Delhi-based reverse logistics startup ScrapUncle has raised Rs 3.7 crore in a pre-seed funding round co-led by Bestvantage and a family office of the promoters of Madhuram Papers, with participation from other angel investors, including Bharat Jaisinghani.
Prior to this, The startup raised Rs 60 lakh from CarDekho CEO Amit Jain during the Shark Tank India Season 2.
With this current round of funding, ScrapUncle plans to focus on enhancing its current operational scale, thus making a substantial contribution to the company’s overall revenue, ScrapUncle said in a press release.
Founded in 2019 by Mukul Chhabra, ScrapUncle offers an online website and application through which users can sell scrap materials for recycling at a pre-quoted price. The startup aims to tackle waste management problems by bringing efficiency, transparency, and eco-consciousness to the process of scrap recycling.