RecommerceX, a chemical recycling and sustainability startup, has raised $3.6 million in a seed funding round led by Accel and Kae Capital. The investment will be utilized to expand the team, enhance its technology platform, boost R&D for advanced material recovery, and scale operations in India and other international markets. Co-founded in 2024 by Shobhit Goel, Mohit Gulyani, and Ajay Gupta, RecommerceX aims to organize the largely fragmented waste management sector by chemically recovering valuable components from industrial waste, including plastics, metals, and electronic waste.
Founder and CEO Shobhit Goel highlighted that RecommerceX aims to become a leading brand in the waste management industry by efficiently procuring waste, segregating it, and supplying the recycled output as raw materials to customers. The Noida-based startup is currently processing around 1,000 tonnes of waste per month, with plans to scale up to 10,000 metric tonnes per month within a year, targeting medium to large manufacturing companies and EPC firms. Goel also shared expansion plans into international markets such as the UAE and the USA in the near future.
Prayank Swaroop, partner at Accel, emphasized that factors like increased eco-consciousness and the need for supply chain decarbonization are driving innovation in industrial waste recovery. Abhishek Srivastava, general partner at Kae Capital, noted that RecommerceX’s technology and dedication to transparency position it as a key player in promoting responsible resource management globally. The startup aims to transform waste recovery processes, contributing significantly to the circular economy and sustainability efforts across industries.