ScrapUncle, a pioneering reverse logistics startup, has successfully secured INR
3.7 crore in a pre-seed funding round, marking a significant milestone in its
mission to revolutionise the scrap recycling industry. The funding round was
co-led by Bestvantage and a family office associated with the promoters of
Madhuram Papers, in addition to participation from several angel investors,
including Bharat Jaisinghani.
This capital infusion follows ScrapUncle’s initial investment of INR 60 lakh
from Amit Jain, CEO of CarDekho, during Shark Tank India Season 2. The company intends to utilize these funds to expand its existing operational capacity, with the goal of substantially boosting its overall revenue.
ScrapUncle, headquartered in Delhi and established in 2019 by Mukul Chhabra,
has emerged as a game-changer in the scrap recycling realm. Leveraging its
innovative online platform, ScrapUncle offers an array of scrap recycling
services. This platform provides homeowners and businesses with a convenient
and efficient way to schedule the collection and recycling of their scrap
materials.
With estimates indicating that the market for reverse logistics is valued at
approximately USD 60 billion and is poised to reach USD 80 billion by 2025,
exhibiting a compound annual growth rate (CAGR) of 12 percent, ScrapUncle
is well-positioned to play a pivotal role in this rapidly expanding sector. The
company’s innovative approach and commitment to sustainability align with the
growing global emphasis on responsible waste management and environmental
stewardship.
