Building Materials Company Marudhar Rocks International has raised Rs 150 crore ($18 million) from Bharat Value Fund (BVF) through a private placement round. Separately, RecommerceX, a chemical recycling and sustainability startup, has raised $3.6 million.
Marudhar Rocks raises $18m from Bharat Value Fund
Building materials company Marudhar Rocks International has raised Rs 150 crore ($18 million) from Bharat Value Fund (BVF), managed by Pantomath Capital Management, through a private placement round. BVF picked up a 6.5% stake valuing the company at about Rs 2,300 crore.
BVF, launched in August 2024 as the second series Category II AIF under the India Inflection Opportunity Trust (IIOT), is managed by Madhu Lunawat. With a targeted corpus of Rs 2,000 crores, the fund has successfully raised Rs 1,200 crores from 950 investors to date.
Founded in 2010, Marudhar Rocks claims to be the largest manufacturer of Premium Engineered Quartz Surfaces (Premium EQS) in India, with a production capacity of about 2 million square metres per annum.
RecommerceX snags $3.6m seed round
RecommerceX, a chemical recycling and sustainability startup, has raised $3.6 million in a seed funding round led by Accel and Kae Capital.
Founded in 2024 by Shobhit Goel, Mohit Gulyani and Ajay Gupta, RecommerceX specialises in processing industrial waste to recover critical materials and useful by-products that serve as raw materials for its customers.
The company plans to utilise the seed investment to bolster its team with top talent, develop its technology platform, invest in R&D for advanced material recovery, and scale its business operations in India and other geographies.
“Driven by factors like rising consumer eco-consciousness and the need to reduce industrial dependency on raw materials, supply chain decarbonisation, traceability, and innovation have become top priorities for businesses,” Prayank Swaroop, Partner at Accel, said.
