Reneonix raises Rs 1.7 Cr in pre-seed round led by IPV

Chennai-based deep tech startup Reneonix has raised Rs 1.7 crore in a pre-seed funding round led by Inflection Point Ventures.

The round also saw participation from the Department of Science and Technology (Government of India), NSRCEL–IIM Bangalore, SustainTN, ITEL Foundation, and other angel investors and grant bodies. 

The proceeds will be used towards research and development, with a focus on hardware innovation and material science to advance its commercial prototypes.

Founded in 2023 by Iwan Richard along with Karthik Sankar, Varun Pandithurai and Mohammad Mohiyeddin, Reneonix is building circular materials infrastructure for the packaging industry, starting with glass. 

It offers end-to-end services including collection, sorting, processing, logistics and reporting, enabling brands and manufacturers to integrate circular raw materials into their supply chains.

The startup is currently in the pre-revenue stage and is focused on pilot deployments and product development. Reneonix is also working on high-value glass derivatives such as foam glass to improve monetisation.

Inflection Point Ventures has invested over Rs 1,200 crore across more than 280 startups to date and made 18 investments in Q4 2025.