changeadminCleantech startup EcoEx has successfully raised US$4 million (approximately Rs 35 crores) in a funding round co-led by Dovetail Global Fund PCC, Navbharat Investment Fund, and Narnolia Velox Fund.
Founded in 2018 by Nimit Aggarwal and Akshaya Rath, EcoEx is a rapidly growing waste management startup based in Delhi. The company specialises in digital marketplace solutions and compliance platforms that help businesses manage, trace, and recycle their waste streams, notably plastics, e-waste, tyres, batteries, and used oil.
Their tech-enabled platform facilitates the trading of waste materials, enabling bulk waste generators and recyclers to transact, track waste movement in real-time, process digital payments, and conduct e-auctions.
The company also offers consultancy services for effective waste management and ESG-aligned practices, and provides expertise in setting up recycling units and waste-to-energy plants. It helps organisations by trading credits and issuing Plastic Credit Certificates, as required by the Plastic Waste Management Rules.
EcoEx’s model directly addresses Extended Producer Responsibility (EPR), connecting producers, importers, and brand owners with certified recyclers to ensure regulatory compliance and ethical disposal through transparent technology solutions.
India’s EPR is a regulatory framework designed to ensure the management and environmentally sound disposal of waste in the economy. EPR shifts the post-use responsibility from local authorities to those who place products into the market, ensuring that waste, especially packaging, electronics, batteries, tyres, and plastics, is collected, processed, and recycled efficiently.
The cleantech startup EcoEx’s clients include FMCG players such as Marico, Adani Wilmar, Haldiram’s, Dabur, and Tata Consumer Products.
Delhi-based startup plans to utilise the latest funding to enhance its offerings and expand operations, enabling more responsible plastic waste management in India.
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