Internet Innovations: RecommerceX Secures Funding for Industrial Waste Solutions
Funding Secured to Drive Recycling Innovations
RecommerceX, a promising startup focused on recycling industrial waste, has successfully raised $3.6 Mn in a seed funding round co-led by Accel and Kae Capital. This financial infusion will allow RecommerceX to enhance its technology platform, prioritize research and development efforts for advanced material recovery, and expand its operations beyond India.
Strategic Use of Funds
- Hiring New Talent: The funds will be utilized for recruiting skilled individuals to bolster the team.
- Technology Development: Focus will be on advancing their technology platform.
- Research and Development: Investment in R&D to innovate new methods of material recovery.
- Business Expansion: Plans to scale operations to multiple geographic regions.
Founded by Shobhit Goel, Mohit Gulyani, and Ajay Gupta in February this year, RecommerceX is committed to processing industrial waste to recover critical materials and useful by-products. This initiative is essential for sustainable practices in today’s industrial sector, contributing positively to the environment.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.