Press Release: Bangalore, April 29, 2019
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Recognised as a Start-Up by the Government of India, Saahas Zero Waste (SZW) has closed an investment aggregating to INR 6 crores from leading Impact Investors – Capital 4 Development (lead investor), Indian Angels Network (IAN), Lesing-Artha Ventures and Asha Impact. The investment amount will be used to enhance collection and aggregation of all types of non-biodegradable waste including low-grade plastics through setting up of material recovery facilities that have the appropriate technology to maximise recovery of resources.
Saahas Zero Waste (SZW) is a social enterprise which has uniquely positioned itself as a company providing decentralised waste management services. This approach enables the recovery of more than 90% of resources from municipal solid waste.
The company which was registered in 2013 currently manages 45 tonnes of waste per day. It is based in Bangalore but over the last 2 years has expanded its presence across South and Western India. The business is aligned not only to the waste management regulations of the central and state governments in India but also structured to align with the UN’s Sustainable Development Goals.
Says Arvind Agarwal, Managing Partner, C4D Partners, and a director at SZW, “We believe that the way forward is through the maximum recovery of resources within a framework of decentralised waste management. However, this approach also needs expertise and professional management. We were impressed with the way Saahas Zero Waste has meticulously put together a system that walks the talk both in terms of business but also social impact. It has lived up to its core values of maximum resource recovery by bringing together, Nature, People, and Technology. C4D Partners is committed towards the business and will also invest in the next funding round(s).”
Adds Nagaraja Prakasam, lead investor, Indian Angel Network and Director at SZW, “SZW works with waste which has low economic value. This is the waste which we typically see on our streets-packaging waste, multi-layered laminates, tissues, paper cups are all orphan waste categories that SZW diligently processes so as to ensure that they don’t end up in landfills or open spaces. The company’s business model is based on revenue from waste as well as a service fee from waste generators. This simple business model enables SZW to generate safe livelihood options and also address environmental and health concerns.”
The company currently has a total staff strength of 248 of which 60% are women. Additionally, the company has been able to attract highly qualified talent that works at the front end to design intelligent solutions and execute complicated operations. This includes the collection of segregated waste, tracking and managing logistics, secondary sorting systems, aggregation and compaction and finally management of recycling and sale of recycled products.
The company last year (FY 2018-19) will have increased its revenue by 50% over the previous year. Says Wilma Rodrigues, Founder at SZW “We are excited to now scale our business and thereby demonstrate how we can solve the waste problem through resource recovery and recycling. This model will also create a plethora of jobs both at the base of the pyramid but equally provide satisfying careers for professionals looking to make a difference in the environment sector.”
For more information, please contact: Saahas Zero Waste, Shavez Moidin, +918296983755, shavez@saahaszerowaste.com
