Deeptech startup Reneonix has raised Rs 1.70 crore in a pre-seed funding spherical led by Inflection Point Ventures, a Gurugram-based angel funding agency.

The spherical noticed participation from main establishments, angel buyers, and grant our bodies, together with the Division of Science and Know-how (Authorities of India), NSRCEL-IIM Bangalore, SustainTN, and ITEL Basis.

The startup will use the funds in direction of R&D with a concentrate on {hardware} innovation and materials science to advance business prototypes.

Reneonix, based in 2023 by Iwan Richard, Karthik Sankar, and Varun Pandithurai, is a Chennai-based startup constructing round supplies infrastructure for the packaging business, beginning with glass. It combines AI-led sorting, end-to-end traceability, and materials science to transform post-consumer waste into specification-grade round uncooked supplies at scale.

Mitesh Shah, co-founder, IPV, mentioned, “India’s transition to a round financial system would require greater than intent it’ll require infrastructure. Reneonix is constructing precisely that. Their deep-tech strategy combining AI-led sorting, materials science, and traceability creates measurable round outcomes for manufacturers and producers. We consider their execution-first mannequin positions them strongly to grow to be a vital infrastructure layer in India’s sustainable packaging ecosystem.”

Iwan Richard, Founder & CEO, Reneonix, mentioned, “We’re constructing Reneonix because the Deep tech infrastructure layer for round supplies within the packaging business, beginning with glass and increasing into different hard-to-recycle streams. Our imaginative and prescient is to make circularity measurable and scalable via AI-led sorting, end-to-end traceability, and materials science-driven worth creation. Partnering with Inflection Level Ventures has helped us sharpen our execution focus and speed up our go-to-market.”

Reneonix is backed by the Division of Science and Know-how, Startup India Seed Fund Scheme, and HDFC Financial institution Parivartan, and has been incubated at innovation ecosystems together with NSRCEL, IIM Bangalore, ITEL Basis, Anna Incubator, iTNT Hub, and Crescent Innovation and Incubation Council.

The worldwide round packaging market was valued at roughly $245 billion in 2024 and is projected to achieve practically $352 billion by 2030. In the meantime, the sustainable packaging market, valued at roughly $273 billion in 2023, is anticipated to develop to just about $ 448 billion by 2030.

In India, the general packaging business is estimated at $80-100 billion for FY 2024-25. The sustainable packaging phase alone is projected to achieve $10 billion in 2025, pushed by rising regulatory mandates, ESG adoption, recycled content material targets, and compliance-driven circularity.