Waste management company raises ₹6 crore based on operations in Bengaluru

Hasiru Dala Innovations came up with a portable refilling water station as an alternative to single use plastic water bottles in 2022. The company’s model integrates waste pickers and informal waste workers into the evolving circular economy, transforming them into Green Collar professionals and entrepreneurs.
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Hasiru Dala Innovations (HDI), a waste management company dedicated to inclusive circularity, has raised ₹6 crore in a pre-series A equity funding round. The round was led by Rainmatter Fintech Investments. Next Bharat Ventures IFSC, a Suzuki-backed alternative investment firm, made its first direct portfolio investment with its contribution to HDI.

“The capital infusion will accelerate HDI’s growth in key areas, including scaling its plastics circularity business to increase recycling capacity and operational efficiency. It will also support the expansion of its Bio-gas plant through its joint venture with Carbon Masters, reinforcing its commitment to sustainable waste-to-energy solutions,” said a press release from the company.

Nithin Kamat, CEO, Zerodha and Rainmatter, speaking on the investment, stated, “Hasiru Dala Innovations has built a unique, inclusive model that not only tackles waste management but also empowers waste pickers as key stakeholders in the circular economy. Their work in plastics circularity and bio-energy solutions is creating tangible environmental and social impact.”

With ongoing efforts, HDI has successfully diverted over 100,000 tons of municipal solid waste away from landfills, conserving approximately one million cubic meters of landfill space and mitigating 1,31,493 tCO2e greenhouse gas (GHG) emissions.

Shekar Prabhakar, CEO & Cofounder of Hasiru Dala Innovations, said on the recent investments, “At Hasiru Dala Innovations, our mission has always been to create a world with no waste and no waste pickers—where those who have been traditionally marginalized are at the forefront of the circular economy. Beyond livelihood opportunities, we are focused on driving systemic change, with over 40 informal waste sector suppliers now adopting fair trade practices.”

The company’s model integrates waste pickers and informal waste workers into the evolving circular economy, transforming them into Green Collar professionals and entrepreneurs.