Inflection Point Ventures backs circular materials startup for packaging industry
Chennai-based deeptech startup Reneonix has raised Rs 1.7 crore in a pre-seed funding round led by Inflection Point Ventures. The round also saw participation from the Department of Science and Technology (Government of India), NSRCEL–IIM Bangalore, SustainTN, ITEL Foundation, and multiple angel investors and grant bodies. The funding highlights growing investor interest in circular economy infrastructure and sustainable material innovation.
Capital to accelerate hardware innovation and material science research
The fresh capital will be deployed toward research and development, with a focus on advancing hardware innovation and material science capabilities. Reneonix plans to use the funds to refine its commercial prototypes and strengthen its infrastructure for circular material processing. The company aims to build scalable solutions enabling packaging manufacturers to adopt recycled and sustainable raw materials.
Founders building circular materials infrastructure starting with glass
Founded in 2023 by Iwan Richard, Karthik Sankar, Varun Pandithurai, and Mohammad Mohiyeddin, Reneonix is developing circular materials infrastructure for the packaging sector, beginning with glass recycling and reuse systems. The startup offers end-to-end services including material collection, sorting, processing, logistics, and reporting. Its platform enables brands and manufacturers to integrate circular raw materials into their supply chains while improving sustainability compliance.
Focus on pilot deployments and development of high-value material derivatives
Currently in the pre-revenue stage, Reneonix is focused on pilot deployments and product development to validate its technology and business model. The startup is also developing high-value glass derivatives such as foam glass to improve long-term monetisation potential. With backing from Inflection Point Ventures, which has invested over Rs 1,200 crore across more than 280 startups, Reneonix aims to strengthen India’s circular materials ecosystem.
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