Saraplast, India’s leading portable sanitation services company, receives investment from a fund of responsAbility.
Saraplast is India’s leading provider of portable toilet sanitation services that cater to the underserved segment of the society. It services portable toilets across major cities in the country through its brand 3S.
Over half of India’s population do not have access to sanitation facilities. Most of these people reside in urban slums or rural areas. In addition to health issues, poor sanitary measures set India back by an equivalent of 6.4% of its GDP every year, as estimated by a recent study by the Water and Sanitation Program of the World Bank.
The investment will help the company increase its footprint, thereby helping improve living standards of the underserved. The no human touch approach employed in the cleaning and servicing of the toilets is also helping reduce the stigma for this industry. Earlier, in 2009, Aavishkaar Venture Fund invested in Saraplast.
responsAbility is one of the world’s leading independent asset managers specializing in the development-related sectors of emerging economies such as finance, agriculture, health, education and energy. Founded in 2003, responsAbility currently has assets under management of USD 1.4 billion, which are invested in over 400 companies in around 80 countries. For further information, visit www.responsAbility.com.
Ourea Capital Advisors were exclusive advisors to the company for the transaction. Ourea is a leading investment bank, with operations in India and Europe. It has worked across manufacturing and services sectors, assisting companies raise growth capital and other financial services.
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