Hyderabad-based Waste Management Startup ‘Banyan Nation’ Wins Intel, DST Challenge 2.0
Hyderabad-based and T-Hub incubated waste management startup Banyan Nation emerged as the winner for the Intel & DST Innovate for India Challenge 2.0, for creating a zero-waste platform to streamline and automate urban recycling operations at every stage.
Banyan’s recycling initiatives with corporates are hugely impactful and contribute significantly to India’s
“Swachh Bharat Abhiyan” and “Make in India” vision.
The startup has received the cash of Rs 20 lakh as a prize money of the competition, which the startup plans to use to refine & improvize the platform more, and hire software talent, they are also looking to raise more funds.
The startup has envisaged a smart waste technology platform that allows cities to manage city waste and recycling operations through a combination of on-field sensors like biometric attendance devices, bin sensors, GPS truck routers, DRCC and landfill management toolkits and back-end visualization and analytic engines.
Founded by engineering graduates — Mani Vajipey and Raj Madangopal, in 2013 as a plastic recycling startup, Banyan Nation had earlier raised funding of $800,000 (about Rs 5.4 crore) from Artha Capital, in March 2016 as a part of the social enterprise technical assistance project run by the global PE firm KKR and Shujog — the not-for profit-initiative by Impact Investment Exchange (IIX).