A Social enterprise AdMyBinn raises seed funding led by Harsh Vardhan Agarwal
Nov 02, 2022
New Delhi [India], November 2 (ANI/ATK): A Kolkata-based social enterprise, AdMyBinn, has recently secured seed funding at a valuation of Rs 7 crores from Harsh Vardhan Agarwal, Executive Director, Ori-Plast Ltd.
The funding will expedite the company's growth plans of expanding to new cities, railway stations, building teams, and technology to serve their notion to a more exhaustive extent for completing the chain of lifecycle waste management (Creating Infrastructure-Collection-Safe Disposal-Segregation-Recycling).
Founded as a passion project by Joy Pansari, and later joined by Ankit Agarwal, AdMyBinn works on a sustainable revenue generation model that aims towards creating an urban and sophisticated infrastructure to address the concerns of street littering.
The noble venture has also successfully made it to Shark Tank India Season 1, pitching its innovative business model to potential investors.
With a presence in over 5 cities: Kolkata, Jamshedpur, Siliguri, Puri, and Durgapur and 30+ corporate on board, naming a few--Berger Paints, Dollar Industries, Baazar Kolkata, Ramkrishna Forging, Balrampur Chini Mills, ILS Hospitals--GPT Group, UAL Industries, they have collected 10000 MT of street litter and aim to spread their helping hands by further installing 5000+ bins across India by March 2023. It is a revenue-generating project that goes beyond the profit margins to promote greater Welfare.
Talking about the platform, founder Joy Pansari says, "Today there are many conversations, debates, discussions, and initiatives to spread awareness about the proper disposal of everyday waste items, one eminent of which is the Clean India Mission. However, this needs to be synced with adherence to individual responsible behaviour and providing adequate litter bins on the streets. Therefore, we at AdMyBinn are reshaping the street littering play and encouraging the cause. They have
set up colour-coded litter bins (Adbins) across streets at principal and market areas."
AdMyBinn is a self-sustainable model that also takes care of the cleaning and maintenance of these adbins on a daily basis. The team leverages technology for efficient management of its entire operations.
Each Adbin comes with a QR Code, with daily scanning of each bin enabling real-time waste clearance monitoring and tracking. These Adbins have space for social awareness along with brand recognition space, which allows corporate houses to engage with the public at large.
This round of investment by Harsh reflects not only his confidence in AdMyBinn's business model but also his deep passion for bringing about change in this society.
AdMyBinn will also expand its expertise in waste management and processing. Today collected litter currently makes up 20 per cent of the total Municipal Solid Waste, which mostly forms part of landfills. The company wants to change this by creating innovative mechanisms of waste management and recycling.
AdMyBinn is redefining waste disposal with its fresh outlook and tech-enabled solutions, making it one of the start-ups to keep our eyes on.
This story has been provided by ATK. ANI will not be responsible in any way for the content in this article. (ANI/ATK)
