Swarnakaruna Princeton Rubber Industries Pvt Ltd, a tyre recycling company based in Visakhapatnam, Andhra Pradesh, has expanded its operations with support from India’s Venture Capital Fund for Scheduled Castes (VCF-SC), an initiative from the Ministry of Social Justice and Empowerment
Founded by Swarnalatha Nethipudi, a first-generation Scheduled Caste woman entrepreneur, the company operates an automated facility that processes end-of-life tyres into crumb rubber powder, ranging from 10 to 40 mesh, with a capacity of around 6,000 metric tonnes annually.
In 2023, the company received ₹50 million in venture capital funding through the VCF-SC programme, which helped establish its recycling infrastructure and secure additional financing from the Small Industries Development Bank of India (SIDBI), according to the Indian Ministry of Social Justice and Empowerment.
The ministry reported that the project recycled more than 200,000 waste tyres, while creating 15 direct jobs and generating assets worth around ₹80 million. The company also established supply partnerships with other companies, including Hincol and TVS Sundaram.
“With the support of the Venture Capital Fund for Scheduled Castes, our enterprise gained the financial backing to transform an environmental challenge into a sustainable business opportunity,” Nethipudi told the ministry. “Today, we are converting waste tyres into valuable industrial products, creating employment, promoting circular economy practices and contributing towards a cleaner and greener India.”
The ministry said the project demonstrates how targeted financial support can help entrepreneurs establish sustainable businesses while supporting India’s circular economy objectives.
Source: Ministry of Social Justice and Empowerment
