Plastic waste recycler PolyCycl attracts Rs.26-Cr from Rainmatter

Bengaluru-based PolyCycl has raised INR 26 crore (about USD 2.8 million) in a Series A round from Zerodha’s investment arm Rainmatter.Founded by Amit Tandon in 2016, PolyCycl converts plastic waste into hydrocarbon oils that can be reused by companies to make fresh plastics and other materials. The startup intends to use the fresh capital to roll out commercial projects in partnership with industrial partners, strengthen its engineering and operations teams, and support long-term licensing across domestic and global markets.The funding will also support efforts to deepen engagement with petrochemical and downstream manufacturing partners.