Recykal Explained

Recykal
Type:Private
Industry:Waste management, Recycling
Founded:2016
Founder:Abhay Deshpande
Num Locations:4 (Hyderabad, Mumbai, Pune, Bangalore)

Recykal is a digital technology company based in Hyderabad, Telangana, India, specializing in waste management and recycling. It was founded in 2016 by Abhay Deshpande, Abhishek Deshpande, Ekta Narain, Vikram Prabakar, and Anirudha Jalan.[1] [2] [3]      

History

In 2017, Recykal launched its marketplace platform to connect waste collection centers with recyclers. By 2018, the platform enabled the recycling of over 30000MT of plastic waste across 25 states in India, preventing the waste from reaching landfills.[4] [5] [6]

In 2019, Recykal shifted towards a B2B model, providing services for brands to streamline their Extended Producer Responsibility (EPR) registration, compliance, and fulfillment processes. EPR mandates that producers are responsible for the entire lifecycle of their products, including disposal and recycling.[7] [8]  

By 2020, Recykal expanded its services to over 30 states and union territories in India, collecting and recycling over 200000MT of waste by 2021. The company was honored with the 3R Award for Excellence in Waste Management.[9] In 2022, the company received the Digital India Award for implementing India's first digital deposit refund system (DRS) in Uttarakhand.[10] [11] [12] Recykal was also recognized with Tech4Good Awards.[13]  

The company was recognized as a Tech Pioneer by the World Economic Forum in 2022[14] and was included in the Fortune Change the World 2023 list.[15] The Economic Times named Recykal India's No. 1 Growth Champion in 2023.[2] Google featured Recykal in a case study titled "CircularNet: How Recykal built Asia’s largest circular economy marketplace using Google AI" in 2023.[16]

By 2023, the company channelled over 1e6MT of waste and collaborated with over 620 brands, 675 recyclers, 12,000 businesses, and 5,000 service providers and aggregators.[17] Recykal prevented 12 billion plastic bottles, over 100000MT of metal, and 90000MT of paper and e-waste from reaching landfills.[18]

In 2024, Recykal was featured in the FT High-Growth Companies Asia-Pacific list and recognized as the Most Trusted Brand of 2024–25.[19] [20] It was named one of the Top 10 Climate Innovators by the Indo-Pacific Economic Framework for Prosperity.[21]

Samudra Manthan Initiative

Launched in December 2023, the Samudra Manthan initiative aimed at reducing plastic pollution in oceans. This initiative collects plastic waste within a 10km (10miles) radius of the coastline and sends it for recycling., Samudra Manthan has collected 70000MT of plastic from 207 districts in 19 states.[22] [12] [23]

