DALLAS (PRWEB) April 22, 2021
Beyond Capital, an impact investment fund that invests in companies seeking solutions to improve the lives of people at the bottom of the economic pyramid in India and East Africa, is pleased to announce its recent investment in Hasiru Dala Innovations. Hasiru Dala Innovations is an early-stage company focused on livelihoods and entrepreneurship opportunities for wastepickers, through inclusive businesses that enable the circular economy and mitigate the environmental effects of waste.
Hasiru Dala Innovations was founded in 2015 by Shekar Prabhakar, Nalini Shekar, and Marwan Abubaker. The company employs a decentralized model to collect waste from households and bulk waste generators by empowering micro-entrepreneurs at the last-mile and ensuring responsible treatment of waste through upstream partnerships with local partners and global companies.
The company is helping to tackle a pervasive environmental and public health crisis in urban India. Approximately 377 million people generate about 62 million tons of municipal solid waste each year. Of that total, approximately 43 million tons is collected and 12 million tons is treated. There are 4 million independent waste pickers in India who collect, clean, and segregate recyclable waste and sell it further up the value chain in order to make a living.
Hasiru Dala Innovations enables economic justice for wastepickers through a variety of initiatives, including a partnership with Bangalore’s municipal corporation. Hasiru Dala Innovations also operates a round-the-clock manned customer helpline during business hours, providing reliability and consistency of service. The company is working with more than 36,000 residential households, has 420+ unique clients, and has impacted 350+ wastepickers and micro-entrepreneurs. The company’s sister organization is a nonprofit dedicated to social justice and policy advocacy, placing Hasiru Dala Innovations in a unique position to usher in best practices for solid waste management throughout the country.
“Through its important work, Hasiru Dala Innovations is poised to play a critical role in not only helping micro-entrepreneurs build their livelihoods throughout urban India, but also helping CPG clients recover and recycle plastic waste generated in the ecosystem,” noted Beyond Capital Co-Founder and CEO Eva Yazhari. “This impactful company is committed to meeting the United Nations Sustainable Development Goals, including responsible consumption and production, sustainable cities and communities, and decent work and economic growth. We are excited to partner with Hasiru Dala Innovations in this journey and are impressed by the resilience and agility of the business.”
This investment, which is being matched by Beyond Capital co-investing partner the Eckenstein-Geigy-Stiftung Foundation, will allow Hasiru Dala Innovations to further its reach, including advancements in the company’s operational and marketing efforts.
“We are passionate proponents of the need to move from a linear economy to a circular economy model with consumers, producers, and waste management providers doing their utmost to accelerate the transition,” said Shekar Prabhakar, CEO, Hasiru Dala Innovations. “Our vision of integrating this generation of wastepickers and microentrepreneurs into the mainstream circular economy and enabling its accelerated adoption by consumers and producers is greatly enhanced by this investment led by Beyond Capital.”
ABOUT HASIRU DALA INNOVATIONS
Hasiru Dala Innovations Private Limited is a for-purpose, not-for-loss business that is focused on creating better livelihoods and entrepreneurship opportunities for wastepickers through inclusive businesses that enable the circular economy. The company enables economic justice for the community that it partners and works with – wastepickers.
Please visit https://hasirudalainnovations.com/ for more information.
ABOUT BEYOND CAPITAL
Beyond Capital is an impact investment fund that invests in for-profit early-stage companies throughout East Africa and India. The fund invests in businesses that are focused on greater access to health care, sanitation, and energy, as well as food security and financial inclusion, which can increase the quality of life and standard of living for consumers living at the bottom of the economic pyramid. Though the fund seeks market-rate financial returns, Beyond Capital is structured as a nonprofit, which permits the organization to emphasize fidelity to its social mission alongside its financial mandate.
Please visit http://www.beyondcapitalfund.org for more information.