Dia Mirza-backed Without® Launches FOAK Recycling Plant in Pune

The launch follows the successful closure of a $1.9 million (approx. Rs 16.8 crore) seed funding round led by Rewilding Wealth, with participation from actor-environmentalist Dia Mirza, Spectrum Impact, ex-Unilever Packaging Lead Veena More, and Acko co-founder Vishwanath Ramarao. Dia Mirza joins Without® as a strategic advisor, investor, and advocate. The capital allows the company to focus on long-term systems innovation and scale its proprietary recycling technology across India and global B2B markets.

Without®’s patented chemo-mechanical process recovers high-grade polyolefins (VERDiFLX™) and terephthalic acid (VERDiTPA™) from complex post-consumer waste, including multi-layered plastics and soiled textiles. Unlike pyrolysis, the technology retains material value, consumes less energy, and is modularly scalable for urban and semi-urban deployment.

Founder Anish Malpani said, “This raise is about shifting paradigms—proving that ethical, traceable sustainability can be commercially viable and globally scalable.” Dia Mirza added, “Without® demonstrates systemic thinking and inclusive innovation, formalising waste labour while building globally relevant IP.”

The company plans to establish at least three commercial recycling hubs in India by FY27, pursue international pilots, and create a decentralised network of recycling centres capable of handling all types of post-consumer plastic and textile waste. Each facility will provide dignified employment for informal urban waste workers, ensuring real circularity includes people as well as materials.

Without®’s target customers include climate-conscious B2B brands across eyewear, fashion accessories, cosmetics packaging, and signage solutions. The company has processed over 765,000 pieces of complex waste between 2021 and 2024 and retails proof-of-concept products in major Indian cities. The new funding will support scaling pilot infrastructure, increasing production capacity, expanding talent in engineering and materials science, and deepening international B2B partnerships."