Advertisement
What really powers the cloud? Behind every Google search, A...
A lot of what defines a home isn’t visible at handover. I...
Private equity has played a significant role in shaping Indi...
Luxury real estate is one of the most talked-about segments ...
Airports play a much bigger role than just enabling travel -...
BatX Energies has secured INR 105 crore in a Series A funding round led by IvyCap Ventures, with participation from existing investors including Zephyr Peacock, Mankind Pharma Family Office, Excel Industries Family Office, and JITO. The company plans to use the fresh capital to expand its battery recycling and refining capacity, strengthen research and development, and build a domestic supply chain for critical battery materials. The funding will also support BatX Energies' plans to scale its operations beyond India while contributing to the country's growing circular economy.
BatX Energies, a battery recycling and critical minerals recovery company, has raised INR 105 crore in a Series A funding round led by IvyCap Ventures. Existing investors Zephyr Peacock, Mankind Pharma Family Office, Excel Industries Family Office and JITO also participated in the funding round, according to a company statement.
The company said the newly raised capital will be used to expand its battery recycling and refining capacity, strengthen research and development, and accelerate the creation of a domestic supply chain for critical battery materials. The investment is also expected to support the company's plans to scale its operations in international markets.
BatX Energies Co-founder and CEO Utkarsh Singh said that with the backing of IvyCap Ventures and the continued support of existing investors, the company is now well positioned to take the technology and business model it has built in India to global markets.
The company focuses on recovering valuable materials such as lithium, cobalt, nickel and other critical minerals from used lithium-ion batteries. These recovered materials can be reused in battery manufacturing, helping reduce dependence on imported raw materials while supporting resource efficiency. India has been placing increasing emphasis on developing a domestic ecosystem for battery recycling as electric vehicle adoption and energy storage demand continue to grow.
Commenting on the investment, IvyCap Ventures Founder and Managing Partner Vikram Gupta said the firm believes BatX has developed a strong technology-driven platform for recovering, refining and reusing battery materials. He added that the company addresses an issue that is both economically and strategically important, and IvyCap looks forward to supporting its expansion while contributing to India's circular economy.
Zephyr Peacock Managing Director Pankaj Raina said the investor remains optimistic about the company's long-term growth prospects. He stated that the latest funding round will help BatX scale its technology, expand capacity and play a significant role in building a circular supply chain for battery materials in India as well as overseas.
The funding comes at a time when India is encouraging investments in battery recycling and critical mineral recovery to support the country's clean energy transition. With demand for electric vehicles and battery storage expected to rise steadily, companies operating in recycling and material recovery are likely to play an increasingly important role in securing a sustainable supply of battery raw materials.
Source PTI
Advertisement
Facebook
Whatsapp
