RecommerceX Raises $3.6 Million for Sustainable Chemical Recycling Platform
RecommerceX Secures Funding for Sustainable Innovation
RecommerceX, a chemical recycling and sustainability startup, has raised $3.6 million in seed funding led by Accel and Kae Capital. The funds will be directed towards expanding their team, enhancing their technology platform, investing in research & development for advanced material recovery, and scaling their operations in India and beyond.
Transforming Industrial Waste Management
Founded in 2024 by Shobhit Goel, Mohit Gulyani, and Ajay Gupta, RecommerceX focuses on processing industrial waste to extract valuable by-products. Operating in the plastics, metals, and electronic waste sectors, the startup currently processes around 1,000 tonnes of waste per month with ambitions to scale up to 10,000 tonnes.
- Target Customers: Medium to large manufacturing companies and EPC firms
- Expansion Plans: Targeting UAE and USA markets within the next year
Shobhit Goel stated, "We are building a brand in this highly unorganised space, aiming to become the go-to entity for waste procurement and recovery." Accel partner Prayank Swaroop emphasized the importance of supply chain decarbonisation, noting that RecommerceX's innovative approach to waste recovery will be pivotal in promoting responsible resource management.
A Game Changer in Sustainability
RecommerceX’s commitment to transparency and innovation is set to transform industrial approaches to waste recovery. This funding round positions RecommerceX as a significant contributor to the global sustainability movement.
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.