Greenwave Circularity Secures $31.5 Million Financing From Austria's OeEB

10 Sept 2026, 4:23 pm · 2d ago · 1 min read · YourStory

Amount

$31.5M

Lead

OeEB

Meerut-based circular economy startup Greenwave Circularity has secured $31.5 million in financing from OeEB, the Development Bank of Austria. Founded in 2024 as a joint venture between Coca-Cola franchise bottler Moon Beverage, Jainarain Fabtech, and CEO Devang Kumar, the company operates an integrated PET bottle recycling facility in Odisha. The fresh capital will be deployed to scale its European technology-driven circular solutions and formalize scrap value chains. Once operational, the solar-powered facility will convert post-consumer PET scrap into food-grade recycled resin, flakes, and preforms for FMCG players, creating over 1,000 formal jobs.