Karo Sambhav, a recycling and circular economy startup, has raised Rs 56 crore ($6 million) in a pre-Series A fundraising round headed by Rainmatter by Zerodha.
According to a press release from Karo Sambhav, the money raised will be utilized to develop recycling infrastructure for the recovery of valuable, precious, and essential materials.
Karo Sambhav was established in 2017 by Pranshu Singhal and works with batteries, glass, e-waste, and other end-of-life material streams. To help formalize India’s informal recycling ecosystem, the firm collaborates with groups including the International Labour Organization, IFC, and the German Agency for International Cooperation.
The company claims that industries like artificial intelligence, quantum computing, advanced electronics, and renewable energy face a strategic problem due to India’s restricted ability to recover essential resources like indium, tin, and rare earth elements. In light of changing global supply chains and geopolitical uncertainty, strengthening domestic recycling capabilities is becoming more and more crucial.
The Gurugram-based business claims to run two recycling facilities, channel more than 150,000 metric tons of waste for recycling, and set up networks for collection in more than 50 locations. Additionally, it has collaborated with more than 50 companies to promote their sustainability and recycled-content goals, including Apple, Dell Technologies, Cisco, and Canon.
According to a market report, India produces an estimated 4.1 million metric tonnes of e-waste each year, making it the third-largest producer in the world. By 2030, it is anticipated that 82 million metric tons of e-waste will be produced annually worldwide.
Due to its high concentration of valuable metals and components, Karo Sambhav intends to give e-waste recycling first priority while building capacity for nearby waste streams. The National Critical Minerals Mission (NCMM) of the Ministry of Mines has granted its proposed facility eligibility status under the Incentive Scheme for Promotion of Critical Mineral Recycling.
Prominent companies in the industry include E-Parisara and Rubamin, BATX and LEO in battery recycling, and Rocklink India and Namo in electronic waste recycling.
