Gujarat-based startup Ricron Panels, having expertise in plastic waste reusing, has achieved an undisclosed funding in Series A funding round directed by Boon Sustainable Technologies.

This funding is set to support the organization’s advertising and appropriation endeavors as it intends to extend its presence and operations across India.

Rahul Chaudhary, the Co-founder and Director Ricron Panels, featured the organization’s main goal to supplant conventional construction development materials like compressed wood, plywood, concrete sheets, and steel with their carbon-negative alternative options.

Expressing to the company’s goals, Chaudhary says, “At Ricron, we focus on extending the lifecycle of materials, making them recyclable and promoting circularity in the ecosystem”.

“We currently operate in all tier-I cities and plan to build strong branding, product development and market access to over 100 cities. Our primary focus remains on the construction sector, collaborating with companies like L&T, Tata Projects, and DLF throughout the project lifecycle.”, Chaudhary added.

Further he emphasized, “With the growing retail footprint, there’s a strong opportunity to replace non-recyclable materials with our sustainable alternatives. We’re also targeting cold storage and transportation sectors to reduce the economic and environmental impact of traditional materials.”

As India’s plastic waste reusing segment is projected to hit 23.7 million tons by 2032, Ricron Panels is intending to build its creation limit.

The company utilize propitiatory innovation that permits us to change over the waste into types of sheets that are utilized as a construction material. This includes planning items for sturdiness, reuse, and recyclability, consequently limiting waste and ecological effect. Their activities are intended to set new norms in manageability, advancement, and productivity.