Clean-tech Startup PadCare Secures Rs 5 Cr In Seed Round
PadCare Labs, a clean-tech Startup secures Rs 5 crore seed funding round led by Social Alpha with strategic investments from Lavni Ventures, 3i partners, Rainmatter, and Spectrum Impact.
PadCare intends to use the funds from the seed funding to expand its operations in India and other countries over the next two years, primarily by establishing decentralized material recovery centers, as per reported by BW Disrupt.
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Commenting on the seed funding round, Ajinkya Dhariya, Founder and CEO, PadCare said, “Our special sanitary pad disposal bins and vending machines are already serving 1 million menstruators in the country. With the seed investment, we look forward to expanding our sustainable menstrual hygiene management services. We’re also working towards creating markets for reclaimed pulp and plastic.”
In order to improve the menstrual hygiene industry in India while maintaining user habits, Ajinkya Dhariya founded PadCare in 2018.
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Smita Rakesh, VP and Partner, of Social Alpha said, “Solving the issue of waste management and working towards a circular economy has been one of the key focus areas for Social Alpha. We are excited to be a part of PadCare Labs’ journey.”
Viraj Joshi, Manager – Investments at Rainmatter said, “PadCare’s unique approach of recycling used pads and generating economic value from those struck a chord with us. At Rainmatter, waste management is one of the core themes we aim to support.”
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About PadCare Labs
PadCare is an innovative smart hygiene management solution, that starts with the availability of menstruation items and ends with the production of recyclable output from used pads.
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