SUMMARY
- RecommerceX raised $3.6 million to boost its chemical recycling tech and global expansion.
- Shobhit Goel’s RecommerceX aims to scale waste processing from 1,000 to 10,000 tonnes per month.
- The $3.6 million investment will help RecommerceX enhance recycling and enter new markets.
Accel and Kae Capital led a $3.6 million seed fundraising round for RecommerceX, a leading chemical recycling and sustainability enterprise. The funds will be used to upgrade the technology platform, fund improved material recovery R&D, and expand the company’s span in India as well as in the global markets.
Founder and CEO Shobhit Goel claims that no significant firms are in charge of these sectors which makes this market very disorganized. In an interview with Economic Times, Goel said, “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,”. He added, “We started with India because our head office is here, but we will expand to other geographies, including the UAE and the USA, over the next year.”
Shobhit Goel, Mohit Gulyani, and Ajay Gupta founded the firm in 2024 to process industrial waste to obtain valuable minerals and by-products that its clients can use as raw materials.
The company located in Noida primarily caters to medium-sized manufacturing organizations and engineering, procurement, and construction (EPC) firms as its clientele.
Currently, the firm processes 1000 tonnes of garbage per month, although it claims that it will be doing 10X from here as it targets to do around 10,000 metric tonnes per month. “Driven by factors like rising consumer eco-consciousness and the need to reduce industrial dependency on raw materials, supply chain decarbonization, traceability, and innovation have become top priorities for businesses,” Accel partner Prayank Swaroop stated in response to the investment.
