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In a major push to tackle India’s mounting plastic waste crisis, Recove, a tech-driven plastics recycling startup, has raised Rs 5.3 crore from Momentum Capital to transform the
In a major push to tackle India’s mounting plastic waste crisis, Recove, a tech-driven plastics recycling startup, has raised Rs 5.3 crore from Momentum Capital to transform the country’s recycling supply chain. The startup, founded in 2024 by Viral Chhajer, Nirja Bhatt, and Sharan Subaiah, is aiming to build India’s first tech-enabled B2B marketplace for plastic recyclables, promising high-quality, reliable inputs for recyclers and a sustainable, circular economy.
The funding will be deployed to scale Recove’s marketplace across India, develop critical pre-processing infrastructure, and improve the quality and reliability of plastic inputs for recyclers. Experts say this is a pivotal step in solving one of India’s most pressing environmental challenges, while also unlocking economic value from otherwise wasted materials.
Recove is positioning itself as more than just another recycling startup. The company combines technology, supply chain management, and pre-processing infrastructure to provide recyclers with consistent, high-quality materials. By creating a transparent and efficient marketplace, Recove aims to address two of the most critical bottlenecks in the plastics recycling ecosystem:
The startup’s approach has the potential to significantly boost recycling rates, reduce the environmental impact of plastic waste, and unlock billions in untapped material value within India’s plastics market.
Viral Chhajer, CEO & Co-Founder of Recove, emphasized the broader mission behind the funding: “Partnering with Momentum Capital marks a pivotal moment for Recove as we work to transform India’s recycling industry and accelerate India’s transition to a fully circular economy. This investment will accelerate our expansion and enable us to invest in key pre-processing infrastructure across the recycling supply chain, starting with plastics. Our mission is not only to raise recycling rates, but to unlock billions in lost material value, delivering measurable economic gains for our customers and meaningful environmental impact for the country.”
Chhajer and his co-founders bring a unique mix of cleantech experience, operational expertise, and strategic insight, positioning Recove to scale rapidly and meaningfully impact the recycling sector.
The Rs 5.3 crore investment from Momentum Capital reflects growing confidence in India’s waste-to-value economy. Ankur Shrivastava, Managing Partner at Momentum Capital, said, “We see a massive, underfunded opportunity in waste recycling, and Recove is at the forefront of this crucial shift towards establishing a circular economy. India’s rapidly growing municipal solid waste problem, combined with a strong push for recycling mandates, creates the perfect landscape for Recove. We are incredibly impressed by their sound approach and the strength of their founding team, which brings a wealth of strategic, financial, and operational expertise in the cleantech space.”
Momentum Capital’s backing provides not just capital but strategic guidance, helping Recove expand its footprint, improve operational efficiency, and attract additional partners across India’s recycling ecosystem.
India produces over 3.5 million tonnes of plastic waste annually, with only a fraction being effectively recycled. Contamination, inconsistent supply, and a fragmented marketplace have long been hurdles for the recycling industry. By providing pre-processed, high-quality plastic inputs through a tech-enabled marketplace, Recove addresses these systemic issues head-on.
The potential benefits are significant:
Recove plans to leverage the funding to expand its marketplace operations nationwide, focusing on metro and tier-2 cities with high recycling potential. By creating an end-to-end solution for recyclers, the startup hopes to streamline procurement, ensure quality control, and provide predictive analytics to optimize the supply chain.
The company’s model also opens doors for partnerships with municipal corporations, private waste collectors, and large-scale recyclers, creating an ecosystem where every stakeholder benefits from improved efficiency and transparency.
With the Rs 5.3 crore infusion, Recove is poised to accelerate infrastructure development, including pre-processing plants and logistics networks, ensuring that recyclers across India receive consistent, high-quality inputs. The startup is also exploring AI-driven supply chain solutions to predict demand, reduce wastage, and improve operational efficiency.
In addition, Recove plans to expand its technology platform, offering tools for tracking, reporting, and quality assessment, helping recyclers maximize throughput and revenue. This tech-driven approach could serve as a model for circular economy initiatives across India, bridging the gap between environmental responsibility and economic viability.
Recove’s recent funding marks a major milestone in India’s push toward a circular economy. With Binny Bansal-backed Momentum Capital supporting the startup, Recove is well-positioned to reshape the plastics recycling ecosystem, improving supply chain efficiency, unlocking lost value, and creating measurable environmental impact.
As India grapples with growing plastic waste and stricter recycling mandates, startups like Recove are proving that innovation, technology, and strategic investment can turn a massive environmental challenge into a profitable, sustainable opportunity.
For investors, policymakers, and environmental advocates, Recove represents a promising example of how tech-driven startups can accelerate the transition to a circular economy, creating lasting value for both people and the planet.
Hi guys, I’m Maria a full-time Blogger & Writer. It is a long-established fact that a reader will be distracted by the content.
Hi guys, I’m Maria a full-time Blogger & Writer. It is a long-established fact that a reader will be distracted by the content.
