Electronic waste and battery recycling startup Attero has marked its foray into D2C space with the roll out of an integrated e-waste consumer take-back platform called Selsmart
The company aims to transform the e-waste recycling landscape and combat India's growing e-waste crisis, which is projected to reach 14 Mn tonnes by 2030
The Noida-based company now looks to achieve an annual recurring revenue (ARR) of INR 100 Cr, by collecting 14,000 metric tonnes of e-waste
Electronic waste and battery recycling startup Attero
has marked its foray into the direct to consumer (D2C) space with the roll out of an integrated e-waste consumer take-back platform called Selsmart.
With this platform, the company aims to transform the e-waste recycling landscape and combat India’s growing e-waste crisis, which is projected to reach 14 Mn tonnes by 2030, it said in a statement.
Selsmart will enable consumers to schedule doorstep pickups of used electronic gadgets and appliances, and receive fair market equivalent prices in return.
The company also said that this platform will provide full data security with top-of-the-line data wiping, degaussing and physical destruction processes. Besides, Selsmart will facilitate disposal of e-waste through Attero’s recycling processes.
Founded in 2008 by Nitin Gupta and Rohan Gupta, Attero offers recycling of the electrical and electronic devices. As one of the leading e-waste recyclers, the company claims to process 144,000 metric tonnes of e-waste annually at its Roorkee plant and plans to expand it to 415,000 metric tonnes in next five years.
The company counts Kalaari Capital, Granite Hill Capital, IFC and Forum Synergies among its investors.
Nitin Gupta, cofounder and chief executive said, “Selsmart addresses the significant gap in household electronics disposal. We are aiming to establish Selsmart as India’s largest consumer take-back platform and are forging partnerships with leading brands and OEMs to incorporate circularity & sustainability into their business models.”
This development comes on the back of the boom in India’s D2C market, which is likely to reach a size of $100 Bn by 2025. The growth is contributed by the pandemic, higher internet penetration, growth of digital infrastructure and cost of living that have shored up the D2C brands.
Most manufacturing and electric vehicle companies depend highly on lithium-ion batteries for their production.
Banking on the rise of battery usage, Gupta claimed that the company is cash flow positive and growing exponentially, in September 2023. Attero claims to have clocked revenues to the tune of INR 300 Cr in FY23.
With the new label introduced in the market, the Noida-based company now looks to achieve an annual recurring revenue (ARR) of INR 100 Cr, by collecting 14,000 metric tonnes of e-waste. By the third year, Attero is forecasting to make INR 1,000 Cr in annual recurring revenue, with 140,000 metric tonnes of e-waste collected.
Startup nurturing platform India Accelerator has floated a new vertical to back businesses operating in the cleantech sector, by writing a cheque of INR 1.5 Cr to each startup via its Finvolve Accelerator Fund. Besides, it will also allocate INR 4.1 Cr to each startup through the Finvolve Seed Fund to support growing startups looking for expansion.
