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PadCare Labs, a Pune-based startup for sustainable sanitary waste processing and recycling, has closed a INR 5 crore Seed funding spherical led by Social Alpha with strategic investments from Lavni Ventures, 3i companions, Rainmatter, and Spectrum Influence. The corporate plans to make the most of the seed capital to develop the working geographies in India and past within the subsequent 24 months, majorly to arrange decentralized materials restoration centres. The clean-tech startup may also proceed to take a position closely in advancing its patented 5D recycling know-how and for product commercialization.
“With the seed funding, we sit up for increasing our sustainable menstrual hygiene administration companies to residential buildings and communities. We now have arrange two sanitary waste materials restoration centres now and goal to fee six extra by FY2023. We’re additionally working in the direction of creating markets for reclaimed pulp and plastic,” mentioned Ajinkya Dhariya, founder and CEO, PadCare.
PadCare’s distinctive recycling know-how closes the loop of the menstrual hygiene financial system by producing recyclable output out of used pads, which might in any other case take as much as 800 years to decompose. The recycled output is additional used to make paper and plastic-based objects. In addition they present pad merchandising machines to reinforce the accessibility to menstrual merchandise, in keeping with an official assertion by the corporate.
“We’re excited to be part of PadCare Labs’ journey for the reason that firm is tackling environmental, financial, and social challenges associated to menstrual waste, an usually ignored waste class. We imagine their proprietary know-how to recycle used pads is a game-changing innovation that may disrupt the market and have important social and environmental impression within the coming years,” mentioned Smita Rakesh, VP and accomplice, Social Alpha.
PadCare was based in 2018 by Ajinkya Dhariya with an goal to revolutionize India’s menstrual hygiene financial system by making interval decisions sustainable with out altering consumer preferences.
