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May 09, 2013

Deal Alert: Waste management firm Nepra in talks to raise $10-M

Ahmedabad-based dry waste management firm Nepra Resource Management is looking to raise $9-10 million and is in talks with both impact investors and commercial VC funds. Every day, the startup, which operates under the Let’s Recycle brand, collects an assortment of discarded items such as plastic bottles, cans, tetra packs, bubble wrap and batteries and makes them recycle-worthy. It collects an average of 5-7 ton of such dry waste daily and expects to up its volumes to 15 ton a day in a couple of months. 

In January, Nepra had raised an undisclosed amount in funding from Mumbai-based impact investor Aavishkaar, which reportedly acquired a 15% stake. The funding was used primarily to prove the business model and set up a material recycling facility. Aavishkaar is expected to participate in the next round of funding. 

Source: Startup Central

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