Hasiru Dala Innovations (HDI), a for-purpose enterprise committed to sustainable waste management and the circular economy, has raised ₹6 crore in a pre-Series A funding round led by Rainmatter Fintech Investments.
The round also saw participation from Next Bharat Ventures IFSC, a Suzuki-backed alternative investment firm, making its first direct portfolio investment.
The funds raised will be used to accelerate its growth in key areas, including scaling its plastics circularity business to increase recycling capacity and operational efficiency. It will also support the expansion of its Bio-gas plant through its joint venture with Carbon Masters, reinforcing its commitment to sustainable waste-to-energy solutions.
Additionally, HDI will invest in strengthening its leadership by hiring key managerial talent and extending its operations beyond Bangalore, broadening its impact on circular economy initiatives and waste management solutions.
Shekar Prabhakar, CEO and Co-founder of Hasiru Dala Innovations said, “At Hasiru Dala Innovations, our mission has always been to create a world with no waste and no waste pickers—where those who have been traditionally marginalized are at the forefront of the circular economy. Through our work, we have empowered 29 waste picker entrepreneurs, provided predictable livelihoods to over 300 waste pickers and workers, and facilitated supplemental income opportunities totaling over 9,300 person-hours. Beyond livelihood opportunities, we are focused on driving systemic change, with over 40 informal waste sector suppliers now adopting fair trade practices. With marquee investors such as Rainmatter and Next Bharat Ventures backing us, we are confident of growing with deep impact.”
Nithin Kamat, CEO fo Zerodha and Rainmatter, said, “Hasiru Dala Innovations has built a unique, inclusive model that not only tackles waste management but also empowers waste pickers as key stakeholders in the circular economy. Their work in plastics circularity and bio-energy solutions is creating tangible environmental and social impact. At Rainmatter, we believe in supporting businesses that drive systemic change for a more sustainable future, and we are excited to be part of HDI’s next phase of growth as they scale their operations and expand beyond Bangalore.”
Vipul Nath Jindal, MD and CEO of Next Bharat Ventures said, “At Next Bharat Ventures, we are committed to backing Impact Entrepreneurs—founders who are driven by a deep-rooted intent to create lasting social change. Hasiru Dala Innovations is a testament to the power of mission-driven entrepreneurship—one that not only creates sustainable livelihoods but also builds resilient circular economy models at scale. Their approach to waste management, rooted in dignity and economic empowerment for waste pickers, aligns with our belief that transformative businesses emerge from deep, on-the-ground understanding of societal challenges. We are proud to support HDI as our fund’s first direct investment and look forward to seeing them expand their impact across geographies.”
Founded in 2015 by Nalini Shekar, Shekar Prabhakar and Marwan Abubaker, Hasiru Dala Innovations is a for-purpose, not-for-loss social enterprise that is focused on fostering entrepreneurship and creating better livelihoods for waste pickers through inclusive businesses that have an environmental impact.
HDI has been instrumental in driving sustainable waste management solutions, with a significant impact on the informal waste sector. With ongoing efforts, HDI to have diverted over 100,000 tons of municipal solid waste away from landfills, conserving approximately 1 million cubic meters of landfill space and mitigating 1,31,493 tCO2e greenhouse gas (GHG) emissions.
HDI is the world’s only multi-stream solid waste management company to be certified as a Fair Trade Guaranteed Enterprise by the World Fair Trade Organisation (WFTO). The company’s unique model integrates waste pickers and informal waste workers into the evolving circular economy, transforming them into Green Collar professionals and entrepreneurs.
