In a seed fundraising round headed by Social Alpha and included strategic investments from Lavni Ventures, 3i Partners, Rainmatter, and Spectrum Impact, the clean-tech firm PadCare Labs has raised Rs 5 crore.
According to a news release from PadCare, the money will be used to increase the operational regions in India, establish decentralised material recovery centres, invest in furthering its proprietary 5D recycling technology and commercialise new products.
By making period choices sustainable without altering user preferences, PadCare, a company founded in 2018 by Ajinkya Dhariya, hopes to revolutionise the menstrual hygiene industry in India. By creating recycled output from used pads, PadCare’s innovative recycling technology completes the menstrual hygiene economic cycle. The result from recycling is also utilised to create products made of paper and plastic. To increase the availability of menstruation products, the company also offers pad vending machines.
According to PadCare Labs, the company employs 45 people, is present in 6 major cities, and has a positive influence on the environment, trash employees, and women who menstruate. Corporate juggernauts in India including Mahindra, P&G, Capgemini, Aditya Birla Group, Symbiosis International University, and 250 more organisations have embraced the firm’s revolutionary business approach.
According to Social Alpha, it has made over 40 initial investments and has helped more than 150 entrepreneurs.