Clean-tech platform PadCare raises Rs 5 Cr from Social Alpha, others
Waste processing and recycling company PadCare has raised INR 5 crore ($683,000) in seed funding from investors including Social Alpha, Lavni Ventures, 3i Partners, Rainmatter, and Spectrum Impact.
The Pune-based start-up plans to use the funding to expand its operations to other cities over the next two years and establish decentralized material recovery centers.
PadCare, which was founded in 2018 by Ajinkya Dhariya, operates in the menstrual hygiene sector and offers sustainable options for women without requiring any changes to their habits. With a team of 45 employees, the company currently operates in six major cities in India and works with corporate clients such as Capgemini, Aditya Birla Group, and Procter & Gamble, among others.
Dhariya says, “Our special sanitary pad disposal bins and vending machines are serving one million menstruators in the country. We have set up two sanitary waste material recovery centres now and aim to commission six more by FY23.”
“Padcare Labs is addressing forward and backward linkages related to menstrual waste management and enabling a circular economy. Their proprietary technology to recycle used pads is an innovation that can disrupt the market and have a social and environmental impact in the coming years,” said Smita Rakesh, vice president and partner, Social Alpha.
Follow Startup Story
Related Posts
