Ecowrap is one such Indian company that is working towards a better and sustainable future. It is a waste management company that got started in 2017 by Angraj Swami. This company is a one-stop solution for waste tracking, collection, segregation, recycling, and up-cycling. Ecowrap has a socially acceptable, financially viable, and technically feasible model. They are not just helping humans but this company is a boon for our polluted environment. The startup’s primary focus is on waste segregation and providing a solid solution for waste tracking, collection, storage, recycling, up-cycling, etc. So let us get into this article to read the success story of this innovative company.
Ecowrap – Key Highlights
- Company Name – Ecowrap
- Founder – Angraj Swami
- Founding Year – Oct 13, 2020
- Company Type – Private
- Industry – Waste segregation, Waste management
- Company category – Company limited by shares
- Last Funding Type - Seed
- Headquarters – Jaipur, Rajasthan, India
- Number of employees – 50-60
- Website – www.ecowrap.in
Ecowrap – Founder and Team
Some of the key members of the Ecowrap’s team are as follows:
- Angraj Swami – Founder and CEO
- Ajay Buri – Co-founder and Head of Product Development & Operations
- Chandrakant Swami – Co-founder and Head of Reverse Supply Chain
- Manoj Babu – Co-founder and Head of Business
Ecowrap – Brand Name, Logo, and Tagline
- Brand Name – The company's brand name is 100% appropriate for the kind of service and business they are doing. It is easy to remember as well.
- Logo – The company's logo is in pretty green and black colour. The 3 blue lines in the logo are the representation of belief, depth, and stability and the 2 green lines represent environmental protection and ethics of growth. The company wants it to be the new flag for all the environmentalists.
- Tagline – Ecowrap’s tagline is – ‘Mera Desh, Zero Waste’.
Ecowrap – Business Model
The company has a technology-based, reverse supply chain model. The whole solution is done by the automation of algorithms derived through various analyses of data. Ecowrap also provides free training, doorstep waste collection service, IoT-enabled dustbins, etc. to promote waste segregation.
Ecowrap – Services
Some of the services provided by the company are as follows:
- Free Dustbins – Ecowrap is primarily focusing on waste segregation. This is why, they provide 4 ‘Eco Patra’ (Dustbins) that are IoT enabled, to the partners. These dustbins also share the real-time data and precise location of the bins.
- Waste Pickup – The company also collect wastes from various places like HORECA, schools, household, colleges, businesses, companies and commercial establishments. They send their pickup vehicles and provide incentives concerning collected waste.
- Waste Audit Report – Ecowrap also sends a Waste Audit Report to each of its partners, highlighting the positive environmental impact they have made by channelling the waste to the right source. Along with that, the company also provides waste segregation training to people.
Ecowrap – Growth
Some of the growth factors of the company are as follows:
- More than 5000 pickups vehicles.
- Over 2900 plus MT of waste got collected from the society.
- More than 5200 MT of GHG emissions were saved.
Ecowrap – Funding and Investors
Ecowrap has successfully raised 2 rounds of funding to date. Their latest funding was done from a Seed round. Details of the investment and investors of the company are mentioned below:
- Undisclosed Amount – Pre Seed Round, Jan 1, 2019
- Undisclosed Amount – Seed Round, Social Alpha, Jun 28, 2021
Ecowrap – Environmental Impact
The company is a great help to our environment. Some of the environmental impacts given by the company are as follows:
- 17.4 crores litres of water saved.
- More than 2900 MT tonnes of waste were collected.
- 14,500 trees were saved.
- More than 6,87,300 kWh of energy got saved.
- Reduced CO2 emission.
Ecowrap – Awards and Achievements
Ecowrap has won several awards and recognitions for its outstanding work in the field of sustainability. Some of them are as follows:
- Winner – Tata Institute of Social Science, 2019
- Winner – Youth Co-lab 2020 by United Nations, 2020
- Finalist – TTMM IIT Bombay, 2019
- Finalist – World Tourism Forum Lucerne Switzerland, 2019
- Finalist – Climate Launchpad, 2020
Ecowrap – Competitors
Competition is in every sector and Ecowrap being a new startup had to face this as well. Some of the top competitors of the company are as follows:
- Vermigold Ecotech Pvt. Ltd.
- Greenobin Recycling Pvt. Ltd.
- Waste Ventures India
- UPL Environment Engineers Ltd.
- VA Tech Wabag
- Vishuddhi Enviro Pvt. Ltd.
- SMS Envocare Ltd.
Ecowrap – Challenges Faced
Some of the challenges faced by the company are as follows:
- Lack of training – The current situation of waste management in India is questionable. Most people are not aware of this or they do not take enough interest. The availability of professional who is qualified in the waste management sector is also rare.
- Lack of strategic plans – In India, municipal authorities are responsible for waste collection. But the improper budget and corruption make it insufficient to cover the costs related to waste collection, segregation, storage, disposal, treatment, etc. The company faces huge problems while solving these issues.
- Absence of waste segregation – This is a huge problem for the company as it leads to viable loss of financial and non-financial processes. Once the waste gets mixed, the contamination level increases and it loses its monetary and natural properties as well.
- Competitors – Ecowrap is just a year old company and it already has quite a few competitors in the industry. Some of them are pretty old and they are doing well on several levels. It is one of the biggest challenges for Ecowrap to overshadow its competitors.
- No environment awareness – Most people do not care about the environment. They are ignorant when it comes to learning about waste management and sustainability. Hopefully, now the situation is changing in India and the youngsters are more aware of the adverse aspects of not respecting our nature and environment.
Ecowrap – Future Plans
Some of the upcoming plans of the company are as follows:
- The company is planning to own more vehicles for the smooth pickup of garbage from society.
- They are aiming to collect more than 3000 MT of waste by the end of FY 2023
- Ecowrap is looking to hire more people for the growth of its startup.
- The startup is focusing on saving at least 5000 MT of GHG emission by the end of FY 2023.
- They will expand their operations in other states as well.