11 April 2024 — Hyderabad-based climate tech startup Recykal raised Rs 110 crore (about $13 million) in a pre-Series B funding round led by 360 ONE Asset Management Limited.
Funding Details:
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, emphasizing the importance of demand aggregation and resource utilization for a sustainable future.
Conclusion:
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.