PolyCycl’s long-standing commitment to plastic recycling moves to the commercial stage with the support of Rainmatter

After nearly a decade of research and design, PolyCycl, a Chandigarh-based deep-tech start-up working on chemical recycling solutions for hard-to-recycle plastics, is entering its commercial phase with the goal of solving one of the toughest sustainability problems: what to do with plastic that cannot be mechanically recycled.

Founded in 2016, the company has developed a fully continuous chemical recycling platform that converts low-quality, end-of-life plastics into liquid hydrocarbon oils. These oils can then be refined and reused as raw material by petrochemical companies to make new plastics, including food grade materials. The company recently received an undisclosed Series A investment from Rainmatter, Zerodha’s climate-focused investment arm, to accelerate industrial deployment of its technology.

PolyCycl’s origins lie in founder Amit Tandon’s early interest in clean technology, which began while he was working in the US semiconductor industry in the early 2000s. At the time, concepts like the circular economy were not mainstream, but the idea of ​​giving the carbon content of plastic a second life resonated, Tandon told Business Today.

Unlike traditional batch-based pyrolysis plants, which are typically small, difficult to scale, and focused on the fuel market, PolyCycl’s approach is designed for continuous operation and industrial scale. « The big petrochemical and oil and gas companies don’t approach technologies that don’t scale, » Tandon said. The company’s platform is designed to integrate with existing petrochemical value chains, enabling plastic-to-plastic recycling instead of recycling plastics into fuels that are ultimately burned.

The technology has been in development for over ten years and was validated through extended continuous operation in 2025 when PolyCycl’s Generation VI platform was launched. According to the company, a large part of the heavy engineering and scientific risk is behind us now. « Almost 90% of the technology and science have been done. What remains is building the business and the market, » Tandon stated and described the current phase as a turning point. PolyCycl works on a licensing model.

While the chemical recycling sector is still nascent in India, global momentum is picking up. Similar companies in Europe and the US have received strong valuations and listings. PolyCycl believes that regulations mandating recycled content in packaging and petrochemical products will further catalyze adoption.

Rainmatter’s investments will be used to support commercial deployments, expand design and implementation teams, and deepen partnerships with petrochemical and downstream manufacturing players. PolyCycl takes place on both a domestic and an international scale.

Abhinav Singh Negi, Head of Business and Investments at Rainmatter by Zerodha, said: « We want to support complex technologies that take time to build but have the potential to transform entire sectors. PolyCycl fits this philosophy with its deep engineering and long-term purpose. Platforms like this are essential to building a credible cycle at scale. Rainmatter’s focus on purposeful capital stood out to us for its depth of technical maturity. » and the technology’s potential for both domestic and international licensing, which will significantly expand the recycling of hard-to-recycle plastics.