Introduction to ReCircle
In 2016, Rahul Nainani and Gurashish Singh attended the Google Startup Weekend in Mumbai. This event sparked the idea for ReCircle, a clean-tech startup focused on waste management solutions. Their goal was to create a traceable reverse supply chain for all types of waste, based on the principles of circular economy and circular solutions.
Key Achievements
ReCircle operates in over 270 cities and towns with 400 collection partners. They have partnered with major FMCG brands like Hindustan Unilever, Dabur, Coca Cola, Marico, Nestle, and Starbucks India to help offset their plastic footprint through plastic credits. Additionally, ReCircle collaborates with international organizations for capacity building and plastic waste recovery.
Financial Success & Future Plans
ReCircle’s revenue streams include plastic credits and partnerships for waste recovery projects. In FY23, they reported a profit of INR 2.45 crore, a significant increase from the previous year. Supported by investments from Flipkart Ventures, 3i Partners, and Acumen Fund Inc., ReCircle plans to expand its waste supply chains to include textiles, glass, and paper waste.
