Rainmatter by Zerodha Invests in PolyCycl to Scale Chemical Recycling of Plastics
Bengaluru, January 20, 2026: PolyCycl, a Bengaluru-based deep-tech startup working on chemical recycling of waste plastics, has secured Series A funding from Rainmatter, the climate-focused investment arm of Zerodha. The investment will help PolyCycl scale its proprietary technology aimed at enabling plastic-to-plastic circularity, particularly for hard-to-recycle plastic waste.
PolyCycl has spent over a decade developing a fully continuous chemical recycling platform that converts low-grade plastics, including single-use polythene bags, into liquid hydrocarbon oils through a patented, cost-efficient process. These outputs are further purified using the company’s in-house systems and supplied to petrochemical and oil and gas companies, where they are used as feedstock to manufacture low-carbon products, including food-grade virgin plastics.
The Rainmatter investment is part of PolyCycl’s phased and fiscally disciplined capitalisation strategy, largely driven by founder funding and select strategic investors. It follows the rollout of PolyCycl’s Generation VI technology platform in 2025, which has undergone extended continuous operations and pre-qualification by major petrochemical companies. The platform has demonstrated Technology Readiness Level 7, indicating industrial-scale viability and readiness for wider deployment.
Commenting on the investment, Amit Tandon, Founder and CEO of PolyCycl, said chemical recycling requires deep engineering and long-term commitment. “Our priority has been to build robust technology that works reliably at industrial scale and integrates seamlessly into petrochemical value chains. Rainmatter’s support will help us move from proven technology to broader commercial adoption,” he said.
Nithin Kamath, Founder of Zerodha and Rainmatter, said addressing plastic waste requires sustained, long-term solutions. “The plastics end-of-life problem needs serious innovation. PolyCycl is tackling this challenge through technology, and we are excited to support their journey,” he said.
Abhinav Singh Negi, who leads business and investments at Rainmatter, said PolyCycl stood out for its engineering depth and long-term vision. “Technologies like this have the potential to reshape entire sectors. PolyCycl’s platform is well-positioned for both domestic deployment and global licensing, enabling credible circularity at scale,” he noted.
PolyCycl plans to use the funds to accelerate commercial deployments with industrial partners, strengthen engineering and operational teams, and support domestic and international scale-up and licensing. The company will also deepen collaboration with petrochemical and downstream manufacturing partners.
More details are available at http://www.polycycl.com.
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