Rainmatter Leads USD 3 Mn Pre-Series A Funding for PadCare Labs The round also saw participation from 3one4 Capital, Brigade REAP, and PKRBCV Shroff Trust.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Clean-tech startup PadCare Labs has raised USD 3 million in a pre-Series A funding round led by Rainmatter.
The round also saw participation from 3one4 Capital, Brigade REAP, and PKRBCV Shroff Trust.
Existing investors Lavni Ventures and 3i Partners joined the round, along with debt support from EXIM Bank and ICICI Bank. The funding includes a mix of equity and debt.
The startup plans to use the fresh capital to increase its recycling capacity to 2,000 metric tonnes per year by March 2027. It also aims to expand operations in Bengaluru and Delhi NCR and strengthen its leadership and core operational teams.
Founded in 2018 by Ajinkya Dhariya, PadCare Labs works in the sanitary waste recycling sector. It focuses on building compliant and scalable recycling infrastructure. The startup currently operates in 24 cities across India, managing more than 2,000 sites and serving over 685 enterprise, manufacturing, and residential clients.
PadCare is preparing to launch PadCare Orbit, a business-to-consumer app designed for sanitary waste management in housing societies. It also plans to expand into the Asia-Pacific region.
The startup has developed patented technology to recycle used sanitary waste and runs Rebirth, a range of recycled stationery and paper products. PadCare reports being PAT positive for the past two years with EBITDA margins of 26%.
