Climate-tech startup Recykal has raised nearly $18 million (Rs 166 crore) in its Series D funding round led by Ajay Parekh, Vice-Chairman of Pidilite Industries, according to an Entrackr report.
The round also saw participation from existing investors 360 ONE, Strat Venture LLC, and Trinity Combine, the report said.
According to regulatory filings accessed by Entrackr, the Hyderabad-based company has approved the issuance of 35,971 Series D compulsorily convertible preference shares at Rs 46,275 apiece to raise the aforementioned amount. The funding was completed in two tranches, with Rs 128 crore raised in February and the remainder approved later.
Founded in 2016 by Abhay Deshpande, Recykal operates a digital waste management platform that connects brands, producers, recyclers, and waste collectors. The company claims to have channelised over 1.2 million metric tonnes of waste, accounting for more than 1.9% of India’s total waste generation.
Recykal last raised about $13 million in its pre-Series B funding round in April 2024.
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