Infinite Cercle Pvt Ltd, which runs tech-enabled waste management platform Cercle X, said it has bagged a seed funding of Rs 1.9 crore (around $255000) led by Inflection Point Ventures.
The company plans to use the fresh capital across marketing, operations and technology and also eyes reach in tier 1 cities and south India.
Founded in 2020 by Vishnu Vardhaan and Divya Shetty, Cercle X is a waste management tech firm that enables industries to sell to authentic recyclers and also collects waste from the public via extended producer responsibility (EPR) and processes it to achieve zero waste to landfill goal.
The platform aims on creating a business-to-business (B2B) marketplace that connects brands, consumers, aggregators, recyclers, logistics partners, manufacturers across the waste value chain. It has also partnered with over 700 vendors and channelises more than 500 metric tons of recyclables each month.
"This platform aims to conserve the planet and at the same time empower thousands of waste warriors associated with the company. Not only is this a high-impact socially relevant investment but is a big untapped market opportunity for a sector-agnostic platform like IPV.
The company is already working with some of the leading corporates and has a strong pipeline for the coming quarters," said Ankur Mittal, Co-Founder, Inflection Point Ventures.
Inflection Point Ventures is an angel investing platform with over 6200 chief experience officers, high net-worth individuals and professionals.
The firm backs new-age entrepreneurs by providing them monetary and experiential capital and connecting them with a diverse group of investors.
Recently, IPV backed the healthcare startup Hospals and SaaS (software-as-a-service) startup unremot along with other investors.
