Ahmedabad-based Nepra Resource Management, which operates under the brand name Let’s Recycle, has raised $18 million in Series C funding led by Aavishkaar Capital and Circulate Capital, per an announcement.
The latest capital infusion has also provided a partial exit to Aavishkaar Capital fund, which had invested in the company in 2013.
“We aim to utilise this Series C funding to further expand our operations nationally and strengthen our capacity to cater to the growing needs of cities for dry waste management solutions,” Sandeep Patel, co-founder and CEO, NEPRA said.
Nepra has partnered with over 1,700 waste pickers and collectors across the country, and processes over 500 tonnes per day across Ahmedabad, Pune, and Indore. The company also claims to have improved the lives of more than 5,000 people from the base of the waste pyramid over eight years.
INDIA DEAL MONITOR
Here are prominent venture capital transactions in India from November 12-15, 2020.
