The capital infusion also provided a partial exit to an Aavishkaar Capital fund that had invested in Nepra back in 2013.
Nepra processes over 500 tonnes of dry waste every day across Ahmedabad, Indore and Pune and works with 1,700 waste pickers and collectors. The company said it had positively impacted the lives of 5,000 people at the very bottom of the waste management industry over the last eight years.
“We aim to utilize this Series C funding to further expand our operations nationally and strengthen our capacity to cater to the growing needs of cities for dry waste management solutions,” said cofounder and CEO Sandeep Patel.
“Our ability to work closely with municipalities to organize dry waste collection, improve revenues for the informal sector, and ensure quality feedstock for recyclers, has seen our systems become indispensable and improve efficiency along the entire value chain,” he added.
According to Nepra, India generates 62 million tonnes of dry waste annually, of which as much as 90% is actually collected. However, of this, 80% is put into open landfills, harming the environment.
“At a time when communities need economic opportunities more than ever, Nepra is poised to scale its unique model of turning plastic pollution from a scourge into a resource for job creation and a thriving circular economy,” said Rob Kaplan, founder and CEO at Circulate Capital, which is dedicated to financing companies that prevent plastic from ending up in the ocean.
Nepra has a zero waste to landfill model in which it works with municipalities, informal waste pickers, recyclers and even brands.