Recove is a B2B startup working on digitizing and modernizing the plastics recycling supply chain. Recove raised ₹5.3 crore in a pre-seed funding round. Momentum Capital was the lead investor, and the company had major contributions from several well-known industry veterans and angel investors. Among the top names in this list of individual investors are Ganesh Natarajan, Ashish Goel, Chaitanya Kejriwal, and Shruti Deorah. The effective financing round represents a good sign of investor trust in the innovation that Recove has in tackling the problems in the recycling industry. 

Strategic and tech-enabled solution

This pre-seed funding will be used wisely to power the ambitious growth plans of Recove. The firm will invest the money to expand its marketplace in India and consequently increase its presence and influence in the plastics recycling ecosystem.

Another major aspect of this growth is the setup of pre-processing hubs, which play a crucial role in enhancing the quality and uniformity of recycled products. The finances will also be employed in expanding the number of partners that Recove has in terms of recycling in order to enhance its status as an important supply chain intermediary.

Viral Chhajer, Nirja Bhatt, and Sharan Subaiah founded Recove in 2024. Recove is a plastic recycling B2B marketplace that is operated using technology. The main purpose of the platform is to serve as a significant bridge between sellers of plastic waste and recyclers. Recove makes the process more efficient and transparent by using technology-driven supply channels.

The new business model that the company has developed integrates the digital procurement platform with the physical pre-processing facilities owned by the company. This mixed solution is aimed at giving the recyclers a stable and dependable source of quality raw material that is in high demand in the industry. It ensures that the generators of plastic waste gain more returns on their trash, hence motivating more recycling.

Impact in its first year of operation

Recove has already demonstrated that it has a huge impact and traction in the market, even in its first year of operation. The company claims to have been able to streamline the procurement process of more than 30 recycling firms it has in the country. This success indicates how effective its model is and how it can serve its clients within a short period of time.

Recove is helping to make a more sustainable and circular economy by constructing a more organized and efficient supply chain of recyclables, the plastic ones. This new model, already demonstrating good improvement prospects, makes the company one of the participants in the recycling supply chain modernization and a more sustainable future.

Conclusion

The ₹5.3 crore pre-seed funding round that Recove was successful with, led by Momentum Capital, is a breakthrough for the startup and the Indian plastics recycling sector. The capital will help the firm market its tech-enabled marketplace and provide a physical presence in the form of pre-processing hubs. Recove is eliminating a major pain point in the industry by integrating plastic waste suppliers and recyclers into a more efficient, tech-based supply chain.