Recykal raises $22mn from Morgan Stanley

Hyderabad-based waste management firm Recykal has raised a funding of $22 million from Morgan Stanley India Infrastructure. This is the second institutional fundraise by the company after a $4 million round in 2020. Existing investors Circulate Capital, Vellayan Subbiah, and Arun Venkatachalam from the Murugappa Family also participated in this round

“So far we have channelled more than 200,000 MT of plastic waste, connecting 100+ brands, partnered with 80+ government agencies and more, with a team of 180+ employees,” said Recykal on its official LinkedIn page.

Recykal plans to use these funds for strengthening its technology, expanding its B2B marketplace pan-India and building hyper-local waste processing infrastructure. This will enable the circular economy and help corporate India in achieving its sustainability goals, the company said. 

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