Venture Capital funds-backed Attero Recycling, an electronic waste recycling company, has appointed former Nasscom president Kiran Karnik to its board as an Independent Director. Karnik, who is the first independent director since the fim was founded in 2008, will help the company with its smooth functioning and corporate governance policies.
Kiran Karnik, who was president of Nasscom till 2008, has had a multi-faceted experience across media and the IT industry. In 2009, he was appointed Chairman of Satyam Computers by Government of India after Satyam founder B Ramalinga Raju confessed of financial irregularities. Prior to joining NASSCOM in 2001, Karnik was the Managing Director at Discovery Networks in India where he spearheaded the launch of Discovery Channel in South Asia in August 1995 and Animal Planet (a Discovery – BBC joint venture) in 1999. Karnik was awarded the Padma Shri in 2007.
"His presence on our board will add tremendous value to the company’s functioning. Mr Karnik is a stalwart in the Indian IT Industry and we will benefit from his rich experience and vast knowledge. The expansion of Attero’s Board of Directors will ensure that the company will continue to gain from the diversity of expertise and opinions," said Nitin Gupta, CEO, Attero Recycling.
Attero has a facility for integrated e-waste recycling at Roorkee, Uttrakhand with more than 200 clients which include Wipro, HCL, Tata Tele Services, and Google among others. The firm raised $6.3 million from venture capital firms IndoUS Venture Partners and Draper Fisher Jurvetson in Series A in 2008. It also raised $8.3 million in Series B funding from International Finance Corporation, Granite Hill Capital Ventures and existing investors in 2010.