ReCircle, a resource recovery clean-tech innovator, recently closed its pre series A fundraise led by Flipkart Ventures, 3i Partners, Acumen Fund Inc and a pool of HNI investors.
“This achievement fuels our ambitious growth strategy, empowering us to expand our technology and service capabilities as well as our partner networks into new waste supply chains. With our technology-enabled waste supply chain platform, we are poised to efficiently and transparently handle waste recovery across India in a scalable and cost-effective way. We are committed to drive greater change across the value chain by organising the sector, and taking an active role in the transition to a circular future”, said Rahul Nainani, Co-founder and CEO, ReCircle.
Lubna Ahmed, Head of Flipkart Ventures, said, “Flipkart has always been at the forefront of empowering the startup ecosystem in India. We are excited to witness the transformative journey of startups in India as they harness Flipkart’s resources and guidance to bring their innovative ideas to life. We are pleased to invest in ReCircle as it continues to fuel innovation and growth in its industry. The investment is being made by Flipkart Ventures through its cohort-based Leap Ahead program.”
The fundraise will help ReCircle to enhance its service offerings for brands and expand its partner network currently comprising a 350+ collector network. The investment will also enable ReCircle to scale its existing waste supply chain, digitise it further and propel it towards venturing into new waste supply chains such as paper, textile, glass etc., it said in a statement.
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