- Reneonix, a Chennai-based deep-tech startup, is building circular materials infrastructure for the packaging industry, beginning with glass recycling and reuse.
- The newly raised funds will be directed towards Research and Development, with a strong emphasis on hardware innovation and material science, aimed at advancing commercial prototypes.
- Reneonix delivers an end-to-end service model covering collection, sorting, processing, logistics, and reporting, ensuring that partners gain outcomes far beyond simple material supply.
- Inflection Point Ventures (IPV) has invested over INR 1200 crore across 280+ startups to date, including 18 investments in Q4 2025, reinforcing its position as one of India’s most active early-stage investors.
Chennai | February 26, 2026: Reneonix, a Chennai-based Deep Tech company, has raised ₹1.70 Crore in a Pre-seed round led by Inflection Point Ventures (IPV). The round also saw participation from leading institutions, angel investors, and grant bodies including the Department of Science and Technology (Government of India), NSRCEL-IIM Bangalore, SustainTN, and ITEL Foundation.
The funds will be deployed towards Research and Development, with a strong focus on hardware innovation and material science to advance commercial prototypes.
Company Vision and Model
- Reneonix is building circular materials infrastructure for the packaging industry, starting with glass.
- Offers end-to-end services spanning collection, sorting, processing, logistics, and reporting, ensuring outcomes that go beyond material supply.
- Operates as an execution partner for brands and manufacturers, with SOP-led systems replicable across cities via local material recovery and logistics partnerships.
- AI-first traceability framework enables unit and batch-level tracking for quality assurance and compliance.
- Moving into high-value glass derivatives such as foam-glass, unlocking stronger monetization potential.
- Backed by an integrated hardware, software, and operations stack, Reneonix is currently in the pre-revenue stage, focused on product development and pilot deployments.
Mitesh Shah, Co-founder, Inflection Point Ventures, said: “India’s transition to a circular economy will require more than intent – it will require infrastructure. Reneonix is building exactly that. Their deep-tech approach combining AI-led sorting, material science, and traceability creates measurable circular outcomes for brands and manufacturers. We believe their execution-first model positions them strongly to become a critical infrastructure layer in India’s sustainable packaging ecosystem.”
Founding Team
- Iwan Richard – Founder & CEO
- Karthik Sankar – Co-founder & COO
- Varun Pandithurai – Co-founder & CTO
- Mohammad Mohiyeddin – Co-founder & CCO
The leadership team brings expertise in operations, technology development, scaling, and partnerships, across both enterprise and startup environments.
Iwan Richard, Founder & CEO, Reneonix, said: “We’re building Reneonix as the deep-tech infrastructure layer for circular materials in the packaging industry, starting with glass and expanding into other hard-to-recycle streams. Our vision is to make circularity measurable and scalable through AI-led sorting, end-to-end traceability, and material science-driven value creation. Partnering with Inflection Point Ventures has sharpened our execution focus and accelerated our go-to-market.”
Backers and Ecosystem Support
Reneonix is supported by:
- Department of Science and Technology
- Startup India Seed Fund Scheme
- HDFC Bank Parivartan
Incubated at leading innovation ecosystems including:
- NSRCEL, IIM Bangalore
- ITEL Foundation
- Anna Incubator
- iTNT Hub
- Crescent Innovation and Incubation Council
Market Opportunity
- Global circular packaging market: Valued at USD 245 billion in 2024, projected to reach USD 352 billion by 2030.
- Global sustainable packaging market: Valued at USD 273 billion in 2023, expected to grow to USD 448 billion by 2030.
- India’s packaging industry: Estimated at USD 80–100 billion for FY 2024–25.
- India’s sustainable packaging segment: Projected to reach USD 10 billion in 2025, driven by regulatory mandates, ESG adoption, recycled content targets, and compliance-driven circularity.
Reneonix’s deep-tech infrastructure model is well-positioned to grow rapidly with rising demand for circular materials in India and globally.
About Reneonix
Founded in 2023, Reneonix is a Chennai-based deep-tech company building circular materials infrastructure for the packaging industry, starting with glass. It combines AI-led sorting, end-to-end traceability, and material science to convert post-consumer waste into specification-grade circular raw materials at scale.
🌐 More details: www.reneonix.com
About Inflection Point Ventures (IPV)
Inflection Point Ventures (IPV) is one of India’s largest angel investing platforms with 24,000+ CXOs, HNIs, and professionals investing in startups.
- Has invested ₹1200+ crore across 280+ startups to date.
- Invested in 18 startups in Q4 2025 alone.
- Launched a $50 Mn CAT 2 VC fund, Physis Capital, to invest in Pre-Series A to Series B growth-stage startups.
🌐 More details: www.ipventures.in
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