ReCircle, Naxatra Labs shine bright at YourStory's Pitch Fest in Delhi
Selected out of a pool of applications, eight promising startups presented their ideas in front of a jury in concise three-minute pitches.
For over 15 years, YourStory has been steadfast in its singular mission–to tell the stories of India's entrepreneurs. More than a storyteller, it's a curator of a thriving community where entrepreneurs gather to network, share deep insights and access invaluable resources that form the backbone of their ventures.
This year at YourStory's TechSparks 2023 in Delhi, startups, across the fields of deeptech, cleantech, and agritech presented their boldest ideas at Pitch Fest'23.
Participants presented their ideas in three-minute pitches, followed by an additional five minutes dedicated to addressing questions and concerns posed by an eminent jury of micro VCs.
The jury included the likes of Karun Arya, Co-founder and Chief Growth Officer, ; Nakul Saxena, President, ; Kalp Bhatt, MD, Incub8.co; Aastha Grover, Head, Startup India; Nitin Chandalia, MD & Partner, BCG; and Manoj Kumar Agarwal, Co-founder & Managing Partner, Seafund.
Meet the two startups that won the Pitch Fest.
ReCircle
Founded in 2016, Mumbai-based cleantech company focuses on resource recovery and a circular future by empowering consumers and brands to divert waste from landfills and oceans. It promotes recycling, reuse, and repurpose.
The startup works with individuals, brands, small businesses, producers, corporations, and importers, using data, analytics, and technology.
With more than 300 sites, over 300 waste collection partners and 45 processors, ReCircle says it is mobilising resources and driving change around the world.
“We’re thrilled to emerge as the winner and are grateful for the opportunity presented to us in terms of peer-to-peer learning, investor connections and overall to be recognised on such a significant platform. This achievement will only further fuel our ambitious growth and expansion strategy towards building a circular future driven by technology, where waste is looked at as a valuable resource," said Gurashish Singh Sahni, Co-Founder and COO, ReCircle.
The startup was chosen by both the jury and the audience.
Naxatra Labs
is an Ahmedabad-based company founded in 2020 by Abhilash Maurya, Arnav Biswas, and Piyush Verma. It specialises in creating axial flux motors for electric two- and three-wheelers, offering customised powertrain solutions.
The Axial Flux Technology for electric motors consists of two components: the Rotor and the Stator. The arrangement of the rotor and stator can lead to two possible motor configurations: Axial Flux and Radial Flux.
The technology is suitable for various applications, including HVACs, pumps, electric vehicles, consumer appliances, and industrial machinery. The startup has also tested prototypes for ferrite magnet-based motors for high-efficiency and low-cost applications.
These motors, built on proprietary software, are ideal for electric 2-wheelers, providing up to a 10% increase in average efficiency compared to existing radial flux motors.
"As we participated in Pitchfest, it gave us further exposure to our company and we had interactions with multiple investors and industry stakeholders. I'm grateful to Yourstory team for putting together such an event and showcasing startups to the world at such a large scale," said Abhilash Maurya, Co-founder and CEO, Naxatra Labs.
(The copy was updated to correct a factual error.)
Edited by Affirunisa Kankudti