Services
Scrap Recycling
Season 2 Products
| Brand | Scrap Uncle |
| Company Name | Swapeco Solutions Private limited |
| Founders | Mukul Chhabra |
Original Ask | Rs. 60 lakhs for 3% equity at valuation of 20 crores |
| Deal | 60 lakhs for 5% equity at valuation of Rs. 12 crores |
About the Product
Scrap Uncle is a digital platform that offers its customers doorstep services to dispose of their recyclables (Kabaad) without having to leave the comfort of their homes & in a way that is not only simple but also time and labour saving.
Scrap Uncle offers a solution that is not only responsible but also financially profitable in a world in which trash management and environmental pollution are becoming increasingly urgent challenges.
Using their app or the website, one can schedule a time for pick up and then the Company will collect scrap at one’s door and pay you money. This process also eliminates the bother that is associated with traditional recycling techniques.
Features
- Trained & verified Agents
- Weight measurement with 100% accuracy
- Provides Best Value
- Automates the recycling process
- Collects scrap from various sources
Founders & their story
Mukul Chhabra
Mukul’s maternal uncle was a scrap dealer and he used to visit him in his free time and considered it as Heavenly place. From there, he got fair idea about how the scrap sector works. When he moved to Delhi, he noticed that food delivery sector is getting organized, so he thought to organize the scrap sector & started researching and exploring this market.
This is how he established Scrap Uncle & he even moved the scrap collectors to his apartment to understand their operations.
About the company:
Scrap Uncle has developed a platform in August 2020 with the mission to make recycling more accessible, enables users to dispose of their recyclables (Kabaad) in a distinctive manner. It concentrates on the most common recyclables, such as paper, plastics, and metals, rather than toughened glass, wooden goods, textiles, ceramics, and automotive scrap.
This is of utmost importance currently, when everyone is seeking for methods to cut down on the amount of time they have to spend outside, since convenience has taken precedence over all other benefits.
They have completed 22,000 + pickups in 2 years from Delhi & sent 14 lakh + kgs of scrap for recycling. Their mission is to make Scrap Uncle, the India’s biggest recycling platform.
Scrap Uncle is recognized as the winner in the “Early-Stage Startups” category of the Mbillionth awards South Asia organized by Digital Empowerment Foundation (DEF) & Facebook.
Revenue:
Their Gross margin from customer to recycler is 45%.
Their monthly sales are Rs. 27.5 lakhs. In FY 20-21, the revenue was Rs. 35 lakhs which went up to 1.48 crores in FY 21-22. The projection sales for FY 22-23 will be around Rs. 6 crores.
Their sales split is 10% is from B2B, and rest is from B2C with customers number around 1950 per month. The customer acquisition cost is Rs. 110 with the retention rate of 40-50% in a 4 months cycle.
They are currently on No-Profit, No-Loss.
Founder’s Ask
Rs. 60 lakhs for 3% equity at valuation of 20 crores.
Offers:
Vineeta offered 30 lakhs for 5% equity at valuation of Rs. 6 crores & 30 lakhs debt @12% interest.
Anupam offered 60 lakhs for 8% equity at valuation of Rs. 7.5 crores which he later revised to 6% of equity.
Aman offered 60 lakhs for 10% equity at valuation of Rs. 6 crores which he later revised to 7% then to 5% of equity.
Final Deal
60 lakhs for 5% equity at valuation of Rs. 12 crores.
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