Deal Overview
Hyderabad-based climate-tech firm Recykal has successfully closed a Series D funding round, raising approximately $18 million (Rs 166 crore). The round, which values the company at $280 million post-money, was led by Ajay Parekh, Vice Chairman of Pidilite Industries.
About Recykal
Founded in 2016 by Abhay Deshpande, Recykal provides a digital infrastructure platform that connects the fragmented waste management ecosystem. By linking brands, producers, recyclers, and waste aggregators, the company enables businesses to comply with complex Extended Producer Responsibility (EPR) regulations and transition toward circular economy models.
Investment Breakdown
- Lead Investor: Ajay Parekh
- Key Institutional Participants: 360 ONE, Strat Venture LLC, Trinity Combine, and Biological E Ltd.
- Strategic Allocation: The capital is earmarked for working capital optimization and strategic inorganic growth through corporate investments.
Market Context
This funding highlights the growing investor appetite for B2B climate-tech solutions in India. As regulatory pressure regarding waste disposal and sustainability compliance mounts, platforms like Recykal that digitize these manual workflows are seeing increased valuation multiples. The inclusion of industrial veteran Ajay Parekh indicates that the market sees strong synergies between traditional manufacturing sectors and digital circular economy platforms.