With a Series A investment from Rainmatter by Zerodha, PolyCycl plans to deploy its technology for recycling low-grade plastic waste into feedstock for the production of low-carbon materials.
Designed to be cost-effective and fully continuous, PolyCycl’s patented chemical recycling technology platform turns plastic waste, including single-use polythene bags, into liquid hydrocarbon oils. These are supplied to oil, gas, and petrochemical companies to be used as feedstock in further material production, including food-grade virgin plastics.
PolyCycl intends to use Rainmatter’s investments to fast-track its chemical recycling technology with industrial partners and engage with petrochemical and downstream manufacturing partners.
Additionally, it aims to strengthen its engineering and operational capabilities, and to support scale-up and long-term licensing by building execution teams.
The investment comes after PolyCycl launched its Generation VI technology platform last year. Validated through extended continuous operations and product pre-qualification by petchem majors, the platform has reportedly demonstrated technical maturity at Technology Readiness Level 7 and readiness for scalable deployments.
“Chemical recycling is deep-tech by nature,” said Amit Tandon, founder and CEO of PolyCycl. “Our focus has been on building technology that can operate reliably at industrial scale and integrate into circular petrochemical chains. Rainmatter’s investment strengthens our ability to move from technical maturity to wider deployment.”
“One of the things we have constantly been chasing through Rainmatter is long-term solutions to problems we see around us,” continued Nithin Kamath, founder at Zerodha and Rainmatter. “Plastics and the end-of-life process around plastics need more teams working on it.
“PolyCycl is attempting to fix this plastics problem. We are excited to back them.”
Abhinav Singh Negi, Business and Investments, Rainmatter by Zerodha, added: “We want to back complex technologies that take time to build but have the potential to reshape entire sectors. PolyCycl fits this philosophy through its deep engineering focus and long-term intent.
“Platforms like this are essential to building credible circularity at scale. The collaboration brings together PolyCycl’s engineering-first approach with Rainmatter’s focus on intentional capital.
“What stood out for us was the depth of engineering maturity and the potential of the technology for both domestic and international licensing to meaningfully expand recycling of hard-to-recycle plastics.”
In other news, SK Chemicals recently announced its joint venture with Chinese plastics recycling specialist Kelinle. Together, the companies will build a Feedstock Innovation Center facility, where waste plastics will be processed into feedstock.
Borealis also revealed that it would acquire a 10% stake in BlueAlp and transfer its majority stake in Renasci. The move is anticipated to strengthen BlueAlp’s licensing proposition, drive technology innovation, and establish a ‘robust’ platform for high-quality feedstock production.
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