Rescript, founded by Ashutosh and Narendra, is an eco-friendly venture that recycles waste paper into sustainable stationery, aiming to save trees and reduce environmental impact. They seek investment to expand their operations and promote sustainability in India.
In a world where paper consumption continues to rise, the need for sustainable alternatives has never been more pressing. Every year, over 400 million trees are cut down globally for paper production, leading to significant environmental degradation. In India alone, paper consumption is increasing by approximately 8% annually, despite the digital shift. This alarming trend has prompted entrepreneurs Ashutosh and Narendra to take action by founding Rescript, a company dedicated to creating eco-friendly stationery from recycled paper.
The statistics surrounding paper production are staggering. The process not only involves cutting down millions of trees but also consumes vast amounts of water—over 30 trillion liters annually, enough to meet Mumbai's water needs for 24 years. Furthermore, India generates over 7.2 million kilograms of waste paper each year, with low recycling rates due to inadequate infrastructure and public awareness.
Rescript aims to tackle these issues head-on. Founded in Bengaluru, the company specializes in producing 100% recycled stationery from waste paper sourced from large organizations and households. Their innovative approach reduces energy consumption by 77%, water usage by 50%, and carbon emissions by 37%. Since its inception in 2021, Rescript has recycled 500 tons of paper, saving approximately 9,000 trees in the process.
The founders envision a future where sustainability is not just an option but a norm. Their mission is to promote the recycling of paper and to change the way society views and utilizes paper products.
Ashutosh and Narendra, childhood friends from Bengaluru, have always been passionate about entrepreneurship. After completing their education, they explored various business ventures before deciding to focus on sustainability. The idea for Rescript emerged during a coffee conversation in October 2019, where they recognized the need for a sustainable stationery brand.
Initially, they started with a partnership firm named Banpai, focusing on distributing unique products like seed pencils. However, they soon realized the potential of recycled paper products, especially during the COVID-19 pandemic when paper usage surged in hospitals and schools. This led to the formal establishment of Rescript in 2021.
Rescript's products stand out in the market due to their unique production process. Unlike other brands that use recycled paper from captive forestry, Rescript utilizes waste paper, ensuring a more sustainable approach. Their paper is naturally off-white, free from bleaching chemicals, making it visually appealing and functional for various uses.
Currently, Rescript operates primarily in the B2B sector, with 90% of its business coming from corporate orders. Their clients include major companies like ICICI, PNB, and LIC Housing, all of which are increasingly focused on sustainability. Rescript also supplies to top schools, further expanding its reach.
Since its inception, Rescript has shown promising growth. In the fiscal year 2022-2023, they achieved sales of 1.4 crores, with projections of reaching 6 to 7 crores by the end of the current year. Their business model relies heavily on the school season, which accounts for a significant portion of their sales.
During their pitch on Shark Tank India, Ashutosh and Narendra sought an investment of 1 crore for a 3.33% equity stake in Rescript. They plan to use the funds to expand their presence in retail stores, increase distribution, and enhance their manufacturing capabilities.
Rescript is not just a business; it is a movement towards sustainability and environmental responsibility. By recycling waste paper into high-quality stationery, Ashutosh and Narendra are making a significant impact on the environment while promoting a culture of sustainability in India. As they continue to grow, their commitment to saving trees and reducing waste will inspire others to follow suit in the quest for a greener future.
