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The corporate plans to increase its capability and handle dry waste throughout the nation
Aavishkaar Capital undertook a partial exit from its earlier fund, which had first invested in 2013 within the firm
Nepra processes over 500 tonnes of dry waste daily throughout Ahmedabad, Indore and Pune with the assistance of 1,700 collectors
Ahmedabad-based dry waste administration firm Nepra Useful resource Administration Non-public Restricted has raised $18 Mn in Sequence C funding from Aavishkaar Capital and Flow into Capital.
With the recent capital, the corporate plans to increase its capability and handle dry waste throughout the nation.
Current investor Aavishkaar Capital undertook a partial exit from its earlier fund, which had first invested in 2013 within the firm, as part of this spherical, the corporate mentioned in a press release.
Nepra processes over 500 tonnes of dry waste daily throughout Ahmedabad, Indore and Pune with the assistance of 1,700 collectors. The corporate claims to have positively impacted the lives of 5K individuals on the very backside of the waste administration trade over the past eight years.
Sandeep Patel, cofounder and CEO, Nepra, mentioned, “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. Our ability to work closely with municipalities to organise dry waste collection, improve revenues for the informal sector, and ensure quality feedstock for recyclers, has seen our systems become indispensable and improve efficiency along the entire value chain.”
Nepra provides an built-in, environment friendly and scalable waste administration resolution that connects all stakeholders alongside the worth chain, from municipalities to casual waste pickers, in addition to recyclers and model house owners.
Commenting on the agency’s funding, Rob Kaplan, Founder and CEO from Flow into Capital, added, “At a time when communities need economic opportunities more than ever, Nepra is poised to scale its unique model of turning plastic pollution from a scourge into a resource for job creation and a thriving circular economy. With this investment, we see tremendous opportunity to disrupt the waste management and recycling value chain while creating financial, environmental and social value. Alongside our corporate investors, we look forward to supporting Nepra’s expansion and scaling their impact across the country.”
Nepra claims that 62 Mn metric tons of municipal waste is generated yearly. Although India collects 90% of the waste generated, 80% of this goes into open landfills or the atmosphere.
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