What Recykal does

Recykal is a Hyderabad-based cleantech company, incorporated in 2015, that operates a digital marketplace and software platform connecting waste generators, aggregators, and certified recyclers across India's circular economy. Its product portfolio consists of three integrated offerings: a managed marketplace for trading secondary raw materials (plastics, metals, paper), an Extended Producer Responsibility (EPR) compliance platform that helps brands meet mandatory recycling obligations through verified chain-of-custody documentation, and digital deposit-refund systems (dDRS) paired with reverse vending machines (RVMs) for container recovery. Underlying these are proprietary AI capabilities including the CircularNet and Smartscan models for waste classification, which the company reports achieve over 90% detection accuracy and are deployed across the RVM and traceability stack.

The platform has built a digitally connected ecosystem spanning 620+ brands, 675+ certified recyclers, and 5,000+ aggregators across 25 Indian states, and reports facilitating the trading or collection of 12 billion plastic bottles since 2023, more than 100,000 metric tons of recyclable metal, and approximately 90,000 metric tons of recovered paper and electronic scrap. Notable deployments include AI-enabled bottle collection units at Tasmac liquor shops in Tamil Nadu and the first reverse vending machine under Goa's deposit return scheme at the INS Mandovi naval base, in coordination with the Breweries Association of India. Revenue is generated through three streams: marketplace commissions on secondary raw material transactions, platform fees for EPR compliance services, and operational/transaction fees from managing deposit-return schemes for government and brand partners.

The company is venture-backed, having raised approximately $81.7 million cumulatively across rounds that include a $22 million Morgan Stanley-led round in January 2022, a Series A in 2024 led by 360 ONE, and a $23 million bridge round in June 2026 with Pidilite Industries, Biological E Ltd, 360 ONE, Trinity Combine, Strat Ventures, and AIG Hospitals family offices. Early climate investor Circulate Capital fully exited in the bridge round at approximately 5x returns. Recykal reported FY26 gross revenue of Rs 1,498 crore, representing 53.2% year-over-year growth, while narrowing losses from 6% to 4% of revenue.

Name

Recykal

Legal name

Recykal

Website

https://recykal.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

251–500 employees

Short description

Recykal is a Hyderabad-based cleantech company operating a digital marketplace and software platform connecting waste generators, aggregators, and certified recyclers. It serves brands seeking Extended Producer Responsibility compliance, certified recyclers, and government bodies implementing deposit return systems across India.

Ownership category

akta.pro rank

Product category

Waste Management Software

NAICS

Recyclable Material Merchant Wholesalers (42393), Materials Recovery Facilities (562920), Waste Collection (56211), Waste Collection (5621)

SIC

Refuse Systems (4953)

akta.pro primary industry

Packaging Recovery & Closed-Loop Programs (Take-Back, Deposit-Return, EPR Support) (IMALAMAF)

akta.pro secondary industries

Secondary Materials Brokerage & Trading (Recovered Commodities) (BPALADAJ), Reusable Packaging & Refill Systems (Returnable Transport Items, Deposit/DRS Ops) (EUAIANAE), Certified Compliance & Reporting Services (R2/e-Stewards, Audit, ESG) (BPALAIAL)

Keywords

• Waste management platform
• Circular economy technology
• EPR compliance software
• Secondary materials marketplace
• Deposit return systems

Headquarters

HQ city

Hyderabad

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Operations, Personnel, Marketing or Sales, Supply Chain

Revenue model

1. Marketplace Commission: Transaction fees from the managed marketplace for secondary raw materials connecting brands, certified recyclers, and aggregators for trading waste and recyclable materials.
2. EPR Compliance Services: Platform fees from supporting brands in meeting Extended Producer Responsibility compliance requirements through the digital ecosystem.
3. Deposit Return System Operations: Transaction and operational fees from managing digital deposit-refund systems and reverse vending machines for government and brand partners.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Recykal operates a technology-enabled digital marketplace and software platform for India's waste management and circular economy. Its core offerings are a managed marketplace for trading secondary raw materials (plastics, metals, paper) between waste generators, aggregators, and certified recyclers; an Extended Producer Responsibility (EPR) compliance platform that helps brands meet mandatory recycling obligations through digital tracking and verified chain-of-custody; and digital deposit-refund systems (dDRS) including reverse vending machines deployed with state governments and brand partners.

