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Blue Planet Garners INR 190 Crore from Nomura

Blue Planet essentially processes plastic waste, as well as organic waste, and renders waste collection services
BY BEx Bureau
Mar 26, 2020

Waste management firm, Blue Planet Environmental Solutions Pte Ltd has recently accumulated INR 190 crore funding from Asian financial services group, Nomura.

"The investment will help Blue Planet expand its products and services, and provide solutions for sustainable waste management," Madhujeet Chimni, co-founder at Blue Planet, said in an interview with VC Circle.

As per the company's statement, Asia is estimated to account for half of the globes bourgeoisie consumption by the cessation of 2030 and handling solid waste products like organic waste and plastic is going to become the main problem.

"The company aims to eliminate waste from business activities, downstream consumption, and waste handling processes," Chimni added.

"Environmental, social and governance (ESG) opportunities have been a key focus area for Nomura," Aadit Seshasayee, Head of the loans and principal investments area, Asia ex-Japan at Nomura, said in an interview with the cited media agency.

"Blue Planets technologies and offerings make it a frontrunner in achieving the zero waste to landfill vision," Seshasayee added.

Chimni, Prashant Singh and Bharadwaj Chivukula established Blue Planet in 2017. The company has several offices throughout the globe, including Malaysia, the United Kingdom, Vietnam, and India. It processes plastic waste, as well as organic waste, and renders waste collection services. In 2018, it raised money from Neev Fund, which is financially backed by the UKs Department for International Development and State Bank of India.

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