Reneonix has raised ₹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, NSRCEL–IIM Bangalore, SustainTN, ITEL Foundation, along with other angel investors and grant-backed institutions.
The capital raised will be deployed toward research and development, with a strong focus on hardware innovation and material science. Reneonix plans to use the funding to advance its commercial prototypes and support pilot deployments as it works toward market readiness.
Founded in 2023 by Iwan Richard along with Karthik Sankar, Varun Pandithurai, and Mohammad Mohiyeddin, Reneonix is building a circular materials infrastructure for the packaging industry, beginning with glass waste.
The startup provides end-to-end services covering collection, sorting, processing, logistics, and reporting, enabling brands to integrate circular raw materials into their supply chains.
Currently in the pre-revenue stage, Reneonix is focused on pilot projects and product development. The company is also exploring high-value glass derivatives such as foam glass to improve future monetisation opportunities. Based in Chennai, the startup operates under a recycling infrastructure-as-a-service model and is supported by multiple incubation and ecosystem partners.
