Karo Sambhav Raises ₹56 Cr To Turn E-Waste Into Critical Raw Materials
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Cleantech startup Karo Sambhav has raised ₹56 Cr ($5.9 Mn) in its Pre-Series A funding round from Rainmatter to scale critical raw material recovery from end-of-life products.
The investment will enable the nine year old startup, which had been bootstrapped till now, to embark on its next phase of growth.
In this, the startup plans on scaling its high-quality recycling infrastructure for recovery of critical, precious and high-value materials.
The startup said it will initially focus on e-waste recycling due to the high concentration of valuable materials in discarded electronics, while also expanding into other waste streams over time.
Founded in 2017 by Pranshu Singhal, Karo Sambhav works with companies, enabling them to collect & recycle the waste related to their products. It designs and implements extended producer responsibility (EPR) programmes for e-waste, battery waste, plastic waste, and glass waste. It claims to work with over 30 global tech and FMCG brands including Apple, Dell, Cisco, Pepsico, HP, among others.
The Delhi NCR-based startup currently operates two recycling facilities and has collection channels in more than 50 cities. It claims to have channelised over 1.50 Lakh metric tonnes of waste for responsible recycling.
The startup said its planned recycling infrastructure project has received eligibility status under the incentive scheme for promotion of critical mineral recycling under the National Critical Minerals Mission (NCMM) of the Ministry of Mines.
“India’s manufacturing future will require reliable access to critical, precious and high-value materials. Many of these materials are already present in products that have reached the end of life. Karo Sambhav has spent the last nine years building the operating base to collect, recycle and trace these material streams responsibly,” CEO Singhal said
Karo Sambhav competes with the likes of Attero Recycling, Recykal, Banyan Nation and ReCircle, among others.
The funding comes at a time when concerns around electronic waste and access to critical raw materials are growing. According to Karo Sambhav, India generates an estimated 4.1 Mn metric tonnes of e-waste annually, making it the world’s third-largest e-waste generator, while global e-waste volumes are expected to reach 82 Mn tonnes by 2030.
As India looks to secure supplies of critical materials needed for sectors such as electronics, EVs, defence and clean energy, e-waste is increasingly being viewed as a valuable source of resource recovery.
Against this backdrop, India’s waste recycling services market, valued at more than $3.3 Bn, is projected to grow at a CAGR of nearly 9.8%, driven by stricter extended producer responsibility (EPR) mandates and rapid industrialisation.
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