Cleantech startup ScrapUncle has raised INR 22 Cr (about $2.4 Mn) in its pre-Series A funding round co-led by Orios Venture Partners and Acumen Fund. The round also saw participation from Upaya Social Ventures, Venture Catalysts, We Founder Circle, Soonicorn Ventures, and angel investor Bharat Jaisinghani. The Delhi NCR-based startup, which enables doorstep pickup of recyclable materials, plans to use the fresh fund for expanding its presence in the capital and “lay the foundation” for making its app available in other metro cities. The capital will also fund ScrapUncle’s capital expenditure plans, mainly investments in fulfillment infrastructure and laying the groundwork for a future in-house e-waste recycling facility, while also aiding workforce and technology expansion. Founded in 2019 by Mukul Chhabra, the startup facilitates doorstep collection of household recyclable materials through scrap collectors employed as gig workers, formalising the erstwhile fragmented and exploitative scrap collection industry. ScrapUncle focusses on recycling household items, including e-waste, paper, metals, cartons, plastics, textiles and end-of-life vehicles. The collected materials are segregated and processed at ScrapUncle’s warehouses, from where they are routed to authorised recyclers. The front end of ScrapUncle’s platform facilitates the service end-to-end, including booking, pricing and weighing, while the back end enables… Read MoreInc42 Media
