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Recykal

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Recykal
Company typePrivate
IndustryWaste management, Recycling
Founded2016
FounderAbhay Deshpande
Number of locations
4 (Hyderabad, Mumbai, Pune, Bangalore)
Websitewww.recykal.com

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

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In 2017, Recykal launched its marketplace platform to connect waste collection centers with recyclers. By 2018, the platform enabled the recycling of over 30,000 metric tons (33,000 short tons) 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 200,000 metric tons (220,000 short tons) 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 1 million metric tons (1.1 million short tons) 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 100,000 metric tons (110,000 short tons) of metal, and 90,000 metric tons (99,000 short tons) 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

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Launched in December 2023, the Samudra Manthan initiative aimed at reducing plastic pollution in oceans. This initiative collects plastic waste within a 10-kilometre (6.2 mi) radius of the coastline and sends it for recycling. As of 2024, Samudra Manthan has collected 70,000 metric tons (77,000 short tons) of plastic from 207 districts in 19 states.[22][12][23]

References

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  1. ^ "Recykal raises ₹110 cr in funding". The Times of India. 12 April 2024. ISSN 0971-8257. Archived from the original on 7 August 2024. Retrieved 20 September 2024.
  2. ^ a b Sharma, Richa; Prasad, Shishir. "Finding riches in rags: A Hyderabad startup is digitising kabadiwallas. Coca-Cola et al. swear by it". The Economic Times. ISSN 0013-0389. Archived from the original on 7 August 2024. Retrieved 20 September 2024.
  3. ^ Khan, Shariq (9 March 2020). "Recykal: Making money from India's huge waste problem". The Economic Times. ISSN 0013-0389. Archived from the original on 7 August 2024. Retrieved 20 September 2024.
  4. ^ "Digital Platform Recykal: Tapping Opportunities in Waste Management". The Case Centre. Retrieved 20 September 2024.
  5. ^ "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". CNBCTV18. 11 January 2022. Retrieved 20 September 2024.
  6. ^ Nokia 2.2: रीसाइकल करना. www.hmd.com. Retrieved 20 September 2024.
  7. ^ Bhadra, Utsav; Mishra, Prajna Paramita (1 December 2021). "Extended Producer Responsibility in India: Evidence from Recykal, Hyderabad". Journal of Urban Management. 10 (4): 430–439. doi:10.1016/j.jum.2021.07.003. hdl:10419/271442. ISSN 2226-5856.
  8. ^ "Recykal Aims To Build Self-sustaining Circular Economy In India". BW Disrupt. Archived from the original on 20 September 2024. Retrieved 20 September 2024.
  9. ^ जानिए पर्यावरण के लिए क्यों जरूरी है बैटरी रीसाइकल. CarDekho (in Hindi). Retrieved 20 September 2024.
  10. ^ "'Digital Deposit Refund System' aimed to reduce plastic littering along Kedarnath trek gets Digital India Award". Government. Economic Times. Retrieved 20 September 2024.
  11. ^ Goyal, Raghav (7 April 2023). "Swachh Kedarnath: Will this IAS officer's target to eliminate 100 tons of trash come true?". Indian Masterminds. Retrieved 20 September 2024.
  12. ^ a b "This App Fights Ocean Plastic Pollution and Helps Lift Refuse Collectors Out of Poverty". www.triplepundit.com. Archived from the original on 7 August 2024. Retrieved 20 September 2024.
  13. ^ "Sustainability Award Archives". Tech4Good Awards. Retrieved 20 September 2024.
  14. ^ "Recykal on World Economic Forum Tech Pioneer list". The Hindu. 10 May 2022. ISSN 0971-751X. Retrieved 20 September 2024.
  15. ^ "Recykal". Fortune. Archived from the original on 7 August 2024. Retrieved 20 September 2024.
  16. ^ "CircularNet: How Recykal built Asia's largest circular economy marketplace using Google AI". Sustainability. Archived from the original on 17 September 2024. Retrieved 20 September 2024.
  17. ^ अपने रीसाइक्लिंग के सामानों को खुला ही बिन में डालें किसी प्लास्टिक की थैली में भरकर नहीं. Sustainability Victoria (in Hindi). Retrieved 20 September 2024.
  18. ^ "How Recykal Is Cleaning Up The Mess". Forbes India. Retrieved 20 September 2024.
  19. ^ Kilby, Nathalie (15 March 2023). "FT ranking: High-Growth Companies Asia-Pacific 2023". www.ft.com. Retrieved 20 September 2024.
  20. ^ Mukherjee, Vasudha (22 March 2024). "71 Indian companies on FT's Asia Pacific top 500 high-growth list". Archived from the original on 20 September 2024. Retrieved 20 September 2024.
  21. ^ "India participates in Indo-Pacific Economic Framework for Prosperity Clean Economy Investor Forum". Government. Economic Times. Archived from the original on 20 September 2024. Retrieved 20 September 2024.
  22. ^ "Recykal Aims To Build Self-sustaining Circular Economy In India". BW Disrupt. Archived from the original on 20 September 2024. Retrieved 20 September 2024.
  23. ^ "Proper Infra, Regulatory Support Can Engage More Players In Recycling Initiatives: Recykal Co-Founder". BW Disrupt. Archived from the original on 20 September 2024. Retrieved 20 September 2024.
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