Recykal is a technology company.
Recykal is a first-of-its-kind integrated tech platform that empowers every stakeholder in the waste management ecosystem, aiming to build a self-sustaining circular economy in India.
Recykal has raised $35.0M across 2 funding rounds.
Recykal has raised $35.0M in total across 2 funding rounds.
Recykal has raised $35.0M in total across 2 funding rounds.
Recykal's investors include Astanor Ventures.
Recykal is a Hyderabad-based digital technology company founded in 2016, specializing in waste management and recycling solutions to build a circular economy in India.[1][4][6] It builds a tech-driven "w-commerce" platform, including cloud-based web and mobile apps, AI-powered reverse vending machines, and a B2B marketplace (CircularNet), serving brands, governments, recyclers, waste generators, and consumers across over 30 Indian states and union territories.[1][2][3][4] The platform solves India's fragmented waste ecosystem—marked by silos, low visibility, and landfill overflow—by enabling Extended Producer Responsibility (EPR) compliance, waste tracking, traceability, and efficient channelization, having diverted over 1.2 million metric tonnes of waste (including 50,000 tonnes monthly from landfills) and preventing billions of plastic bottles, metals, paper, and e-waste from disposal.[1][3][4] Growth momentum is strong: from 30,000 tonnes recycled in 2018 to over 1 million by 2023, with partnerships across 620+ brands, 675 recyclers, and integrations like Google AI for 90%+ material detection accuracy.[3][4]
Recykal was founded in 2016 in Hyderabad, India, by Abhay Deshpande, Abhishek Deshpande, Ekta Narain, Vikram Prabakar, and Anirudha Jalan, who identified a fragmented waste management system where citizens, governments, brands, recyclers, and informal sectors operated in silos with poor accountability.[4][6] The idea emerged from recognizing technology's potential to bridge these gaps, inspired by the need for a self-sustaining circular economy amid India's growing waste crisis.[2][5][6] Early traction came in 2017 with a marketplace platform connecting waste centers to recyclers; by 2018, it recycled over 30,000 metric tons of plastic across 25 states.[4] Pivotal shifts included a 2019 pivot to B2B EPR services for brands and expansions like India's first digital deposit refund system (DRS) in Uttarakhand in 2022, earning awards such as the 3R Award and Digital India Award.[4]
Recykal rides the global circular economy trend, addressing India's waste explosion—exacerbated by urbanization and population—where recyclables often end up burned, dumped, or landfilled, harming poorer communities.[2][3] Timing aligns with India's EPR mandates and digital transformation push (e.g., Digital India), amplified by post-2020 sustainability regulations and AI advancements like Google’s open-source models.[3][4] Market forces favoring it include rising brand accountability, government digitization needs, and demand for traceable "w-commerce," positioning Recykal as Asia's fastest-growing waste marketplace.[1][3] It influences the ecosystem by modernizing informal sectors, providing waste data to authorities for better planning, fostering behavioral changes, and scaling recycling via tech—diverting 5%+ of waste nationally while enabling predictable incomes for collectors.[2][3][5]
Recykal is poised to dominate India's waste tech space, expanding AI-driven tools like DRS vending machines and CircularNet globally while deepening EPR services amid stricter regulations.[3][4][5] Trends like AI for contamination reduction, blockchain traceability, and international circular mandates will accelerate growth, potentially channeling 5M+ tonnes annually. Its influence may evolve from national platform to Asia-Pacific leader, empowering brands and governments in a $1T+ global recycling market—transforming trash into a self-sustaining economic engine, as envisioned from its fragmented origins.[1][2][5]
Recykal has raised $35.0M across 2 funding rounds. Most recently, it raised $13.0M Series B in April 2024.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Apr 1, 2024 | $13.0M Series B | Astanor Ventures | |
| Jan 1, 2022 | $22.0M Series A | Astanor Ventures |