Climate Insider Brief:
- Recykal secures $13 million funding to enhance its technology, products, and solutions, reinforcing its role as a leading sustainability partner.
- CEO Abhay Deshpande emphasises the potential for significant growth acceleration.
- Industry experts like Sameer Nath applaud Recykal’s efforts in achieving circularity within the value chain.
PRESS RELEASE – April 11, 2024 – The investment will fuel Recykal’s innovation in technology, products, and solutions, strengthening its position as a trusted sustainability partner. Founder and CEO Abhay Deshpande highlighted the potential for amplified growth.
The funding round also provided an exit opportunity for early-stage investors. Recykal has now secured a total of $35 million in funding, with investors like Morgan Stanley, Circulate Capital, and others on board.
Sameer Nath, CIO and Head of Private Equity at 360 ONE Asset, praised Recykal’s progress in achieving circularity in the value chain, emphasising the importance of demand aggregation and resource utilisation for a sustainable future.
Recykal’s successful funding round reflects investor confidence in its mission to drive sustainability through innovative solutions. The investment not only supports Recykal’s growth trajectory but also underscores the increasing focus on circular economy initiatives in India’s startup ecosystem.
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SOURCE: Karo Startup
Featured Image: Credit: Recykal
