“Plastic is a miraculous material created by a human but the problem today is not the plastic. The problem is the irresponsibility of the human who polluted the world with plastic. And all the damage which is already done in the form of pollution is not very difficult when every responsible citizen focus on it”- sadguru
Recycling activities in India are driven by market forces which are informal and illegal where they recycle the plastic with unscientific techniques which release high toxic carcinogens and pollute the atmosphere. Many workers in India are still dependent on this informal recycling sector for their living where they get paid with less than 200 Rs. Per day from the kabadiwala.
As there are no proper recycling Plants in India; A Hyderabad based startup Banyan Nation is incubated at T-Hub. Banyan Nation founded by two youngsters Mani Vajipey, Raj Madangopal from silicon valley who focused on building a sustainable business model in recycling plastic where it bought a solution for the plastic and waste management problem in India.
It integrated with all the informal recyclers( kabadiwala’s) they get the plastic from them and use spectrometers to segregate them accurately. This segregation is the most critical part as plastic contains different types of resins its should be separated systematically to avoid the contamination. Then after the process of separation, Plastic is recycled in a rudimentary manner by scientific techniques which create plastic pallets of high quality and are sold out.
The Banyan Smart IoT is a platform is where it maps all the recyclers in Hyderabad by tracking the data of waste coming out of the house and the information on collection and transportation of garbage. The Telangana state has signed MoUs with the Banyan nations to adopt effective and cost-efficient waste management platform across the state.
They use thermal and mechanical techniques to produce the high quality recycled plastic.
IIX (Impact Investment Exchange Asia) provided a platform for Banyan Nation to reach out the investors all around the world. Shujog, a nonprofit organization, helped in quantifying the real social impact of their company on the nation. KKR( Kohlberg Kravis Roberts) is a global investment firm which promotes the social entrepreneurs to come up with their ideas; It helped Banyan nation team in understanding the economic impact of waste management in India.
It has raised seed funding of 8000$ from Jaideep Khanna who is the co-founder of Artha Capital Management Inc.
They have integrated the supply chain and are tied to large brands by taking their product packaging wastage and recycling them, thereby giving them higher quality raw material to manufacture the products again. From the last two years of their operational activities, they have recycled over 3000 tons of plastic. It is also the winner of the Intel & DST Innovate for India Challenge 2.0, where it digitized the data by developing a zero-waste platform to automate urban recycling operations at all stages.
They are aiming to the change the way India is recycling and are making many forward steps for taking India to a cleaner country and contributing to the closed economy.
If you are interested to know more about this recycling startup, visit:http://banyannation.com/