References

  1. News: 2024-04-12 . Recykal raises ₹110 cr in funding . 2024-09-20 . The Times of India . 0971-8257 . 7 August 2024 . https://web.archive.org/web/20240807140737/https://timesofindia.indiatimes.com/city/hyderabad/recykal-raises-110-cr-in-funding/articleshow/109229337.cms . live .
  2. News: Sharma . Richa . Prasad . Shishir . Finding riches in rags: A Hyderabad startup is digitising kabadiwallas. Coca-Cola et al. swear by it . 2024-09-20 . The Economic Times . 0013-0389 . 7 August 2024 . https://web.archive.org/web/20240807135713/https://economictimes.indiatimes.com/prime/environment/finding-riches-in-rags-a-hyderabad-startup-is-digitising-kabadiwallas-coca-cola-et-al-swear-by-it/primearticleshow/104111657.cms?from=mdr . live .
  3. News: Khan . Shariq . 2020-03-09 . Recykal: Making money from India's huge waste problem . 2024-09-20 . The Economic Times . 0013-0389 . 7 August 2024 . https://web.archive.org/web/20240807135714/https://economictimes.indiatimes.com/small-biz/startups/features/recykal-making-money-from-indias-huge-waste-problem/articleshow/74546955.cms?from=mdr . live .
  4. Web site: Digital Platform Recykal: Tapping Opportunities in Waste Management . 2024-09-20 . The Case Centre . en.
  5. Web site: 2022-01-11 . Funding Rundown: Rupeek raises $34 mn From Lightbox, says report, Recykal bags $22 mn from Morgan Stanley, IppoPay gets $2.1 mn in seed round & OneDios raises $1.2 mn - CNBC TV18 . 2024-09-20 . CNBCTV18 . en.
  6. Web site: hi:Nokia 2.2: रीसाइकल करना . https://www.hmd.com/en_us/support/nokia-2-2-user-guide/recycle?locale=hi-IN . 2024-09-20 . www.hmd.com.
  7. Bhadra . Utsav . Mishra . Prajna Paramita . 2021-12-01 . Extended Producer Responsibility in India: Evidence from Recykal, Hyderabad . Journal of Urban Management . 10 . 4 . 430–439 . 10.1016/j.jum.2021.07.003 . 2226-5856. 10419/271442 . free .
  8. Web site: Recykal Aims To Build Self-sustaining Circular Economy In India . 2024-09-20 . BW Disrupt . en . 20 September 2024 . https://web.archive.org/web/20240920210156/https://bwdisrupt.com/article/recykal-aims-to-build-self-sustaining-circular-economy-in-india-506948 . live .
  9. Web site: hi:जानिए पर्यावरण के लिए क्यों जरूरी है बैटरी रीसाइकल . https://hindi.cardekho.com/india-car-news/3-reasons-why-recycling-an-evs-battery-is-important-for-global-electrification-30563.htm . 2024-09-20 . CarDekho . hi.
  10. Web site: . 'Digital Deposit Refund System' aimed to reduce plastic littering along Kedarnath trek gets Digital India Award . Government . 2024-09-20 . Economic Times . en.
  11. Web site: Indian Masterminds . Raghav . Goyal . April 7, 2023 . Swachh Kedarnath: Will this IAS officer's target to eliminate 100 tons of trash come true? . 2024-09-20 . en-GB.
  12. Web site: This App Fights Ocean Plastic Pollution and Helps Lift Refuse Collectors Out of Poverty . 2024-09-20 . www.triplepundit.com . 7 August 2024 . https://web.archive.org/web/20240807135710/https://www.triplepundit.com/story/2024/app-fights-ocean-plastic-pollution/792046 . live .
  13. Web site: Sustainability Award Archives . 2024-09-20 . Tech4Good Awards . en-GB.
  14. News: . 2022-05-10 . Recykal on World Economic Forum Tech Pioneer list . 2024-09-20 . The Hindu . en-IN . 0971-751X.
  15. Web site: Recykal . 2024-09-20 . Fortune . en . 7 August 2024 . https://web.archive.org/web/20240807135708/https://fortune.com/company/recykal/ . live .
  16. Web site: CircularNet: How Recykal built Asia's largest circular economy marketplace using Google AI . 2024-09-20 . Sustainability . en . 17 September 2024 . https://web.archive.org/web/20240917093702/https://sustainability.google/operating-sustainably/stories/circular-economy-marketplace/ . live .
  17. Web site: hi:अपने रीसाइक्लिंग के सामानों को खुला ही बिन में डालें किसी प्लास्टिक की थैली में भरकर नहीं . https://www.sustainability.vic.gov.au/circular-economy-and-recycling/at-home/small-acts-big-impact/small-acts-languages/hindi-small-acts/recycle-loose-hindi . 2024-09-20 . Sustainability Victoria . hi.
  18. Web site: How Recykal Is Cleaning Up The Mess . 2024-09-20 . Forbes India . en.
  19. Web site: Kilby . Nathalie . 2023-03-15 . FT ranking: High-Growth Companies Asia-Pacific 2023 . 2024-09-20 . www.ft.com . en-GB.
  20. News: Mukherjee . Vasudha . Mar 22, 2024 . 71 Indian companies on FT's Asia Pacific top 500 high-growth list . 20 September 2024 . 20 September 2024 . https://web.archive.org/web/20240920210154/https://www.business-standard.com/industry/news/71-indian-companies-on-ft-s-asia-pacific-top-500-high-growth-list-124032200395_1.html . live .
  21. Web site: . India participates in Indo-Pacific Economic Framework for Prosperity Clean Economy Investor Forum . Government . Economic Times . 2024-09-20 . en . 20 September 2024 . https://web.archive.org/web/20240920210159/https://government.economictimes.indiatimes.com/news/economy/india-participates-in-indo-pacific-economic-framework-for-prosperity-clean-economy-investor-forum/110769504 . live .
  22. Web site: Recykal Aims To Build Self-sustaining Circular Economy In India . 2024-09-20 . BW Disrupt . en . 20 September 2024 . https://web.archive.org/web/20240920210156/https://bwdisrupt.com/article/recykal-aims-to-build-self-sustaining-circular-economy-in-india-506948 . live .
  23. Web site: Proper Infra, Regulatory Support Can Engage More Players In Recycling Initiatives: Recykal Co-Founder . 2024-09-20 . BW Disrupt . en . 20 September 2024 . https://web.archive.org/web/20240920210209/https://bwdisrupt.com/article/proper-infra-regulatory-support-can-engage-more-players-in-recycling-initiatives-recykal-co-founder-506527 . live .

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