BatX Energies Raises ₹105 Crore in Series A Round Led by IvyCap Ventures

Battery recycling and critical minerals recovery startup BatX Energies has raised ₹105 crore (around $11 million) in a Series A funding round led by IvyCap Ventures. The funding round also attracted participation from existing investors including Zephyr Peacock, Mankind Pharma Family Office, Excel Industries Family Office, and JITO, reflecting continued investor confidence in India's fast-growing clean energy and battery recycling ecosystem.

The fresh capital will help the Gurugram-based startup expand its battery recycling and refining capacity, strengthen research and development (R&D), and accelerate the creation of a domestic supply chain for critical battery materials. As India pushes towards electric mobility and energy storage, the demand for sustainable recycling and recovery of battery materials continues to grow.

BatX Energies is focused on recovering high-value critical minerals such as lithium, cobalt, nickel, and graphite from end-of-life lithium-ion batteries and manufacturing scrap. The company is also developing Cathode Active Materials (CAM), a key component used in lithium-ion battery manufacturing, positioning itself as an important player in India's circular economy and EV supply chain.

BatX Energies Series A Funding: Key Highlights

How BatX Energies Will Use the Fresh Capital

The company plans to deploy the newly raised funds across several strategic growth initiatives.

These investments are expected to strengthen BatX's position in India's rapidly expanding battery recycling industry.

What BatX Energies Does

Founded by Utkarsh Singh and Vikrant Singh, BatX Energies specializes in battery recycling, critical mineral recovery, and refining technologies.

The company recovers valuable materials from used lithium-ion batteries and manufacturing waste, including:

• Lithium
• Cobalt
• Nickel
• Graphite

These recovered materials are refined into battery-grade products that can be reused in the manufacturing of new lithium-ion batteries, reducing dependence on imported raw materials.

Focus on Cathode Active Materials (CAM)

Apart from recycling, BatX is also developing Cathode Active Materials (CAM), one of the most important components used in lithium-ion battery production.

Domestic production of CAM is expected to play a crucial role in strengthening India's electric vehicle (EV) manufacturing ecosystem and reducing reliance on global supply chains.

Why This Funding Matters

India's electric vehicle market is expanding rapidly, increasing demand for sustainable battery recycling and critical mineral recovery. As the country works towards building a self-reliant battery ecosystem, companies involved in recycling and refining are becoming increasingly important.

The latest funding will enable BatX Energies to scale its operations while supporting India's broader goals of resource security, circular economy development, and domestic manufacturing under clean energy initiatives.

Key Takeaways

How much funding has BatX Energies raised?

BatX Energies has raised ₹105 crore (approximately $11 million) in a Series A funding round.

Who led the Series A funding round?

The funding round was led by IvyCap Ventures, with participation from Zephyr Peacock, Mankind Pharma Family Office, Excel Industries Family Office, and JITO.

What does BatX Energies do?

The company specializes in battery recycling, critical mineral recovery, refining, and the development of battery materials for lithium-ion batteries.

How will the company use the funds?

The proceeds will be used to expand recycling and refining capacity, strengthen research and development, build a domestic battery materials supply chain, and accelerate the development of Cathode Active Materials (CAM).

Why is battery recycling important?

Battery recycling helps recover valuable minerals like lithium, cobalt, nickel, and graphite, reducing dependence on imports, lowering environmental impact, and supporting the growing electric vehicle industry.