HYDERABAD: Hyderabad-based Rapidue Technologies (Recykal) is a digital solutions waste-commerce company that connects all stakeholders across the value chain to solve the challenges faced by the industry. Underpinned by strong entrepreneurial experience in developing digital businesses, it recognised that some of the most pressing challenges faced by the waste management and recycling industry in India could be solved through digital technology.
These challenges include mismatch between buyers and sellers of plastic waste, as well as a lack of transparency. Circulate Capital, a Singapore-based investment management company said that the Circulate Capital’s Ocean Fund (CCOF) has made a strategic investment into Recykal.
The company is focused on preventing plastic from leaking into the ocean and advancing the circular economy. CCOF is an investment fund dedicated to combat ocean plastic in South and Southeast Asia.
The organisation’s integrated approach connects waste generators with waste processors and recyclers, and brand owners through an ecosystem of cloud-based solutions that facilitate transparent and traceable material flows and transactions.
The company enables more efficient and effective dry waste management through its digital marketplace for waste, Smart Centre Solutions and Extended Producer Responsibility (EPR) management tool. Abhay Deshpande, founder, said, “We need an ecosystem to track and trace material flows and transactions brings unprecedented value to all key players along the value chain. By connecting stakeholders, we are also driving efficiency to promote higher throughputs in recycling.”