RecommerceX Pvt Ltd Company Profile

Background

RecommerceX Pvt Ltd, founded in February 2024, is a Noida-based company specializing in chemical recycling and sustainability. The company's mission is to revolutionize the recycling industry by establishing new standards and providing traceable, tax-compliant recovered materials. RecommerceX focuses on processing industrial waste to recover critical materials and valuable by-products, thereby contributing to environmental sustainability and promoting a circular economy.

Key Strategic Focus

RecommerceX aims to become India's largest technology-enabled company in the recycling and circularity space. The company specializes in processing industrial waste, including plastics, metals, and electronic waste, to recover critical materials such as lithium, nickel, cobalt, copper, lead, titanium, gold, and silver. By streamlining the supply chain and reducing waste, RecommerceX offers cost-effective, high-quality materials tailored to their clients' needs.

Financials and Funding

In September 2024, RecommerceX secured $3.6 million in seed funding, co-led by Accel India and Kae Capital. The funds are intended for hiring, developing the technology platform, investing in research and development for advanced material recovery, and scaling business operations in India and other geographies, including the UAE and the USA.

Technological Platform and Innovation

RecommerceX is developing advanced technologies to recycle and recover critical metals from end-of-life batteries and electronic waste. The company's innovative approach not only decarbonizes supply chains but also reduces reliance on virgin materials.

Leadership Team

Shobhit Goel: Co-Founder, Chief Executive Officer, and Board Member.

Ajay Gupta: Co-Founder, Chief Operating Officer, and Board Member.

Mohit Gulyani: Co-Founder, Chief Business Officer, and Board Member.

The founders are alumni of IIT-Delhi, ISB Hyderabad, and MDI, bringing nearly 50 years of combined experience in Fortune 500 and new-age companies.

Competitor Profile

Market Insights and Dynamics

India's waste management market is projected to grow to $17.30 billion by 2029, indicating significant opportunities for startups like RecommerceX.

Competitor Analysis

Attero: Processes 144,000 metric tonnes of e-waste annually at its Roorkee plant.

Duro Green: Specializes in wet waste management solutions.

Recykal: A cloud-based waste management startup that recently secured INR 110 crore in funding.

Strategic Collaborations and Partnerships

RecommerceX has established itself as a preferred buyer for large conglomerates like Godrej, Marico, and Tata Steel, thanks to its value engineering and competitive pricing.

Operational Insights

RecommerceX's innovative approach to recycling and material recovery positions it as a key player in the industry. By focusing on advanced R&D capabilities and material recovery technology, the company can provide customers with high-quality, traceable, and tax-compliant recovered materials.

Strategic Opportunities and Future Directions

RecommerceX plans to expand its operations to other geographies, including the UAE and the USA, over the next year. The company aims to set new standards and grades in the recycling industry, a space that has long been dominated by non-compliant and localized players.