New Delhi, Jul 2 (PTI) Battery recycling and critical minerals recovery firm BatX Energies on Thursday said it has raised Rs 105 crore in a funding round led by IvyCap Ventures.
The Series A funding round also saw the participation of existing investors Zephyr Peacock, Mankind Pharma Family Office, Excel Industries Family Office and JITO, BatX Energies said in a statement.
“With IvyCap’s partnership and the continued support of our existing investors, we are now positioned to scale what we have successfully built in India to global markets,” BatX Energies Co-founder & CEO, Utkarsh Singh, said.
The fresh capital will be used to expand recycling and refining capacity, strengthen R&D, and accelerate the development of a domestic supply chain for critical
battery materials, the statement added.
“BatX has built a strong technology-led platform for recovering, refining, and reusing battery materials, addressing a challenge of both economic and strategic importance. We are excited to partner with the team as they scale a globally relevant business and strengthen India’s circular economy,” IvyCap Ventures Founder & Managing Partner, Vikram Gupta said.
Zephyr Peacock MD, Pankaj Raina said, “As existing investors, we remain excited about the long-term opportunity ahead and believe this fundraise positions the company well to scale its technology, expand capacity, and play an important role in building a circular supply chain for battery materials in India and beyond.” PTI RKL DRR
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