Attero, Noida based e waste recycle management company has secured series B fund of Rs. 15Cr led by Granite Hill India Opportunities Fund(Mauritius), existing investors DFJ and Indo US Ventures also participated in this round.
Attero Recycling is the only environmentally conscious end-to-end e-waste management solution provider in India and is one of the few such recyclers globally. Attero is also the only integrated e-waste recycler in India to be awarded the Recycling Registration for Environmentally Sound Recycling of Hazardous Waste by the Central Pollution Control Board, Ministry of Forest & Environment.
Incorporated in 2008, Attero Recycling was successful in attracting a series A funding of $6.3 million from top tier venture capital firms IndoUS Venture Partners and Draper Fisher Jurvetson in 2008. It has a highly automated facility for integrated e-waste recycling at Roorkee, Uttrakhand. The company has a first-of-its kind indigenous metallurgical process developed in its R&D division and a close technical collaboration with a leading US company for mechanical separation. Attero Recycling has more than 165 clients which include Wipro, HCL, Tata Tele, Google to name a few.
Here is the Press release:
Attero Recycling, India’s only integrated end-to-end electronic waste recycling company based in Noida, has attracted Series B investment from Granite Hill India Opportunities Fund (Mauritius). Both, IndoUS Venture Partners and Draper Fisher Jurveston who were Series A investors, enthusiastically participated in the current round. Attero Recycling is the only end to end recycler in the country with the capacity to recycle 36, 000 tonnes of e-waste per annum. Attero has developed India’s first technology for extracting metals from e-waste and plans to use the funds to further enhance the technology of their plant and strengthen their collection system
Mr. Sameet S. Mehta, will join the Board of Attero as a Director on behalf of Granite ill. Commenting on Attero, Mr. Mehta said, “We have partnered with Attero after realizing their potential and looking at their remarkable progress in the last two years. Attero has indeed established itself as the pioneer of the e-waste recycling industry. Growing e-waste is a major problem across nations and we hope to continue working with Attero towards eradication of this problem”
On the occasion, Mr. Nitin Gupta, CEO, Attero Recycling said- “We are pleased that Granite Hill has decided to back us and we hope to benefit from the experience of their General Partners. With this funding, we are confident of setting new benchmarks in safe and environmentally friendly processing of e-waste and strengthening our commitment to the environment. We hope that this funding round will enable us to strengthen our connect with the corporate sector and motivate them to give their e-waste to us for safe recycling.”
After successfully commissioning the metal extraction unit at Roorkee, Attero plans to expand the existing capacity to process most of the mixed metal e-waste generated in India. The amount of e-waste being generated in India today is staggering and most of it is being treated in the unorganized sector in a hazardous manner. Attero is addressing this growing environmental hazard with it’s a state-of-the-art plant operational in Roorkee, Uttarkhand to recycle e-waste in an environmentally safe and sound manner.