Aavishkaar picks up 21% stake in Pune based portable sanitation and waste management services company.
Aavishkaar India Micro Venture Capital Fund has invested in a Pune based portable toilet operator Saraplast Private Limited, which operates under the brand name ‘Shramik’ or ‘3S’. The funds would be used by Saraplast to expand its presence across India and add to its stock of portable toilets and waste management services. Aavishkaar has picked up 21% stake in the company for an undisclosed amount. Saraplast was founded in 1999 by a Rajeev Kher with the objective of providing sanitation services in areas that had a paucity of hygienic services.
The company leases out portable toilets to its clients and also provides onsite cleaning and waste evacuation services on a daily basis through its automated network of cleaning trucks. The largest demand for this service comes from the construction and infrastructure industry followed by the tourism corporations, municipal councils, corporate houses, religious establishments and large event organisers. Shramik continues to serve several of the mega infrastructure projects, private , government and semi government corporations in India.