You are here: Home » Companies » News
Business Standard

e-waste management firm Attero raises Rs 100 cr

Forum Synergies leads third round of funding for Noida-based company

BS Reporter  |  New Delhi 

Attero, the Noida-based e-waste management company, today announced a $15 million Series C round of investment in a round led by private equity firm Forum Synergies (India).

Existing investors Draper Fisher Jurvetson (DFJ), Granite Hill India Opportunity Ventures, Kalaari Capitals also particiapated in this round of fund, Attero said in a statement.

The company has raised 2 earlier rounds of funding from existing PE investors and debt funding from International Finance Corporation.

Attero is the only company in India with the capability to extract pure metals from end of life electronics. To deal with the problem of electronic assets, Attero offers various services including customized end to end solutions for e-waste management; electronics asset recovery, data security and pan-India reverse logistics along with repair, refurbishment and retailing of electronics.

Commenting on the just-concluded deal, Samir Inamdar, Co-founder, Managing Director and CEO, Forum Synergies (India) said, “Attero addresses a growing environmental concern in India in a safe and efficient manner. We are confident of helping Attero management create a global company out of India. What attracted us to Attero was the innovative technology, the passionate and high-energy management team and their vision for growing the business.”

Nitin Gupta, CEO, Attero said, “The funding will enable us to expand geographically, grow our client base and help more businesses manage e-waste in the country and globally.”

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 India.

The idea is to train informal sector workers and establish a consumer e-waste collection channel, which will divert e-waste to the formal sector for responsible recycling.

Forum Synergies is a private equity fund manager headquartered in Bangalore. It focuses on investing growth capital in SMEs and mid-market businesses in engineering, healthcare, clean technology and information and communication technology.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, August 28 2014. 14:55 IST
RECOMMENDED FOR YOU
.