Green Tech: India Accelerator Invests in Recycle.Green to Help Cities Go More Sustainable Smart and Zero Waste
Ahmedabad-based green tech startup Recycle.Green has recently secured seed funding from India Accelerator, an Angel Investor Network, well known for investing in promising startups. The startup was bootstrapped by its founders for more than three years and incubated by India Accelerator in the Summer 2020 cohort.
The startup will be launched in Ahmedabad with #MissionZeroWasteAmdavad. It aims to utilize the capital in developing a robust digital marketplace, including the mobile app and web platform. To help cities go more sustainable, smart, and zero waste, the startup works on an innovative approach of helping the consumers get greener recycled product options on their smartphone. Further, consumers can divert their product consumption to sustainable zero waste products and exchange them against segregated waste through its state-of-the-art app.
Mona Singh, Co-founder of India Accelerator, said, “Poor management of waste negatively impacts our planet. As an eco-conscious Accelerator, we are focused on helping innovative startups that work in the direction of changing consumer behaviour for a safer environment. We have found immense potential in the idea of Recycle.Green to leverage technology for both the corporates and the consumers. They enable enterprises to become environmentally responsible through their waste and recycling program and help the consumers as well in understanding how to buy and recycle the used products.”
A Next-Gen Circular Economy Tech Platform
Recycle.Green creates a next-generation circular economy tech platform to complete an ecosystem by aggregating all eco-friendly green product brands under one roof. Customers can simply buy these products and exchange them against waste.
Once the lifecycle of the product is over, they can give it back including the packaging and get attractive cashback for their next purchase. This works systematically, as the company integrates waste collectors, recyclers, artisans, recycled product sellers and consumers on the platform.
It fixes the three pillars of social, environmental, and economic growth in the country. With more consumers joining this circular economy, the money will automatically rotate in the cycle of waste to products and then again getting products back to recycle. This will result in cleanliness, less pollution, and less threat to the living habitat of animals, birds, and the ocean.
Environmental Saving Value
Recycle.Green has also created a new patented terminology called ESV™ – Environmental Saving Value™ to measure the direct impact on the ground for consumers and get educated about the environmental footprint of the product while buying. Furthermore, they have also created a reward and cashback platform linked to ESV™ that the company plans to push to United Nations for adopting as an international standard and make it compulsory to put it with any product like BEE start label / FSSAI label, etc. Additionally, the company has also patented PayByWaste™ where consumers can easily buy products and exchange with the waste they have.
Recycle.Green will use highly influential video content for consumer awareness. It will also deliver electronic recycling certificates along with a drive to plant a tree in the name of a customer for the first order on the app.
Incubated in 2020 by IA, Recycle.Green has gained traction with prominent brands such as DHL, Doodlage, Okhai, Pure-Cups, AU Small Finance Bank, The Leela, Satyam Developers, Rajyash Infracon, etc.
About India Accelerator
India Accelerator is a seed-stage accelerator program that helps startups grow. It’s a structured program that can bring the building blocks for a startup under one roof with much needed mentorship, networking, technology, peripheral services (like legal, financial, etc.) and last but not the least, the capital. It is the only GAN partnered, mentorship-driven, program in India.