Indian Electronics Recycler Completes Second Round of Funding

Attero Recycling, an India-based electronics recycling company, announces that it has attracted $150 million Rs (US$3.23 million) in investment from Granite Hill India Opportunities Fund.

IndoUS Venture Partners and Draper Fisher Jurveston, Series A investors, participated in the current round.
Attero Recycling has the capability of recycling 36,000 metric tons of electronic scrap per year. The company says that it has developed India’s first technology for extracting metals from electronic scrap and plans to use the investment funds to enhance the technology of its plant and strengthen the collection system.

Sameet Mehta, who joined Attero’s board on behalf of Granite Hill, says, “We have partnered with Attero after realizing their potential and looking at their remarkable progress in the last two years. Attero has indeed established itself as the pioneer of the e-waste recycling industry. Growing e-waste is a major problem across nations and we hope to continue working with Attero towards eradication of this problem.”

“We are pleased that Granite Hill has decided to back us, and we hope to benefit from the experience of their general partners,” says Nitin Gupta, CEO, Attero Recycling. “With this funding, we are confident of setting new benchmarks in safe and environmentally friendly processing of e-waste and strengthening our commitment to the environment. We hope that this funding round will enable us to strengthen our connect with the corporate sector and motivate them to give their e-waste to us for safe recycling.”

Following the commissioning of a metal extraction unit at its Roorkee, India, facility, Attero plans to expand its capacity to process most of the mixed metal electronic scrap generated in India.