Recykal raises Rs 110 cr in pre-series B funding round

Recykal raises Rs 110 cr in pre-series B funding round

Startup Recykal on Wednesday said it has raised Rs 110 crore in a pre-series B investment from a Category II scheme managed by 360 ONE Asset Management.

The Hyderabad-based tech startup, which provides a digitised waste management ecosystem, said the investment has also ''allowed early-stage investors to achieve a multi-bagger exit''.

''As we embark on the next phase of our growth journey, this investment will enable us to drive further innovation in our technology, products and solutions. Thus, this will pave the way for us to amplify our growth and strengthen our position as a trusted sustainability partner,'' Recykal Founder and CEO Abhay Deshpande said in a statement.

Recykal said it has raised a total of USD 35 million in funding to date and existing investors include Morgan Stanley, Circulate Capital, Triton Investment Advisors, Ajay Parekh, Executive Vice Chairman of Pidilite Industries, Arun Venkatachalam and Vellyan Subbiah from the Murugappa Group.

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