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Recykal, a Hyderabad based cleantech platform, has secured $23 million in a bridge funding round, drawing participation from existing institutional investors and a network of family offices. The round comprises a mix of primary and secondary transactions, reflecting sustained confidence in the company’s long-term growth trajectory and its role in reshaping waste management infrastructure globally.
Strengthening the Technology Backbone
Founded in 2016 by Abhay Deshpande, Abhishek Deshpande, Ekta Narain, Vikram Prabakar, and Anirudha Jalan, Recykal has consistently positioned itself at the intersection of technology and environmental responsibility. The platform operates a B2B marketplace connecting buyers and sellers of recyclable materials, while offering software solutions that enable brands to monitor and report plastic and e-waste recycling in accordance with regulatory frameworks. The fresh capital will be directed toward deepening these technology investments, ensuring the platform remains equipped to handle growing domestic and international demand.
Scaling the Deposit Return System
One of Recykal’s most ambitious undertakings is its Deposit Return System, currently being piloted across several Indian states including Goa, Himachal Pradesh, Kerala, and Tamil Nadu, with operations also extended to Bhutan. The DRS model incentivises consumers to return used packaging for recycling, creating a structured and accountable loop within the supply chain. The new funding is expected to accelerate these deployments significantly, expanding coverage and impact across underserved geographies.
A Clear Path to Global Expansion
Recykal’s leadership has articulated a clear vision for international growth. The company intends to enter European and UK markets through a combination of organic expansion, strategic partnerships, and targeted acquisitions. As global regulatory pressure around plastic accountability and extended producer responsibility intensifies, Recykal’s compliance-driven model positions it favourably among international buyers and policymakers alike.
Financial Performance Reflects Momentum
The funding announcement is complemented by strong financial performance. Recykal reported gross revenue of ₹1,498 crore in FY26, representing a year-on-year growth of 53.2% from ₹978 crore in FY25. With total funding now exceeding $35 million, including backing from Morgan Stanley and 360 ONE Asset Management, the company demonstrates both investor trust and commercial viability.
As circular economy principles gain global urgency, Recykal’s expansion signals a pivotal moment for technology-led sustainability solutions originating from India.
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