Mumbai-based waste management start-up Sampurn(e)arth has announced to raise Rs 10 million in fresh round of funding from ah! Ventures, Intellecap Impact Investment Network (I3N) and Rianta Capital.
Talking about the investment, Sidharth Pansari, Group Director, Primac Group and an Investor from ah! Ventures, said, “It is our responsibility to give our environment and the people living around us – a more sustainable future than we have today. By investing in Sampurn(e)arth, we are directly contributing in creating a positive impact on the environment, coming up with innovative ways in which one can turn waste into re-usable resources and renewable energy. We should put our knowledge and experience to come up with new sustainable solutions for the greater benefit of the planet by creating better disposal options and safer treatment of waste”.
Co-founded by Debartha Banerjee, Jayanth Nataraju and Ritvik Rao in 2012, Sampurn(e)arth provides end-to-end decentralised and customised waste management solutions – such as dry waste collection and processing, biogas plant installation, composting and consulting services. It works closely with the non-profit waste picker organization Stree Mukti Sanghatana and actively incorporates waste pickers into the process, thereby up-skilling them and increasing incomes. Its clientele includes municipal bodies, corporate parks educational campuses and residential units.
Sharing the statistics on the scale of the problem in the waste management segment, Co-founder Nataraju said, “In Mumbai alone, about 10,000 tonnes of waste is generated daily, so there is a huge opportunity for intervention. With initiation of the Swacch Bharat Abhiyan, there is an increased interest in our solutions and we are seeing tremendous support from stakeholders across the value chain. We are confident that with the guidance of investors on scaling the business, we will be able to move the needle on this vast challenge.”
Sampurn(e)arth provides wet and dry waste management solutions for corporate, residential societies and construction companies. Backed by Tata Institute of Social Science (TISS) incubator project, Sampurn(e)arth’s objective is to make solid waste management efficient, decentralised and even profitable. It encourages on-site segregation, wherever possible. It also sets up on-site biogas or composting facilities for wet waste, while non-biodegradable waste is transported directly to recycling units. This leaves only a small amount of dry waste to be transported to the dumping grounds.
Speaking on the same lines, Ajay Dalmia, I3N, said, “The current method of dumping waste into landfills leads to several environmental and societal problems. This practice adversely affects the health of people and also fails to recognise the inherent value in the waste. Sampurn(e)arth is bringing in an effective decentralized asset light business model that is environmentally sustainable, generates employment and is profitable. This is an execution intensive model and we have full faith in the promoters’ passion for the cause and ability to deliver.”
ah! Impact, the platform through with the investment in Sampurn(e)arth was made, validates the team’s commitment and foresight towards social investing in India. Also, a large number of investors, who are mostly first time investors, are showing great interest in investing in social enterprises with high potential and measurable social or environmental impact.