Daijiworld Media Network - Hyderabad
Hyderabad, Nov 13: Cricket legend Sachin Tendulkar has invested in Hyderabad-based circular economy company Recykal, acquiring an undisclosed minority stake in the waste management technology firm as it seeks to promote responsible waste management practices and strengthen India's circular economy.
Tendulkar's investment forms part of Recykal's recently concluded $23 million bridge funding round, which comprised primary and secondary capital from existing investors and select new family offices.
Of the total amount, $9 million was raised from new investors, including biopharmaceutical company Biological E Ltd, the family office of its managing director Mahima Datla, and the family offices of Dr Nageshwar Reddy and PVS Raju of AIG Hospitals.
The remaining $14 million came from existing investors, including 360 ONE, Trinity Combinator, Strat Ventures and the family office of Pidilite Industries vice-chairperson Ajay Parekh.
According to the company, the funds will be deployed to strengthen its technology platform and open marketplace, expand its Deposit Return System and support its international expansion plans.
Recykal said Tendulkar's association is intended to encourage citizens to look at waste as a recoverable resource rather than something to be discarded. The company aims to make returning waste, recycling responsibly and participating in circular economy systems a regular part of everyday life for Indians.
Tendulkar said the company's approach of using technology to address an everyday challenge was what attracted him to Recykal. Drawing a parallel with his own experience, he emphasised that lasting success depended on discipline and consistent effort, adding that the same principles were essential to building a cleaner India.
Abhay Deshpande, chief executive and co-founder of Recykal, said the circular economy was fundamentally a technology challenge. He explained that Deposit Return Systems bring together technology, logistics and behavioural change to improve the recovery of packaging waste.
Describing Tendulkar's association as particularly meaningful, Deshpande said the cricket legend had the ability to bring people together around a common purpose, making his involvement valuable to the company's mission.
Founded in 2015, Recykal operates digital platforms, circular commerce systems and artificial intelligence-enabled hardware, including reverse vending machines manufactured in India.
The company says it has channelised more than three million tonnes of waste through its network, while working with 650 brands and 5,000 partners.
With the latest investment and Tendulkar's association, Recykal aims to further expand its technology-driven waste recovery ecosystem and encourage greater public participation in India's transition towards a circular economy.