Hasiru Dala Innovations Secures Pre-Series A Funding from Rainmatter and Next Bharat Ventures The fresh funds will be used to scale plastics recycling, expand its Bio-gas plant with Carbon Masters, enhance operations, hire leadership, and grow beyond Bengaluru, strengthening its waste management and circular economy impact.
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Hasiru Dala Innovations (HDI), a for-purpose enterprise committed to sustainable waste management and the circular economy, has raised INR 6 crore in a Pre-Series A funding round. The investment was led by Rainmatter Fintech Investments, with Next Bharat Ventures IFSC—a Suzuki-backed alternative investment firm—making its first direct portfolio investment.
The funding will be utilised to scale HDI's plastics circularity business by enhancing recycling capacity and operational efficiency. Additionally, the company plans to expand its Bio-gas plant in collaboration with Carbon Masters, advancing its waste-to-energy initiatives. The capital will also support leadership hiring and expansion beyond Bengaluru, enabling HDI to deepen its impact on waste management and circular economy solutions.
Nithin Kamath, CEO of Zerodha and Rainmatter, said, "Hasiru Dala Innovations has built an inclusive model that not only addresses waste management but also empowers waste pickers as key stakeholders in the circular economy. Their work in plastics circularity and bio-energy solutions is driving tangible environmental and social impact. At Rainmatter, we support businesses that bring systemic change for a sustainable future, and we are excited to be part of HDI's next growth phase."
"At Next Bharat Ventures, we back impact entrepreneurs who create lasting social change. Hasiru Dala Innovations embodies this mission by integrating waste pickers into resilient circular economy models. Their approach, rooted in dignity and economic empowerment, is transformative. We are proud to support HDI as our fund's first direct investment and look forward to their expansion across geographies," added Vipul Nath Jindal, MD and CEO of Next Bharat Ventures.
Founded in 2015 by Shekar Prabhakar, Nalini Shekar, and Marwan Abubaker, Hasiru Dala Innovations has been at the forefront of sustainable waste management, significantly impacting the informal waste sector. The company has successfully diverted over 100,000 tons of municipal solid waste from landfills, preserving nearly 1 million cubic meters of landfill space and reducing 1,31,493 tCO2e greenhouse gas emissions.
Shekar Prabhakar, CEO and Co-founder of HDI, remarked, "Our mission is to create a world with no waste and no waste pickers. We have empowered 29 waste picker entrepreneurs, provided predictable livelihoods to over 300 waste workers, and facilitated supplemental income opportunities totaling 9,300 person-hours. With support from Rainmatter and Next Bharat Ventures, we are confident in scaling our impact."
HDI is the only multi-stream solid waste management company globally certified as a Fair Trade Guaranteed Enterprise by the World Fair Trade Organisation (WFTO). Its Inclusive Circularity model transforms waste pickers into Green Collar professionals, fostering social and environmental sustainability.
