Reverse Logistics Startup ScrapUncle Raises Rs 3.7 Cr In Pre-seed Funding
ScrapUncle, a Delhi-based reverse logistics startup, has raised Rs 3.7 crore in pre-seed funding. The funding round was co-led by Bestvantage and a family office of the promoters of Madhuram Papers, along with other angel investors, including Bharat Jaisinghani.
As per the startup, the freshly raised funds will be used to enhance its current operational scale, thus making a substantial contribution to the company’s overall revenue.
ScrapUncle | Sell your recyclables
Founded by Mukul Chhabra in 2019, ScrapUncle is a Delhi-based reverse logistics startup that offers scrap recycling services via its website and application. The digital platform enables users to dispose of their recyclables (Kabaad) in a responsible & rewarding manner.
Using their app/website, users can schedule a doorstep pickup for their junk items like paper, metals, plastics, electronic waste, etc., and get paid for the same. The Delhi-based reverse logistics startup enables homeowners and offices to conveniently schedule the collection and recycling of their scrap materials.
For households, it offers on-demand doorstep pickups with accurate digital weighing carried out by trained and verified staff. And for businesses, the startup provides comprehensive solutions, including formal payments and documentation, sustainability reports, and competitive prices.
It aims to tackle waste management problems by bringing efficiency, transparency, and eco-consciousness to the scrap recycling process. As per its website, Urban Company, Godrej, DS Group, and Tata Steel are among its clients.
Competing with The Kabadiwala, RecycleBaba, and a few others, ScrapUncle had previously raised Rs 60 lakh from CarDekho CEO Amit Jain during Shark Tank India Season 2. ScrapUncle, who was the winner of the Urban Works Challenge by Columbia University, claims to have completed 50k+ pickups in Delhi NCR. Additionally, the startup claims to have sent 2.5M+ kgs of junk+recyclables to recycling units.
As per estimates, the market size for reverse logistics is approximately $60 billion. The market is expected to reach $80 billion by 2025, growing at a CAGR of 12%.
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