ReCircle receives DBS grant

ReCircle, a resource recovery clean-tech innovator, is among the five Indian businesses for impact that have received the DBS Foundation Grant Award in the latest instalment. The five Indian BFIs were among the 24 finalists for the DBS Foundation grant from across Asia.

25 Apr 2024 | By Disha Chakraborty

DBS Foundation awards grant funds totalling SGD 3.7 for 24 Businesses for Impact (BFIs), including 5 from India. ReCircle was among the 5 Indian BFIs recognised by DBS Foundation; BFSIs to receive bank-wide support such as preferential banking packages and mentorship. 

ReCircle, a resource recovery clean-tech innovator, is among the five Indian businesses for impact that have received the DBS Foundation Grant Award in the latest instalment.

The final grantees were evaluated based on criterias like including their ability to create social and environmental impact, innovate and on the overall sustainability and scalability of their organisations. The five Indian BFIs were among the 24 finalists for the DBS Foundation grant from across Asia.

The winning BFIs will receive holistic support to scale both their business and the impact generated through grant funding totalling SGD 3.7 million for all the grantees; along with additional support such as customised banking services and capacity-building, along with access to business prospects.

The businesses awarded, including ReCircle, are working at the nexus of economic, environmental, and social impact, and their innovative solutions are a pathway to a more inclusive, low-carbon future. ReCircle is a traceable supply chain for waste pickers and the funds will be utilised towards fostering inclusion across underprivileged and marginalised communities in India.

The grant will be used to enhance ReCircle’s ethical and inclusive circular economy mission, and will be used to upgrade its traceability platform, ClimaOne, diverting 400T of waste from landfills and oceans, while improving the lives and livelihoods of waste pickers. ReCircle will receive support to scale both its business and the impact generated; along with additional support such as customised banking services and capacity-building, along with access to business prospects.

Rahul Nainani, CEO and co-founder, ReCircle said “The Grant is not just a recognition for ReCircle but a beacon of belief in our mission to tread lighter on the planet and uplift those who help us achieve this goal. The grant from DBS Foundation will enhance our ClimaOne platform, further our waste diversion efforts, and, most importantly, improve the lives and livelihoods of our Safai Saathis (informal waste workers). We are committed to drive meaningful change across the waste value chain, and we thank DBS Foundation for believing in our sustainable and profitable track record over the years, as well as our vision to drive environmental and social impact.”
 
Over the years, ReCircle has improved urban waste systems by working directly and indirectly with informal waste workers, impacting lives and providing access to financial literacy, education and training opportunities to over 400 Safai Saathis (informal waste workers). The grant fuels ReCircle’s vision of transforming waste into a valuable resource and bringing dignity to the work of waste pickers, who are, often, overlooked in the value chain. 

“In moments like these, I am reminded of the power of creating lasting change through collective action and building a circular future. This achievement fuels our ambitious growth strategy of expanding our network of collectors and waste pickers and continuing to build strategies to reach the last-mile of the value chain ensuring dignity and equity for informal waste workers”, said Gurashish Singh Sahni — Co-Founder & COO, ReCircle. 

 ReCircle empowers consumers and brands to divert waste away from landfills and oceans, and back into the economy to be recycled, reused or repurposed. 

Headquartered in Mumbai, ReCircle has diverted over 1,00,000+ MT of waste from landfills and our oceans across 270 cities & towns in India with the help of 45+ processing partners who have a pan-India network of 400 collection partners all while impacting the lives of over 3100 informal waste workers or Safai Saathis. 

Recircle at a glance:

ReCircle empowers consumers and brands to divert waste away from landfills and oceans, and back into the economy to be recycled, reused or repurposed. 

Headquartered in Mumbai, ReCircle has diverted over 1,00,000+ MT of waste from landfills and our oceans across 270 cities & towns in India with the help of 45+ processing partners who have a pan-India network of 400 collection partners all while impacting the lives of over 3100 informal waste workers or Safai Saathis. 

With DBS Foundation’s support, the 24 BFIs aim to collectively achieve the following impact outcomes by end 2025:

Positively benefit one million people from underprivileged segments by increasing access to solutions and providing daily needs;

Abate and/ or save 30,000 tonnes of greenhouse gas emissions; and

Collect, reduce, or recycle 50,000 tonnes of waste.

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