Mumbai-based cleantech startup ReCircle has raised an undisclosed amount of investment in a bridge funding round co-led by Mumbai Angels, Venture Catalysts, and several high-net-worth individuals (HNIs). This funding round follows a previous pre-Series A investment from notable investors including Flipkart Ventures, 3i Partners, and Acumen Fund Inc.

Founded in 2016 by Nainani and Gurashish Singh Sahni, ReCircle is tackling India’s waste management issues by diverting waste from landfills and oceans back into the economy. The startup is focused on advancing ethical circularity and plans to integrate further into the plastic waste supply chain. This strategic move will enable ReCircle to supply high-quality, traceable recycled plastic content for companies utilizing plastic packaging, helping the startup target a revenue of Rs 100 crore for the fiscal year 2025-26.

The newly acquired capital will be used for diversification, expansion, and launching a new recycling unit in the coming months. Nainani highlighted the company’s approach, stating, “We are leveraging our pan-India network of partners, built over the last eight years, to forward integrate into the plastic waste supply chain. This will empower us to provide traceability from the source of collection to the final product packaging, enabling businesses to incorporate ethically sourced, traceable materials in their packaging.”

ReCircle operates an advanced Material Recovery Facility in Dahisar, Mumbai, where it processes materials including plastic, paper, cardboard, metal, glass, e-waste, and textile waste. The startup has successfully diverted over 169,000 metric tons of waste—equivalent to the weight of 28,166 elephants—from landfills and water bodies across 270 cities and towns in India. This achievement has been supported by a network of 45+ processing partners and 400 collection partners.

The startup has also introduced several flagship initiatives aimed at promoting sustainable waste management. These include ClimaOne, a tech-enabled platform offering unified, transparent waste management solutions, and programs like Plastic EPR Service, Plastic Neutral Programs, and Project Extra Life. ClimaOne simplifies reporting and compliance, provides real-time tracking, and uses data analytics to enhance operational efficiency in waste management.

As ReCircle continues to advance its mission of ethical waste management, this latest round of funding positions it well for further growth and innovation in the cleantech sector.