PolyCycl Secures Rainmatter Investment to Scale Chemical Plastic Recycling
PolyCycl has secured a Series A investment from Rainmatter by Zerodha to accelerate the deployment of its chemical recycling platform. This funding will enable PolyCycl to scale its patented technology, which converts low-grade plastic waste, including single-use bags, into liquid hydrocarbon oils for use as feedstock in producing low-carbon and food-grade virgin plastics. The investment aims to strengthen PolyCycl's operational capabilities, foster partnerships with industrial and petrochemical companies, and support wider deployment of its proven Generation VI technology, moving towards a circular petrochemical economy.
PolyCycl has successfully closed a Series A investment round with Rainmatter by Zerodha, earmarking the funds for significantly upscaling its advanced chemical recycling technology. The company's patented platform is designed to convert challenging plastic waste, such as single-use polythene bags, into valuable liquid hydrocarbon oils. These oils serve as a crucial feedstock for oil, gas, and petrochemical companies, facilitating the production of new, low-carbon materials, including food-grade virgin plastics, thus promoting a circular economy.The investment will be strategically deployed to fast-track PolyCycl’s technology with industrial partners and forge collaborations with petrochemical and downstream manufacturing entities. Additionally, it will bolster PolyCycl’s engineering and operational capabilities, laying the groundwork for scalable deployments and long-term licensing initiatives through dedicated execution teams. This capital injection follows the successful launch of PolyCycl’s Generation VI technology platform last year, which has demonstrated technical maturity at Technology Readiness Level 7, validated through continuous operations and product pre-qualification by major petrochemical firms.Leaders from both PolyCycl and Rainmatter emphasized the critical need for deep-tech solutions in addressing plastic waste. Amit Tandon, PolyCycl's CEO, highlighted the technology's industrial scalability and integration into circular petrochemical chains. Nithin Kamath of Zerodha and Rainmatter reiterated their commitment to backing long-term solutions for environmental challenges. Abhinav Singh Negi of Rainmatter further underlined their philosophy of supporting complex technologies with the potential to reshape entire sectors, praising PolyCycl's engineering-first approach and the promise of its technology for expanding hard-to-recycle plastic recycling globally. This initiative aligns with broader industry efforts, as seen with SK Chemicals' joint venture with Kelinle and Borealis' strategic investment in BlueAlp, all working towards enhancing plastic waste valorization into feedstock.
