India, Feb. 10 -- Cleantech startup PadCare has secured $3 Mn (INR 27.2 Cr) in a pre-Series A funding round led by Zerodha's investment arm Rainmatter. The funding round, which comprised a mix of equity and debt, also saw participation from 3one4 Capital, Brigade Group and PKRBCV Shroff Trust, alongside its existing investors Lavni Ventures and 3i Partners.

Founded in 2018 by Ajinkya Dhariya, PadCare has built a proprietary technology to safely collect and recycle used sanitary pads, a waste stream that typically ends up in landfills or incinerators.

The primary use of the capital will be to scale PadCare's recycling capacity by setting up additional processing plants. The startup plans to expand its existing facility in Bengaluru and e...