21 Apr Ennovent’s Impact Investment Holding Makes Follow-On Investments in ERC Eye Care and Hasiru Dala Innovations
Impact Investment Holding (‘IIH’), an Austrian family-owned fund managed by Ennovent, made follow-on investments in ERC Eye Care and Hasiru Dala Innovations. Both the companies work in line with Ennovent and Impact Investment Holding’s commitment to creating sustainable impact and fair profits in low-income markets.
Impact Investment Holding aims to support impact-focused businesses scale by following ethical business principles. Since 2010, IIH has invested in early-stage enterprises that make a sustainable impact in low-income markets in India. In the last 11 years, IIH has invested EUR 1 million in six business ventures from the healthcare, education, energy, and waste sectors.
“IIH invests in for-profit ventures that yield social, economic, and environmental returns. We call it the triple bottom line – People, Planet, and Profit”, says Peter Scheuch, Founder and Managing Director, Ennovent, “Both ERC Eye Care and Hasiru Dala Innovations continue to grow while meeting this triple bottom line.”
Hasiru Dala Innovations (HDI) is a for-purpose company dedicated to creating reliable and sustainable livelihoods for wastepickers through innovative, inclusive businesses that enable the circular economy. It offers total waste management services for bulk waste generators, event waste management, composting and waste audits, and consulting services. The enterprise focuses on social impact through livelihood creation for waste pickers and climate change mitigation by diverting waste away from landfills and processing it usefully.
The follow-on investment for Hasiru Dala Innovations is geared towards supporting the company tide through the impacts of the global pandemic and sustain and grow the total waste management business in the residential sector, where HDI is the leader. With this round of support, HDI also plans to accelerate the growth of their plastic aggregation business, increasing the number of plastic waste streams from just PET.
ERC Eye Care revolutionises access to eye care in North East India through its tech-enabled omnichannel model. They provide quality eye care at affordable costs – with costs as low as Rs. 90/-. As the pandemic hit, the ERC Eye Care team adapted to the changes by introducing digital innovations to continue to keep up with its mission of helping people see better. The investment in ERC Eye Care is focused on helping them implement their digital initiatives at a faster pace to improve accessibility.