Intellecap Impact Investment Network and Rianta Capital invest in Sampurn(e)arth Environmental Solutions

18th Aug 2015
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Intellecap Impact Investment Network (I3N) has invested Rs 10 million in Mumbai-based waste management company Sampurn(e)arth in syndication with Zurich-based family office Rianta Capital and Primarc Group Director Siddharth Pansari of ah! Ventures. The deal was led by I3N investors Ajay Dalmia and Nirmal Bhogilal.

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Co-founded by Debartha Banerjee, Jayanth Nataraju, and Ritvik Rao, Sampurn(e)arth provides end-to-end decentralized and customized waste management solutions such as dry waste collection and processing, biogas plant installation, composting, O&M and consulting services. It works closely with the non-profit waste picker organization Stree Mukti Sanghatana and actively incorporates waste pickers into the process, thereby up-skilling them and increasing incomes. Its clientele includes municipal bodies, corporate parks educational campuses and residential units.

Talking about the investment, Ajay Dalmia says,

The current method of dumping waste into landfills leads to several environmental and societal problems. This practice adversely affects the health of people and also fails to recognize the inherent value in the waste. Sampurn(e)arth is bringing in an effective decentralized asset light business model that is environmentally sustainable, generates employment and is profitable. This is an execution intensive model and we have full faith in the promoters’ passion for the cause and ability to deliver.

Intellecap has taken equity in Sampurn(e)arth demonstrating its long term commitment to portfolio companies. According to the investment firm, unhygienic roads, open sewers, disease-spreading insects – these are problems that affect us every day regardless of social or economic status. Sampurn(e)arth is one of the few companies that is closely tracking their social and environmental impact in addition to keeping an eye on the financial bottom-line.

Sharing the statistics on the scale of the problem in the waste management segment, Co-founder Jayanth Nataraju says,

In Mumbai alone, about 10,000 tonnes of waste is generated daily, so there is a huge opportunity for intervention. With initiation of the Swacch Bharat Abhiyan, there is an increased interest in our solutions and we are seeing tremendous support from stakeholders across the value chain. We are confident that with the guidance of investors on scaling the business, we will be able to move the needle on this vast challenge.

There have been recent investments in the waste management sector. Infuse Venture’s investment in Revive E-Waste; Aavishkaar’s investment in Nepra Resource Management and Ankur Capital’s investment in Bengaluru-based Daily Dump are some of investments recently happened in the sector. Indian Angel Network also announced funding into non-profit Saahas.

During March 2014, Infuse Ventures raises Rs 110 crores to support ventures across cleantech sector. In May this year, Aavishkaar invested around $2 million in the Gujarat-based cleantech firm Nepra Resource Management.

I3N investors include Nirmal Bhogilal, Chairman of Batliboi; Ajay Dalmia, Founder CEO of Drive Change; Nilesh Gandhi, advisor at Waaree Energies; Yogesh Chaudhary, Director at Jaipur Rugs; Ajay Parekh, Director at Pidilite; and Apoorva Patni, Director at Patni Healthcare.

“If waste is processed at source, it can not only give immense environmental benefit, but also economic benefit to the waste generators as well as municipal bodies. For example, the college cafeteria at TISS has a biogas plant set up by Sampurn(e)arth. The food waste from the cafeteria is fed into the biogas plant, which in turn produces about one cylinder of LPG gas daily for the cafeteria to run. This is a great incentive especially for small commercial and residential complexes. With CSR mandates kicking in, there is increasing interest from large corporates too,” concluded Nirmal.

I3N recently invested crowdfunding platform Ketto.org and positive journalism company TheBetterIndia.com, where Intellecap also took an equity stake.

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