Circularity and Sustainability in Action: The Recykal Way
In 2015, Mr. Abhay Deshpande found himself at cross-roads after selling his second start-up Martjack, software- as –a service (SaaS) platform that facilitated the transition of brick and mortar retailors to the online interface. Instead of choosing a life of leisure and financial comfort, he ventured on journey into what he called “kachre ka kaam,” which translated the business of waste. His un-conventional decisions lead to the creation of Recykal (Rapidue Technologies), a trailblazing venture that revolutionized waste management in India.
Leveraging the force of technology- Recykal, founded by the seasoned entrepreneur Abhay Deshpande executed a transformation in India’s waste management sector. Previously fraught with numerous intermediaries and a lack of cohesion, the start-up had pioneered a ground breaking shift in the traditional waste-recycling industry by establishing a streamlined marketplace for scrap trading on a digital platform.
The company’s potential had attracted the attention and support of esteemed institutional investors like Morgan Stanley, Pidilite, and Circulate Capital based in Singapore, who pledged funding to aid Recykal’s growth. Abhay Deshpande had exhibited staunch determination, in making decisions that had driven the growth of Recykal, his brainchild. His leadership and vision had steered the company through formidable obstacles, strengthening the status as a revolutionary force in the sphere of sustainable waste management. Yet, in a country populated and vast as India challenges persisted.