Product overview

Recykal operates as a technology platform for waste management and circular economy, offering a unified ecosystem of interconnected products. The core portfolio consists of a managed marketplace for secondary raw materials (enabling trading of plastics, metals, paper between generators and recyclers), an Extended Producer Responsibility (EPR) compliance platform (supporting brands with digital tracking and verified recycling chain-of-custody), and digital deposit-refund systems including deposit-based dDRS and reverse vending machines. Supporting these are AI-powered modules including CircularNet and Smartscan for waste classification (90%+ accuracy), all integrated into a digitally connected ecosystem spanning 620+ brands, 675+ certified recyclers, and 5,000+ aggregators across 25 states.

Differentiator

Problem solved

Functional benefit

Products and services

• Managed Marketplace for Secondary Raw Materials A technology-enabled marketplace connecting waste generators, aggregators, and certified recyclers for trading secondary raw materials including plastics, metals, and paper. It serves brands, recyclers, and aggregators seeking formalized channels for recyclable material transactions.
• Extended Producer Responsibility (EPR) Platform A compliance support platform helping brands meet their Extended Producer Responsibility obligations through digital tracking, reporting, and verified recycling chain-of-custody. It targets consumer goods brands, manufacturers, and liquor companies subject to India's EPR mandates.
• Digital Deposit-Refund System (dDRS) with Reverse Vending Machines Digital systems enabling deposit return schemes including deposit-based deposit return systems (dDRS) and reverse vending machines (RVMs) for collecting and tracking returned containers. Deployed for state government bodies (e.g., Tamil Nadu TASMAD, Goa state authorities) and beverage industry partners.

Quantifiable outcome

• 12 billion plastic bottles facilitated through platform since 2023
• +5 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature5 records

Partnerships

Three partnerships are on record, tiered core and flagship.

• Tasmac (Tamil Nadu State Marketing Corporation)coreImplementation/ SI/ Consulting Partner · 12 June 2026Tasmac partnered with Recykal to install AI-enabled automated bottle collection units at liquor shops across Tamil Nadu, with each unit storing up to 3,000 bottles and processing refunds via UPI.
• INS Mandovi Naval Base (Goa)flagshipImplementation/ SI/ Consulting Partner · 6 June 2026Goa's first reverse vending machine under the deposit refund scheme was installed at INS Mandovi naval base in Verem, implemented by Recykal in partnership with the naval station's environment wing, targeting circular economy for beverage packaging.
• Breweries Association of IndiacoreStrategic or Co-development Partner · 23 February 2026The Breweries Association of India committed to working with Recykal for operational readiness under Goa's deposit refund scheme, with 82% of liquor volume supplied in Goa already registered under the scheme.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Saahas Zero Waste: India-based waste management services company offering EPR compliance, on-site segregation, and recycling solutions for corporates and institutions. Highly comparable to Recykal given shared focus on Indian EPR compliance and brand-side waste programs.
• Kabadiwalla Connect: India-focused digital waste marketplace connecting waste generators with recyclers and aggregators. Closest direct competitor to Recykal's managed marketplace model for secondary raw materials and informal-to-formal waste trading.
• Nepra Resource Management: Indian waste management startup providing collection, segregation, recycling, and EPR services to corporates and municipalities. Overlapping customer base (brands seeking EPR compliance) and comparable technology-enabled service offering.
• Rubicon Technologies: US-based waste and recycling technology platform providing SaaS and marketplace solutions connecting haulers, recyclers, and waste generators. Comparable business model as a digital waste marketplace with EPR-style compliance and routing capabilities.

Broad incumbents

• TOMRA: Global leader in reverse vending machines and sensor-based sorting for deposit return schemes across Europe, North America, and beyond. Direct competitive overlap with Recykal's dDRS and RVM deployments, especially as Recykal expands into Europe and the UK.
• Veolia: Global environmental services giant offering waste management, recycling, and circular economy solutions. Operates digital platforms for EPR compliance and material trading, making it a broad incumbent comparable to Recykal at scale.
• Waste Management Inc. Largest North American waste and environmental services provider with growing investments in recycling marketplaces and digital waste tracking. Comparable in providing integrated waste management and recycling services to brands and municipalities.

Emerging players

• Renewlogy: US-based plastics recycling technology company converting mixed plastics into virgin-grade output. Adjacent to Recykal in addressing plastics circularity but focused on downstream processing rather than marketplace orchestration.
• Litterati: Data-driven waste management platform using crowdsourced data and AI to map litter and waste flows. Comparable in applying AI/analytics to waste classification and traceability within a digital ecosystem.

Regional players

• WASTE4CHANGE: Indonesia-based waste management platform offering EPR services, digital waste tracking, and recycling marketplace. Highly comparable business model in an emerging Asian market, though operating in a different geography from Recykal's India core.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/recykaldotcom
• Facebookfacebook.com/RecykalIndia
• LinkedInlinkedin.com/company/recykal

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds6 records

Investors10 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Recykal