Bengaluru-based cleantech startup Neo San raises $1.5 million in funding

Bengaluru-based cleantech startup Neo San has raised $1.5 million in a seed funding round at a post-money valuation of $7.2 million.

The round was led by notable investors, including Ashish Kacholia, Apurva Damani, Mammen Kurien, Sandeep Telang, Vanshay Goenka, Siddhi M, Anirban Lahiri (an Indian pro-golfer), Aaradhana Jhunjhunwala, Aman Poddar, Adithya Mathews, and S. Chikkarangappa (an Indian pro-golfer).

Purpose of fundraising

Neo San plans to use this funding to scale its technologies across India.

“We will use this round of funding to scale our technologies across India and to enable larger systems to support the country’s waste-handling needs,” said Dhwaj Bagrecha, Co-Founder of Neo San.

“Currently, we’re building decentralized networks of people and machines that will allow our growing cities to better manage waste locally and efficiently, reducing the overall emissions from this process by over 90% compared with the current scenario," said Bagrecha.

What does Neo San do?

Founded in 2022 by Dhwaj Bagrecha and Alistair D'rozario, Neo San focuses on energy-efficient products and systems for waste management.

The startup is known for its innovative approaches to hazardous waste disposal and carbon reduction. It has developed a flagship product, Neo-X, a decentralized waste incinerator that uses clean energy to treat waste directly at its source, thus significantly reducing emissions and improving waste management efficiency.

Serving notable clients

Neo San claims to have a notable client base which includes companies like Airtel, Microsoft, Accenture, Royal Enfield, Strides, and Parag Foods.

The startup is also working with organizations like Tata Steel, Bangalore International Airport, Rotary International, and multiple state governments to integrate its solutions into their operations.

It also claims to have safely disposed of over 100 tons of sanitary waste, offsetting over 200 tons of harmful emissions.

Launching an advanced modular incinerator 

According to co-founder Alistair Sean D'Rozario, Neo San is set to launch an advanced modular incinerator early next quarter, which is capable of processing one ton of toxic waste per day.

"This innovation will significantly enhance the handling and incineration efficiency of key bulk waste generators in the pharmaceutical, textile, chemical, and other manufacturing sectors. By integrating this solution on-site, we provide a more efficient and eco-friendly approach to waste management," added Alistair Sean D'rozario.