- Details: Circulate Capital is an investment management firm dedicated to financing companies, projects, and infrastructure that prevent the flow of plastic waste into the ocean and advance the circular economy.
- Investment Focus Areas: Prevention of plastic waste, circular economy
- Notable Investments: Lucro Plastecycle, Tridi Oasis
- Triton Investment Advisors LLP
- Details: Triton Investment Advisors LLP is a private investment firm that focuses on investing in companies with strong growth potential. It has a diverse portfolio across various sectors.
- Investment Focus Areas: Companies with strong growth potential
- Notable Investments: Recykal
- Key Individuals from Pidilite
- Details: Pidilite Industries is a well-known Indian adhesives manufacturing company. Key individuals from Pidilite have invested in Recykal, leveraging their expertise in the industrial and chemical sectors.
- Investment Focus Areas: Adhesives, chemicals
- Notable Investments: Recykal
What's Next for Recykal?
Recykal stands at the cusp of significant growth opportunities, driven by the increasing focus on sustainability and the circular economy. With the recent funding, the company is poised to expand its technology and solutions, helping businesses meet their Extended Producer Responsibility (EPR) targets and become plastic-neutral. The market for sustainability solutions in India is projected to grow to a $2-trillion opportunity by 2050, providing ample room for Recykal to scale its operations and strengthen its market presence.
Future fundraising opportunities appear promising, given the successful recent rounds and the involvement of high-profile investors. As the demand for innovative waste management solutions grows, Recykal is likely to attract further investments to support its expansion and technological advancements. However, the company may face challenges such as navigating regulatory changes, managing rapid growth, and staying ahead of the competition in the tech-driven waste management sector.
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