Deeptech Start-Up Reneonix Raises ₹1.7 Cr Pre-Seed Round Led by Inflection Point Ventures

Deeptech start-up Reneonix has raised ₹1.70 crore in a pre-seed funding round led by Inflection Point Ventures.

The round also saw participation from institutions, angel investors, and grant bodies, including the Department of Science and Technology, 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.

Reneonix operates as an execution partner for brands and manufacturers, using SOP-led systems that can be replicated across cities through local material recovery and logistics partnerships.

Mitesh Shah, co-founder of 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 deeptech 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.”

The company’s AI-led, traceability-first framework enables unit- and batch-level tracking for quality assurance and regulatory compliance. By moving into high-value glass derivatives such as foam glass, Reneonix aims to unlock stronger monetisation potential. Backed by an integrated hardware, software, and operations stack, the company is currently in the pre-revenue stage and focused on product development and pilot deployments.

Reneonix was founded by Iwan Richard, founder and CEO, along with co-founders Karthik Sankar, COO; Varun Pandithurai, CTO; and Mohammad Mohiyeddin, CCO. The leadership team brings experience in operations, technology development, scaling, and partnerships across both enterprise and start-up environments. The company is working towards building scalable circular materials infrastructure for the packaging ecosystem.

Richard said, “We’re building Reneonix as the deeptech 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 helped us sharpen our execution focus and accelerate our go-to-market.”

Reneonix is also backed by the Department of Science and Technology, the Startup India Seed Fund Scheme, and HDFC Bank Parivartan, and has been incubated at innovation hubs including NSRCEL, IIM Bangalore, ITEL Foundation, Anna Incubator, iTNT Hub, and Crescent Innovation and Incubation Council.

The global circular packaging market was valued at approximately $245 billion in 2024 and is projected to reach nearly $352 billion by 2030. Meanwhile, the sustainable packaging market, valued at about $273 billion in 2023, is expected to grow to nearly $448 billion by 2030.

In India, the overall packaging industry is estimated at $80–100 billion for FY2024–25. The sustainable packaging segment alone is projected to reach $10 billion in 2025, driven by regulatory mandates, ESG adoption, recycled content targets, and compliance-driven circularity. Reneonix’s deeptech infrastructure model is expected to benefit from the growing demand for circular materials in India and globally.