Pune-based Kam-Avida Enviro Engineers Pvt Ltd (Kam-Avida), a manufacturer of waste management equipment, has announced that it has raised equity from Peepul Capital Fund II LLC (Peepul), one of the leading India-focussed private equity funds. Kam-Avida intends to use the funds to set up a state-of-the-art manufacturing, assembly facility which will help it ramp-up production capacity and to strengthen its sales and marketing presence. The company will also invest part of the capital to strengthen its balance sheet to foray into wet-lease services for large scale sewage cleaning and maintenance, said a press release.
Kam-Avida manufactures and offers a range of highly mechanised equipment for large- scale garbage, waste collection and transportation, sewage cleaning and sweeping, cleaning machines. It specialises in design and system integration of equipment that optimise garbage collection and disposal for domestic and commercial waste.
Manohar Krishna, MD, Kam-Avida, said, “Our business has been relatively working capital intensive, & lack of it was hampering our operations, curtailng our growth. We believe this infusion of equity from Peepul Capital, will not only enable us overcome this immediate hurdle, but also allow us to make long term investments to further improve our overall efficiency. The reconstituted board would give us the additional impetus to grow our business even further. ” Venkat Shankar, Investment Director, Peepul Capital Advisors Pvt Ltd said, “Waste Management is an exciting growth area for the future, given the confluence of public awareness, legislation and resource availability. We feel that the Kam Avida team led by Mr. Krishna is strongly placed to ride this opportunity and take a leadership position in this space.” Deepesh Garg, director, o3 Capital, said, “Kam-Avida has built a strong base for itself in the Waste Management sector and the infusion from Peepul Capital will help it in achieving a higher growth trajectory, both in India and Overseas.”
Source: Indian Express