Chennai-based deep tech startup Reneonix has successfully closed a pre-seed funding round worth Rs 1.7 crore, led by Inflection Point Ventures. The round also attracted support from notable bodies including the Department of Science and Technology (Government of India), NSRCEL IIMB Bangalore, SustainTN, ITEL Foundation, and a group of angel investors.
The raised capital will be directed toward hardware development and material science research, helping the company push its commercial prototypes closer to market readiness.
Founded in 2023 by Iwan Richard, Karthik Sankar, Varun Pandithurai, and Mohammad Mohiyeddin, Reneonix is on a mission to build circular materials infrastructure for the packaging sector, with glass as its starting point. The company provides end-to-end solutions covering collection, sorting, processing, logistics, and reporting, enabling brands and manufacturers to source circular raw materials more efficiently.
Currently in the pre-revenue stage, Reneonix is focused on pilot programs and product development. The startup is also exploring high-value glass by-products like foam glass as an additional revenue avenue going forward.
