IFC To Invest Upto $5 Mn In Attero Recycling
IFC will invest upto $5 Mn in 
Attero Recycling Private Limited.
The company plans to use the funds to expand its recycling capacity and to invest in sales and marketing activities.
Earlier this week, Attero raised Rs.15 Cr from Granite Hill India along with other existing investors IndoUS Venture Partners and Draper Fisher Jurveston. As part of that transaction, Sameet S. Mehta, will join the Board of Attero as a Director on behalf of Granite Hill.
Transaction Reference: IFC
Established in 2008, Attero Recycling is an environmentally conscious end-to-end e-waste management solution provider in India.
They have technical collaboration with a US company for material separation and have also developed an indigenous metallurgical process to extract metals.
The company's clients include Wipro, HCL, Tata Tele Services, and Google among others.
It received Series A funding in 2008 when IndoUS Venture Partners and Draper Fisher Jurveston jointly invested $6.3 Mn which was used to set-up an e-waste recycling plant of more than 1 lakh sqft at Roorkee.
In the same space, Kam- Avida Enviro Engineers had raised funds from Peepul Capital.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 05/08/10 | Attero Recycling - Granite Hill, IndoUS Venture, Draper Fisher | Venture Capital | Granite Hill India Opportunities Fund | - |
| 05/08/10 | Attero Recycling - IFC | Venture Capital | International Finance Corporation | - |
| 23/05/08 | Attero Recycling - IndoUS Capital, Draper Fisher | Private Equity | IndoUS Capital Advisors Private Limited (NEA-IndoUS Ventures) | - |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 06/02/12 | M&A | Looking For | Wind Power Business | - | Planned |
| 01/02/12 | Private Equity | Looking For | Trishe Energy Private Limited | - | Planned |
| 31/01/12 | M&A | Gussing Renewable Energy GmbH | G P Green Energy Systems Private Limited | - | Completed |
| 27/01/12 | Private Equity | Zephyr Peacock India | Flareum Solar Technologies Private Limited (Formerly Gadhia Solar Energy Systems Private Limited) | 10.04 | Completed |
Fund |
||||
| Name | Corpus | Target Sector | Website | KeyContact |
|---|---|---|---|---|
| International Finance Corporation | Micro Finance Infrastructure Energy |
www.ifc.org | Anup Kumar Agarwal | |
Company |
||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Attero Recycling Private Limited | Nitin Gupta Rohan Gupta |
26 - B, Neshvilla Road |
Kam-Avida Enviro Engineers Private Limited Cethar Limited (Formerly Known As Cethar Vessels Limited) |
www.attero.in |
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