Attero to raise $50 million from PE investors.

Attero Recycling, an electronic-waste recycling company that aims to become a billion-dollar entity within three-four years, will raise $50-million (Rs. 295 crore recently) from private equity funds. A deal is likely to be sealed in this regard within a week.

The company refused to reveal further details of the deal, but said portion of the $50 million funding will come from debt instruments.

Attero, which started with a corpus of $6.3 million in 2008, also raised $8.3 million from International Finance Corporation, Granite Hill and its existing investors in 2010.
Expansion plans

The latest round of funding is likely to finance the company’s expansion plans.

Noida-based Attero had chalked out plans to go global last year and set up a plant, based on its innovative “disruptive” technology, in Mexico by January this year. However, this plan has been delayed and the Mexico plant is likely to start operations by November, Nitin Gupta, Chief Executive Officer and Co-Founder, said.

The next plant, in Ireland, is likely to come up by July 2015.


HBL