Clean-tech startup Wastelink raises $3 Mn Series A funding from Avaana Capital

Wastelink, a business-to-business (B2B) food upcycling startup, has raised Rs 27 crore, or about $3 million, in a Series A funding round headed by Avaana Capital, an early-stage investment firm.

Indigram Labs and other investors had previously contributed $2.3 million to the Delhi-based company. According to a press release from Wastelink, the new funding will be utilized to improve its tech stack and enter new markets.

Wastelink, which was established in 2018 by Saket Dave and Krishnan Kasturirangan, turns leftover and wasted food from producers and merchants into wholesome ingredients for animal feed. It provides animal feed companies with ECOMIX, its proprietary feed product, as a raw material.

Additionally, the startup has created an AI-powered reverse supply chain tracking system that informs animal feed companies about the processing of raw materials and gives food companies insight into how their waste and packaging are being used.

With over 35,000 tonnes of FMCG surplus upcycled into feed ingredients, Wastelink claims to serve over 5,000 pincodes throughout India, serving approximately 38,500 animals annually.

By 2034, the global upcycled food market is expected to grow to a value of $119.8 billion, according to market research.

Wastelink faces competition from companies like Krimanshi and Sea6 Energy.