Attero Recycling, an electronics asset management company, today said it has raised Rs 100 crore from a clutch of investors led by Forum Synergies as the company looks to expand its business in India and worldwide.
The Noida-based company has mopped up two earlier rounds of funding from private equity entities like Draper Fisher Jurvetson, Granite Hill India Opportunity Ventures, Kalaari Capitals and debt funding from International Finance Corporation (IFC).
"This funding enable us to scale the company, expand geographically, grow our client base and help more businesses manage e-waste in the country and globally," Attero CEO Nitin Gupta said in a statement.
The company has national and global expansion plans with definitive structure of setting up manufacturing plants units this financial year itself, Attero said.
Attero announced "a Rs 100 crore Series C round of investment in a round led by Forum Synergies (India), a pioneering PE Fund Manager".
The company said it is all set to catapult itself into the billion dollar league in the next four years.
According to recent studies, e-waste in India is set to reach 1.72 million metric tonnes by 2020. To complement its efforts towards a sustainable e-waste management solution, Attero has also been working to formalize the informal sector, which handles a major portion of e-waste in the counttry.
