ITEL Foundation
Chennai, Tamil Nadu, India
Overview
ITEL Foundation is a Section 8 not-for-profit that is committed to driving India towards becoming a global leader in technology.
- Total investments
- 1
- Lead investments
- 0
- Investments · 12mo
- 1
- Active investors
- 0
Investment portfolio
- Reneonix
Participated · Seed · Feb 2026
Founded in 2023 by Iwan Richard, Karthik Sankar, Varun Pandithurai and Mohammad Mohiyeddin, Reneonix provides an end-to-end platform that collects, sorts, processes and transports post-consumer glass while offering detailed reporting so brands can plug circular raw materials into their supply chains. The company’s initial focus is on building hardware and material-science innovations that turn waste glass into reusable inputs. Beyond standard cullet, the team is developing higher-margin derivatives such as foam glass to expand monetisation opportunities. Funds are being channelled into R&D to advance commercial prototypes and pilot deployments. Reneonix is currently pre-revenue and is running pilots with prospective customers. The company positions itself as critical infrastructure that helps packaging manufacturers meet sustainability targets and circular-economy mandates.
Team
No current team members are available.