BatX Energies Raises $11 Mn in Series A Round

Existing investors, including Zephyr Peacock, Mankind Pharma Family Office, Excel Industries Family Office, and JITO, also participated in the funding round.

Earlier, in December 2023, BatX Energies raised $5 million in a pre-Series A funding round led by Zephyr Peacock and other investors.

BatX Energies will use the new funding to expand its recycling and refining capacity, strengthen research and development, and build a local supply chain for battery materials.

Founded by Utkarsh Singh and Vikrant Singh, BatX Energies is based in Gurugram. The company recycles used batteries and recovers valuable minerals such as lithium, cobalt, nickel, and graphite.

It also refines these recovered minerals so they can be reused in the production of new batteries.

The company says it has built a commercial-scale battery recycling and critical minerals recovery platform and is already supplying battery-grade recycled materials to customers.

BatX Energies is also developing Cathode Active Materials (CAM), an important component used in the manufacturing of lithium-ion batteries.

Read Also- ServiceNow Acquires Israeli AI Startup ai.work in Multi-Million Dollar Deal