Let’s Recycle is an Ahmedabad-based dry waste management company and also the parent company of Nepra Resource Management Private Limited which has recently concluded its Series C funding round and raised a total sum of USD 18 million.
The funding round was led by Circulate Capital and Aavishkaar Group’s investment body, Aavishkaar Capital.
Waste management is a real issue in our country and companies like Nepra are working efficiently to improve upon this problem. Nepra, Co-founder and CEO, Sandeep Patel mentioned in a statement that with these newly acquired funds, the company aims to further expand their operations nation-wide and strengthen the roots of the company to cater to more and more needs of Indian cities regarding dry waste management solutions. Furthermore, Nepra is working closely and efficiently with municipalities to organise and segregate dry waste which consequently improves their revenues and ensure proper collection for recyclers. The company also aims to improve at every step of this value chain while maintaining efficiency.
To match the statistics of the waste management companies, Nepra is the largest collector and processor of dry waste in the country providing unique dry waste management solutions. The company has partnered with over 2,000 waste pickers that collect dry waste in one place, and it is known to process over 500 tonnes of dry waste on a daily basis from across Indore, Pune and Ahmedabad.
Nepra works as a bridge between several stakeholders invested in this cycle such as brand owners, waste pickers, municipalities and recycling agencies. The dry waste management company connects these dots by offering a unique, efficient, scalable and integrated waste management solution that profits everyone in the end.
On this latest investment, Rob Kaplan, CEO and Founder of Circulate Capital said that when communities in India need economic opportunities the most, companies like Nepra is creating job opportunities from managing plastic pollution, their unique waste management solution has converted into a resource for job opportunities in the country which directly serves its economy.
Furthermore, he added that with such a business model, the existing waste management value chains are going to be disrupted while Nepra creates an environmental, financial and social value within the country. Corporate investors of Circulate Capital and the team look forward to supporting Nepra in their expansion and creating a profound impact across the country.
Nepra uses a zero waste to landfill model in managing dry waste which segregates recyclable dry waste away from landfills, consequently delivering high-quality recyclable waste materials to recycling agencies. On the other hand, non-recyclable waste is used for energy recovery, according to reports.