VCCircle

Delhi-based e-waste management company Attero Recycling Pvt. Ltd has landed an undisclosed amount of funding from Draper Fisher Jurvetson (DFJ) and NEA-IndoUS Ventures. Founded in 2007 by two brothers, Rohan Gupta and Nitin Gupta, the startup plans to set up an automated Waste Electrical and Electronic EquipmentWEEE processing plant on a large scale. The plant will process WEEE (Waste Electrical and Electronic Equipment) in an environmentally friendly manner and will have a recycling efficiency of 98%.Developed nations dump an estimated 500 million tonnes of e-waste yearly in emerging countries - and about 70 per cent of the waste ends up in China, making it the world's largest dumping ground for e-waste.

In India, Toxics Link, a Delhi-based non-governmental organisation, claims that India produces about 1.5 million tonnes of e-waste yearly. Some 70 per cent of the waste collected for recycling in New Delhi alone comes from developed nations. And as many MNCs are relocating their manufacturing plants to these two emerging giants, they will require recycling services from qualified e-waste recyclers.

DFJ has been on a deal overdrive since it set up shop in India in mid-last year. The firm has made 17 investments including the four unannounced ones in the last 2.5 years. The new four investments include Attero Recycling Pvt. Ltd, Catura Systems, an Hyderabad based online publishing company and a Bangalore based semi-conductor company. Jolly said they will make these announcements shortly.As the deal making is picking up pace, the firm has also added a Princpal to the existing team of three. DFJ has brought in Sachin Maheshwari from Opus Capital as a principal. The firm already has Sateesh Andra as a Venture Partner working out of Hyderabad.