Moneycontrol News
Aavishkaar and Asha Impact have invested Rs 44 crore as part of the Series-B round of equity investment raised by Let's Recycle, an Ahmedabad-based waste aggregation and processing company.
The company has leveraged advanced technology for processing of waste and developed a model that is modular, scalable and highly replicable.
It currently has a capacity of processing 100 tonnes of waste per day in Ahmedabad and will be extending its geographical presence to new cities with the fundraise.
“Our aim is to establish Let’s Recycle – NEPRA as the leader and the go-to company for large-scale dry waste management. We have seen impressive growth in Ahmedabad and this new round of funding from Aavishkaar and Asha Impact will help us expand our operations to 3 more cities and help us build the foundation for expansion across the country over the next 5 years," said Sandeep Patel, CEO, NEPRA.
"NEPRA exemplifies the core investment philosophy of Aavishkaar where scale, sustainability, and impact go hand in hand. We built a thesis around an investment in waste management, backed the founders of NEPRA at a very nascent stage and have been continuously investing in this company since 2013. NEPRA has clearly demonstrated the ability to create scale with sound economics while creating a massive impact on the ground," said Anurag Agarwal, Partner, Aavishkar Venture Management Services.
Let's Recycle is an initiative of NEPRA Resource Management Private Limited, founded by Sandeep Patel, Dhrumin Patel and Ravi Patel in 2011.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
