11 April 2024 – Recykal, a startup, said on Wednesday that it had successfully collected Rs 110 crore via a pre-series B investment from a Category II plan in which 360 ONE Asset Management was the manager.
Additionally, the investment has “allowed early-stage investors to achieve a multi-bagger exit,” according to the Hyderabad-based technology business that offers a digitized waste management ecosystem.
“This investment will enable us to drive further innovation in our technology, products, and solutions as we embark on the next phase of our growth journey,” the company said. According to a statement released by Recykal’s founder and chief executive officer, Abhay Deshpande, this would make it possible for the company to accelerate its expansion and reinforce its position as a reliable partner in the field of sustainability.
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Morgan Stanley, Circulate Capital, Triton Investment Advisors, Ajay Parekh, Executive Vice Chairman of Pidilite Industries, Arun Venkatachalam, and Vellyan Subbiah from the Murugappa Group are among the current investors in Recykal, which has said that it has successfully secured a total of USD 35 million in investment up to this point.
