Company Market Research Report: ReCircle

Company Overview

Name:

ReCircle

Mission:

To accelerate the world’s transition to a circular economy by transforming waste into valuable resources and driving environmental, social, and economic value through innovation.

Founded:

ReCircle was founded in 2016 during the Google Startup Weekend in Mumbai.

Founders:

• Rahul Nainani

• Gurashish Singh Sahni

Key People:

• Rahul Nainani (Co-founder & CEO)

• Gurashish Sahni (Co-founder & COO)

• Girish Agarwal (Mentor)

• Nikki Gupta (Mentor)

• Rohit Lalwani (Mentor)

• Nitin Jain (Mentor)

Headquarters:

Mumbai, India

Number of Employees:

No specific data on total number of employees provided. Notable team members listed include:

• Finance, supply chain, management, marketing managers, and executive staff.

Revenue:

In FY23, ReCircle reported a profit of INR 2.45 crore.

Company Recognition:

ReCircle is known for its leadership in waste transformation, creating environmental, social, and economic value. It is involved in sustainability initiatives and has partnered with several global brands for waste recovery solutions.

Products

Product Offerings:

1. Plastic Credits:

• This service enables companies to offset their plastic footprint by purchasing credits and supports their attainment of sustainability goals through Extended Producer Responsibility (EPR) compliance.

2. ClimaOne:

• A tech-enabled platform designed to transform the informal waste supply chain, ensuring transparency and traceability in resource value chains.

3. Project Extra Life:

• Focuses on extending the life of textiles and addressing waste through circular, traceable solutions.

Key Features:

• Use of technology to formalize waste collection and recycling processes.

• Extensive network of waste collectors and processors.

• Partnerships with global enterprises to improve sustainability efforts.

Recent Developments

Recent Launches and Features:

• Project Extra Life was launched to manage textile waste with a circular approach.

• Expansion Plans: ReCircle plans to include textile, glass, and paper in their waste supply chains.

Partnerships & Achievements:

• ReCircle has partnered with global brands such as Hindustan Unilever, Coca Cola, and Nestlé for waste recovery initiatives.

• The company secured a pre-Series A funding round from Flipkart Ventures, 3i Partners, and Acumen Fund.

• ReCircle has achieved a 290% increase in waste recovery in FY 2022-23.

Certifications and Awards:

• ReCircle received the Ocean Bound Plastic (OBP) certification, ensuring standards in the collection and recycling supply chain.

• Recognized with various awards such as the BW Social Impact Leader in Recycling (2022) and Best Social Impact Startup (2022).

Recent News Highlights:

• ReCircle plans to expand by launching a recycling unit and aims for a revenue target of Rs 100 crore in FY 2025-26 with new funding.

• They focus on building a traceable supply chain for plastic scrap and have diverted over 169,000 MT of waste from landfills.

Strategic Plans:

• Increase capacity for waste collection and processing.

• Expand into new material segments such as glass and textile recycling.

• Develop further technology for end-to-end traceability and more efficient recycling processes.

No additional information on specific revenue data, number of employees, and complete financial figures were available.