RecommerceX raises $3.6 million in round led by Accel, Kae Capital
RecommerceX, a chemical recycling and sustainability startup, has raised $3.6 million in a funding round led by venture capital firm Accel and Kae Capital.
The funds will be used for expanding the team, developing its technology platform, investing in R&D for advanced material recovery, and scaling business operations in India and other international markets.
According to founder and chief executive Shobhit Goel, this space is highly unorganised, with no major players managing these categories.
«We are building a brand in this space, aiming to be the go-to entity that can procure waste, segregate it, recover valuable components chemically, and supply the recycled output for use as raw materials,” Goel told ET in an interaction.
Founded in 2024 by Shobhit Goel, Mohit Gulyani, and Ajay Gupta, the startup focuses on processing industrial waste to extract valuable materials and by-products that can be used as raw materials by its customers. It operates in multiple categories, including plastics, metals, and electronic waste.
“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,” said Goel.
The Noida-based startup targets medium to large manufacturing companies and engineering, procurement, and construction (EPC) firms as its primary customers.
The company is currently processing around 1,000 tonnes of waste per month. “In a year, we will be doing almost 10x from here. We target to do around 10,000 metric
