Upaya Social Ventures Invests In Bintix, A Waste-Tech Pioneer Transforming Recycling Through Data and Innovation
Bintix becomes Upaya’s 42nd overall investment and 6th portfolio partner in the waste management sector.
Bangalore, India | December 19, 2024
Upaya Social Ventures is excited to announce its latest investment in Bintix, an innovative waste-tech company at the forefront of transforming India’s waste management sector. This marks a significant milestone as Bintix becomes Upaya's 42nd overall investment and its 6th in the waste management sector, further advancing Upaya’s mission to empower social enterprises that generate dignified jobs in underserved communities.
Headquartered in Hyderabad, Bintix is revolutionizing waste management through its data-driven, tech-enabled approach. By collecting and processing dry waste, including plastics, the company not only ensures meticulous recycling but also generates high-precision waste data insights. With operations spanning 40,000 homes across seven cities, Bintix has created a scalable, sustainable model that empowers waste workers while addressing one of the most pressing environmental challenges of our time.
Co-founders Roshan Miranda and Jayanarayan Kulathingal, inspired by a shared vision for sustainability and social impact, launched Bintix in 2018. Leveraging their extensive expertise in waste management, technology, and business operations, they have built a company that creates meaningful employment opportunities while tackling critical gaps in waste segregation and recycling. Speaking about the investment, Roshan and Jayanarayan shared:
"We're incredibly proud of the social impact we've made by upskilling waste workers, but our excitement reaches new heights with our first social impact collaboration with Upaya. This partnership is a powerful step forward in driving meaningful change in the waste management space—change that has often been difficult to achieve. Together, we're not just talking about transformation; we're making it happen."
Bintix is driving transformative social and environmental change by formalizing roles for waste workers, transitioning them to safer, value-added tasks like data cataloging, and increasing their incomes by 41%. Its innovative approach incentivizes households to segregate waste, fostering behavioral change, while also integrating low-value plastics into recycling chains. This not only diverts waste from landfills and water bodies but also enhances profitability for waste management partners, contributing to a more sustainable and inclusive circular economy.
“Roshan, Jayanarayan, and the Bintix team have approached the challenge of waste management from a unique perspective, developing an innovative solution that not only advances recycling but also upskills waste workers by transitioning them from traditional sorting to data-driven waste cataloging. This approach aligns seamlessly with Upaya’s mission of creating dignified jobs for underserved communities. We are thrilled to partner with Bintix to scale their impact, generating meaningful employment opportunities while addressing critical environmental challenges,” said AB Chakravarthy, CoCEO of Upaya.
With this funding, Bintix plans to scale its operations, enhance its technological capabilities, and deepen its impact. The company aims to improve waste recovery and sorting processes, promote widespread source segregation, and generate detailed insights on waste streams to foster informed decision-making in waste management. By expanding its reach, Bintix is well-positioned to lead the way in transforming India’s circular economy.
ABOUT UPAYA SOCIAL VENTURES:
Upaya Social Ventures is building a dignified economy by providing investment and support to early-stage businesses creating sustainable livelihoods for people living in the most extreme poverty.
Upaya’s award-winning impact-first model seeks out and supports oft-overlooked companies creating work that is safe, stable, inclusive, and rewarding—generating a transformative impact on families, communities, and economies.
Since its founding in 2011, Upaya’s portfolio companies have created over 44,000 dignified jobs across India. Please visit upayasv.org for more information.
MEDIA CONTACT:
Madlin D’silva
mdsilva@upayasv.org