Series A Funding Fuels Sustainable Growth

Gurugram-based clean technology startup BatX Energies has secured ₹105 crore (approximately $11 million) in a Series A funding round led by IvyCap Ventures. The round also saw participation from existing investors Zephyr Peacock, Mankind Pharma Family Office, Excel Industries Family Office, and JITO, reinforcing investor confidence in India’s fast-growing battery recycling sector.

The latest funding marks an important milestone for BatX Energies as it works toward building a sustainable ecosystem for recovering valuable battery materials and supporting India’s transition to electric mobility and clean energy.

Capital to Expand Recycling and Refining Capabilities

BatX Energies plans to utilize the fresh investment to significantly expand its battery recycling and refining operations across the country. The company will also strengthen its research and development initiatives while accelerating the creation of a domestic supply chain for critical battery materials.

In addition, the startup is developing advanced capabilities to manufacture cathode active materials (CAM), one of the most essential components used in lithium-ion battery production. This move is expected to reduce India’s dependence on imported battery materials while supporting local manufacturing.

Recovering Valuable Critical Minerals

Founded in 2020 by Utkarsh Singh and Vikrant Singh, BatX Energies specializes in recovering high-value materials such as lithium, cobalt, nickel, and graphite from end-of-life lithium-ion batteries and battery manufacturing scrap.

These recovered minerals are refined and reintroduced into the battery manufacturing supply chain, enabling a circular economy where valuable resources are reused instead of being discarded.

By reducing waste and minimizing the need for fresh mining, the company is contributing to more sustainable battery production and improved resource efficiency.

Scaling Operations for Global Opportunities

BatX Energies has already established significant operational capacity across India. The company currently operates a battery shredding capacity of 5,000 metric tonnes annually alongside a hydrometallurgy processing capacity of 5,000 metric tonnes per year.

It has also developed a nationwide network of micro-processing facilities with a combined capacity exceeding 20,000 metric tonnes annually, in addition to a 20 MWh battery refurbishing capacity.

According to Utkarsh Singh, Co-founder and CEO of BatX Energies, the company is now prepared to scale its proven technology beyond India and enter international markets. He emphasized that many countries are facing similar challenges in securing sustainable supplies of critical minerals, creating significant global opportunities for BatX’s circular economy solutions.

Supporting India’s Clean Energy Future

As electric vehicle adoption accelerates worldwide, demand for lithium-ion batteries and critical minerals continues to grow rapidly. Battery recycling has become increasingly important in reducing dependence on imported raw materials while ensuring environmentally responsible resource recovery.

BatX Energies previously raised $5 million in a Pre-Series A funding round led by Zephyr Peacock in December 2023. With the latest investment, the company is well-positioned to strengthen India’s battery recycling ecosystem, support domestic manufacturing, and contribute to building a resilient clean energy supply chain for the future.

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