Momentum Capital led the pre-seed round for Recove, a B2B startup that is digitizing and modernizing the supply chain for plastics recycling. The company raised Rs 5.3 crore.
Key Highlights
- Recove secures ₹5.3 crore pre-seed investment from Momentum Capital to enhance product roadmap, scale team, and expand operations.
- Funding will drive Recove’s go-to-market strategy, tech development, and partnerships across health & wellness verticals in India.
Industry veterans and angel investors Ganesh Natarajan (former CEO of Aptech & Zensar), Ashish Goel (co-founder of Urban Ladder), Chaitanya Kejriwal, and Shruti Deorah also participated in the round.
The money raised will be utilized to build pre-processing facilities, grow Recove's network of recycling partners, and scale its marketplace throughout India.
Recove, which was founded in 2024 by Viral Chhajer, Nirja Bhatt, and Sharan Subaiah, is developing a tech-enabled business-to-business marketplace for recyclable plastics.
The platform links recyclers and suppliers of plastic waste, supported by in-house pre-processing facilities and supply chains driven by technology to guarantee quality and consistency.
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Through the integration of digital procurement and physical pre-processing infrastructure, Recove ensures that waste generators gain better realizations while recyclingrs receive reliable raw materials.
The startup says that in just one year and has simplified procurement for more than 30 recycling businesses across the country.
