Monday, July 15, 2024

Startup Neo San Raises $1.5 Million in Seed Funding

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Bengaluru-based cleantech startup Neo San has successfully raised $1.5 million in a seed funding round. This new funding values the company at $7.2 million. The funding round was supported by several notable investors, including Ashish Kacholia, Apurva Damani, Mammen Kurien, Sandeep Telang, Vanshay Goenka, Siddhi M, pro-golfers Anirban Lahiri and S. Chikkarangappa, Aaradhana Jhunjhunwala, Aman Poddar, and Adithya Mathews.

Purpose of Fundraising

Neo San plans to use this capital to expand its waste management technologies across India. Dhwaj Bagrecha, Co-Founder of Neo San, stated, “We will use this funding to scale our technologies and support India’s waste-handling needs. Our aim is to build decentralized networks of people and machines to manage waste locally and efficiently, reducing emissions by over 90% compared to current methods.”

What Does Neo San Do?

Founded in 2022 by Dhwaj Bagrecha and Alistair D’rozario, Neo San specializes in energy-efficient waste management solutions. The startup is known for its innovative approaches to hazardous waste disposal and carbon reduction. Their flagship product, Neo-X, is a decentralized waste incinerator that uses clean energy to treat waste at its source, significantly reducing emissions and improving efficiency.

Serving Notable Clients

Neo San has a notable client base, including companies like Airtel, Microsoft, Accenture, Royal Enfield, Strides, and Parag Foods. They also collaborate with organizations like Tata Steel, Bangalore International Airport, Rotary International, and various state governments to integrate their solutions into operations. Neo San has safely disposed of over 100 tons of sanitary waste, offsetting over 200 tons of harmful emissions.

Launching an Advanced Modular Incinerator

Co-founder Alistair Sean D’Rozario announced that Neo San will launch an advanced modular incinerator early next quarter. This new incinerator can process one ton of toxic waste per day, enhancing waste management efficiency for sectors like pharmaceuticals, textiles, and chemicals. D’Rozario said, “This innovation will significantly improve the handling and incineration efficiency for key bulk waste generators. By providing on-site solutions, we offer a more efficient and eco-friendly approach to waste management.”

With the new funding, Neo San is well-positioned to expand its impact on waste management in India. Their focus on decentralized, clean energy solutions sets them apart in the cleantech industry, helping reduce emissions and improve waste disposal efficiency.

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