Forum Syneriges leads Series C round for India’s Attero
Forum Synergies has led a $15 million Series C round of funding for Attero, India’s largest electronic asset management company.
Existing backers Draper Fisher Jurvetson, Granite Hill India Opportunity Ventures, Kalaari Capital also participated in the round. Attero previously raised $5.84 million in Series A funding in 2008 and an $8.3 million Series B round two years later. International Finance Corporation has also provided debt funding.
Attero offers various services to the electronics industry, including customized solutions for e-waste management, electronics asset recovery, data security and reverse logistics, as well as repair, refurbishment and retail services. It claims to be the only company in India to have established an offline-online collection channel for e-waste. Attero, which has 24 warehouses across 19 states, moves over one million pounds of material each month.
The fresh capital and support from Forum Synergies is intended to help the company expand globally.
"Attero is at a significant inflexion point of its growth. This funding round is indeed timely as it will certainly help us fast track our business goals and enable us to scale the company, expand geographically, grow our client base and help more businesses manage e-waste in the country and globally," Nitin Gupta, CEO of Attero, said in a statement.
Headquartered in Bangalore, Forum Synergies primarily invests in small and medium-sized enterprises and mid-market businesses across the engineering, healthcare, cleantech and information and communications technology sectors.
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