Home >Companies >Attero raises funding worth $16.5 million

Mumbai: Attero Recycling Pvt Ltd, a Noida-based electronic waste disposal and management company, has raised $16.5 million (about Rs100 crore), which it will use to build plants and upgrade its technological expertise.

The investment was led by Forum Synergies (India), a Bangalore-based private equity fund, which put in $15 million.

Nitin Gupta, chief executive officer (CEO) with Attero said in a statement on Thursday that the funds will be used “build plants in international markets and improve technology".

Attero had raised $6.3 million from Kalaari Capital and Draper Fisher Jurvetson, a California-based venture capital fund, in 2008 and $8.3 million in its second round in 2010.

Electronic waste in India is set to reach 1.72 million metric tonnes by 2020, according to the company.

Attero’s competitors include Delhi-based Karma Recycling Pvt Ltd, which raised seed funding last year and Eco Recycling Ltd.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.

Edit Profile
My ReadsRedeem a Gift CardLogout