Battery recycling and critical minerals recovery startup BatX Energies has raised Rs 105 crore (approximately $11 million) in a Series A funding round led by IvyCap Ventures. The latest investment marks a significant milestone for the Gurugram-based company as it looks to strengthen India’s domestic battery materials ecosystem and expand its recycling capabilities.
The funding round also received participation from existing investors Zephyr Peacock, Mankind Pharma Family Office, Excel Industries Family Office, and JITO, reflecting continued investor confidence in the company’s technology and long-term growth strategy.
Fresh Capital to Scale Operations and Innovation
BatX Energies plans to use the newly raised capital to expand its battery recycling and refining infrastructure while strengthening its research and development efforts. The company also intends to accelerate the creation of a domestic supply chain for battery materials, an area that is becoming increasingly important as electric vehicle adoption and energy storage demand continue to grow in India.
The investment is expected to support the company’s efforts to increase processing capacity and improve its technology for recovering valuable materials from used batteries and manufacturing waste.
Also Read: Can Ben Lamm’s Colossal Biosciences Bring the Mammoth Back?
Building India’s Battery Materials Ecosystem
Founded by Utkarsh Singh and Vikrant Singh, BatX Energies operates in the battery recycling and critical minerals recovery sector. The startup focuses on extracting and refining valuable materials from end-of-life lithium-ion batteries as well as production scrap generated during battery manufacturing.
Its recovery process includes critical battery materials such as lithium, cobalt, nickel, and graphite, which are essential components in the production of new lithium-ion batteries. Recovering these minerals from used batteries helps reduce dependence on freshly mined resources while supporting a more sustainable supply chain.
The company has positioned itself as a technology-driven player working to improve resource efficiency through the recycling and refinement of critical battery materials.
Commercial-Scale Recycling Platform Already in Operation
According to the company, BatX has developed a commercial-scale platform for battery recycling and critical mineral recovery. It is already supplying recovered battery-grade materials to customers, demonstrating the commercial viability of its recycling operations.
As demand for battery materials continues to increase across electric mobility and energy storage applications, companies focused on recovering critical minerals are expected to play an increasingly important role in supporting supply chain resilience.
By processing end-of-life batteries and manufacturing scrap, BatX aims to enable the reuse of valuable resources that can be reintroduced into battery production.
Advancing Into Cathode Active Materials
Beyond recycling and material recovery, BatX Energies is also working on the development of Cathode Active Materials (CAM), a key component used in lithium-ion battery manufacturing. CAM forms the active material in a battery’s cathode and plays an essential role in determining battery performance and efficiency.
The company’s focus on CAM development reflects its broader strategy of moving further along the battery value chain by complementing its recycling operations with advanced material production.
Continuing Growth After Earlier Funding Round
The Series A investment follows BatX Energies’ pre-Series A funding round in December 2023, when the company raised $5 million. That round was led by Zephyr Peacock along with other investors and helped support the company’s growth during its early expansion phase.
With the latest Rs 105 crore infusion, BatX Energies plans to further strengthen its operational capabilities, expand its refining and recycling capacity, and continue developing technologies that support the recovery and reuse of critical battery materials.
As India continues to build its electric mobility and clean energy ecosystem, companies focused on battery recycling and critical mineral recovery are becoming an important part of the broader effort to establish a more resilient and sustainable domestic supply chain for battery manufacturing.
Also Read: Age Care Labs Secures $9 Million to Expand Elder Care Services Across India
