Recykal pulls $23M bridge to scale Deposit Return Systems across India and crack UK/Europe
Hyderabad-based circular economy platform Recykal raised a $23M bridge from existing investors and family offices, posting ₹1,498 crore FY26 revenue (+53.2%) with losses narrowing from 6% to 4%. Capital funds Deposit Return Systems rollout across Indian states and expansion into UK and Europe.
What happened
Hyderabad-based circular economy platform Recykal raised $23M bridge round from existing investors and family offices to scale Deposit Return Systems across
Key facts
- $23M bridge round
- ₹1,498 crore FY26 revenue
- 53.2% revenue growth
- losses reduced from 6% to 4%
- 5x returns to Circulate Capital
Why this matters
Recykal's UK/Europe push positions it as an acquisition target or partner for Western waste majors needing emerging-market DRS tech and EPR compliance rails ahead of tightening packaging regs.