Startup Originals Team
Chennai-based deeptech startup Reneonix has raised ₹1.7 crore in a pre-seed funding round led by angel network Inflection Point Ventures to accelerate R&D and prototype development. The round also saw participation from institutions including the Department of Science and Technology (Government of India), NSRCEL–IIM Bangalore, SustainTN, and ITEL Foundation.
What Reneonix Is Building
Founded in 2023 by Iwan Richard along with Karthik Sankar, Varun Pandithurai, and Mohammad Mohiyeddin, Reneonix aims to build circular materials infrastructure for the packaging industry, beginning with glass. The startup combines AI-led sorting, material science, and traceability to convert post-consumer waste into specification-grade circular raw materials for brands and manufacturers.
Use of Funds and Focus Areas
The newly raised funds will be deployed toward research and development focused on hardware innovation and material science to advance Reneonix’s commercial prototypes. The startup is currently in the pre-revenue stage and is focusing on pilot deployments and product development.
Vision for Circular Economy Impact
Reneonix is building infrastructure to enable scalable circularity in packaging by offering end-to-end services including collection, sorting, processing, logistics, and reporting. The goal is to help brands and manufacturers integrate circular raw materials into their supply chains while improving compliance and traceability.
Strategic Backing and Ecosystem Support
In addition to investment from Inflection Point Ventures, Reneonix has received backing and incubation from multiple government and ecosystem partners, positioning it to tap into India’s growing emphasis on sustainable materials and circular economy solutions.
