Recykal Raises USD 23 Million Bridge Round to Accelerate Circular Economy Technology and Global Expansion

Hyderabad, India | June 20, 2026: Recykal, India’s leading technology platform for waste management and the circular economy, today announced the successful closure of a USD 23 million bridge round, comprising a combination of primary and secondary capital from existing investors and select new family offices.

The fresh capital will be deployed towards strengthening Recykal’s technology platform, accelerating Deposit Return System (DRS) deployments, expanding behavioural change solutions in waste management, and supporting international growth initiatives.

Strong Business Momentum
Recykal enters its next phase of growth with robust performance:

• FY26 gross revenue: ₹1,498 crore, representing a 53.2% increase over ₹978 crore in FY25.
• Losses reduced: from 6% to 4%, demonstrating improved operating leverage and disciplined execution.
• As part of the transaction, early climate-focused investor Circulate Capital completed a full exit, realising approximately 5x returns on its original investment.

Pioneering Deposit Return Systems (DRS)
A core focus of the new capital is the acceleration of Recykal’s Deposit Return System (DRS) business.

• In this model, consumers pay a small refundable deposit on packaging that is returned upon recycling, dramatically increasing collection and recovery rates.
• Recykal provides the digital clearinghouse, reverse logistics, consumer engagement, and verification infrastructure that enables such schemes to operate efficiently and at scale.
• Recykal has established a leading DRS track record across multiple Indian states and neighbouring markets, with deployments and pilots spanning Goa, Himachal Pradesh, Kerala, Tamil Nadu, and Bhutan.
• Its reverse vending machine (RVM) and clearinghouse technology stack position Recykal as a preferred partner for governments, beverage producers, and retailers implementing producer responsibility and deposit-return mandates.

Building a Global Circular Economy Platform
Beyond India, Recykal is expanding internationally, taking its waste-management technology and DRS capabilities into global markets.

• Actively pursuing opportunities in Europe and the United Kingdom through organic expansion, strategic partnerships, and potential acquisitions.
• Ambition: to become the technology backbone for circular economy infrastructure worldwide.
• Alongside DRS, Recykal is expanding its Open Marketplace, enabling domestic and global sourcing of recyclable materials and circular commodities by connecting aggregators, recyclers, and industrial buyers.
• The fresh capital will also support strategic investments aligned with Recykal’s long-term vision of building a fully digitised, globally connected circular economy.

Abhay Deshpande, Founder & CEO, Recykal, said: “Recykal was built on a simple conviction, that the circular economy is fundamentally a technology problem. Over the last year, we have demonstrated that growth and improving unit economics can go hand in hand, delivering over 53% revenue growth while reducing losses. Deposit Return Systems are perhaps the clearest expression of this thesis, combining technology, logistics and behavioural change to transform how packaging is recovered. This bridge round gives us the flexibility to deepen our technology investments, scale DRS deployments, and expand into international markets where circularity infrastructure is rapidly becoming a priority. We remain committed to building the digital backbone for a globally connected circular economy.”

About Recykal
Founded in 2016, Recykal is a Hyderabad-based technology company building digital infrastructure for waste management and the circular economy.

• Its platform connects and empowers the entire value chain, including brands, producers, recyclers, aggregators, collectors, and consumers.
• Solutions include traceability, circular commerce, Deposit Return Systems, and material recovery solutions at scale.
• Recykal operates across India and is expanding into international markets, with a growing presence in Deposit Return System deployments worldwide.

🌐 Website: www.recykal.com