Wastelink, a food upcycling start-up, has secured a seed funding of Rs. 10 crores. The funding is led by Matterhorn Projects LLP, Indigram Labs Foundation, Sanjiv Rangrass, and other angel investors. Wastelink is incubated at the Indigram Labs Foundation. The capital raised will be used to expand Wastelink’s footprint across India and scale up their nutrition science and food waste supplier platform capability.
Led by entrepreneurs Saket Dave and Krishnan Kasturirangan, Wastelink is building build a sustainable food-to-feed ecosystem for the country. Through state-of-the-art processing technology, the startup transforms food waste into high energy ingredients for the animal feed industry, generating economic and environmental benefits.
A company note observed that 8% to 10% of global greenhouse gas emissions are associated with food waste. These statistics are released by the UN Environment Program (UNEP) 2021 Report. As per the Food and Agriculture Organization 2021 report 40% of food produced in India gets wasted largely due to fragmented food production systems and supply chain.
Saket Dave, CEO of Wastelink said, “We are extremely excited to have raised our first-ever funding and the opportunities that come with it. The collective experience of our investors along with the capital will immensely benefit us as we chart our journey towards national expansion. We aspire to make a meaningful positive impact on society by upcycling 1 Million Metric Tons of food waste within 2-3 years.”
Commenting on the investment, Malvika Poddar, Director Matterhorn Projects LLP said, “Wastelink is unquestionably bringing momentum to the circular economy, which is the need of the hour. We are excited to partner with Saket and Krishnan who bring vast experience as well as a passion for working towards a global issue simultaneous to economic growth. The founders have a unique approach to penetrate the food waste supply chain and create monetary opportunities”.
Wastelink, a tech-enabled B2B food upcycling startup, strives to build sustainable food-to-feed ecosystem for the country. Keeping sustainability at the core, the team helps food manufacturers and retailers prevent food waste generation by transforming their surplus and rejects into nutritious animal feed. Founded in the year 2018, by engineers Saket Dave and Krishnan Kasturirangan, the team has an expertise in feed nutrition and technical processing and uses it to produce thousands of tons of high-energy feed ingredients trusted by the leading feed brands of India.
The Big Business of Turning Food Waste into Food, See SN’s interview with the founders here
