Accel and Kae Capital have led a $3.6 million preliminary funding round for RecommerceX, a chemical recycling and sustainability startup.
The funds will be allocated to the following objectives: the expansion of the team, the advancement of the technology platform, the investment in research and development for advanced material recovery, and the expansion of business operations in India and other international markets.
The startup concentrates on the extraction of valuable materials and by-products from industrial waste, which can be used as raw materials by its consumers. It operates in a variety of categories, such as electronic debris, metals, and plastics.
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The primary customers of the Noida-based venture are medium to large manufacturing companies and engineering, procurement, and construction (EPC) firms.
Shobhit Goel, founder, RecommerceX, said: “We started with India because our head office is here, but we will definitely expand to other geographies, including the UAE and the USA, over the next year,”
About RecommerceX
Founded in 2024 by Shobhit Goel, Mohit Gulyani, and Ajay Gupta, RecommerceX is on a mission to build India’s largest technology-enabled company in recycling and circularity space.
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