Waste management equipment manufacturer, Kam-Avida Enviro Engineers, today said that it has raised equity from Peepul Capital Fund II LLC.
The company, however, did not disclose the amount raised.
Kam-Avida intends to use the funds to set up a manufacturing and assembly facility which would help it ramp-up production capacity and to strengthen its sales and marketing presence, a press release issued here stated.
Peepul is a leading India-focussed private equity fund.
Kam-Avida would invest a part of the capital to strengthen its balance-sheet to foray into wet-lease services for large-scale sewage cleaning and maintenance, the release said.
"Our business has been relatively working capital-intensive, and lack of it was hampering our operations and curtailing our growth. We believe this infusion of equity from Peepul Capital will not only enable us to overcome this immediate hurdle but also allow us to make long-term investments to further improve our overall efficiency," Kam-Avida's Managing Director, Manohar Krishna, said.
Kam-Avida manufactures and offers a range of highly mechanised equipment for large-scale garbage/waste collection and transportation, sewage cleaning and sweeping/cleaning machines.
It specialises in design and system integration of equipment that optimise garbage collection and disposal for domestic and commercial waste.