Glass waste mgmt co. Reneonix raises Rs.1.7 Cr led by IPV

Chennai-based deep-tech startup Reneonix has raised INR 1.7 crore in a pre-seed funding round led by Inflection Point Ventures (IPV). The round also saw participation from institutions, angel investors, and grant bodies such as the Department of Science and Technology (Government of India), NSRCEL-IIM Bangalore, SustainTN, and ITEL Foundation.Founded in 2023 by Iwan Richard, Karthik Sankar, Varun Pandithurai and Mohammad Mohiyeddin, Reneonix operates a full-stack, AI-led circular materials platform for glass that transforms waste into high-value, traceable raw materials for the packaging industry.The new funds will be used for research and development, with a focus on hardware innovation and material science to advance commercial prototypes.