Indian cleantech startup EcoEx raised $4 million in a funding round led by Dovetail Global Fund PCC, Navbharat Investment Fund, and Narnolia Velox Fund, along with participation from other investors. Founded in 2020 by Nimit Aggarwal and Akshaya Rath, the Delhi-based company operates in the waste management space, focusing on collecting, trading waste commodities, and providing Extended Producer Responsibility (EPR) related services across categories including plastic, e-waste, tyres, batteries, and used oil.
The fresh capital will be deployed to upgrade technology infrastructure, expand operations across India, increase hiring, enhance existing solutions, and scale the company’s mobile application platform. Nimit Aggarwal, founder and director of EcoEx, emphasized their commitment to building traceable, accountable, and profitable solutions for industries with backing from both global and domestic investors. The company has set an ambitious target to cross $20 million in transaction value by FY26, reflecting strong growth projections in India’s expanding circular economy sector.
EcoEx has established itself as a significant player in India’s EPR compliance market, facilitating over one million metric tonnes of EPR credits for producers, importers, and brand owners who are responsible for collecting and recycling waste generated from their products or packaging. The platform works exclusively with recyclers certified by the Central Pollution Control Board (CPCB), ensuring regulatory compliance while creating transparent waste-to-value chains across multiple industrial categories.
The startup’s comprehensive platform includes an EPR credit exchange, compliance automation tools, and consultancy services designed to help industries meet stringent regulatory requirements imposed by India’s waste management policies. This integrated approach addresses the complex compliance needs of manufacturers while creating economic incentives for proper waste management throughout the supply chain. The platform’s digital infrastructure enables real-time monitoring and verification of waste processing activities.
EcoEx has launched a mobile application featuring real-time tracking capabilities, digital payment systems, and e-auction features for commodity trading, attracting over 3,000 recyclers and collectors across India. The app-based approach democratizes access to waste trading markets while providing transparency and efficiency in transactions between waste generators, collectors, and processors. This technology-driven model positions EcoEx at the intersection of environmental compliance and digital commerce.
The funding comes amid growing investor interest in India’s cleantech sector, with waste management startups attracting significant capital as regulatory frameworks tighten and environmental awareness increases. Last month, cleantech startup QuantE Energy Tech raised $500,000 from early-stage venture capital firm Trillion Dollar Venture, demonstrating sustained investor confidence in environmental technology solutions. EcoEx’s business model addresses both environmental sustainability and regulatory compliance needs, creating multiple revenue streams while supporting India’s circular economy objectives.
