Battery recycling startup Batx raises $5 million in funding from zephyr peacock, lets venture news

Battery recycling startup Batx raises $5 million in funding from zephyr peacock, lets venture news

Bengaluru-based lithium battery recycling startup, BatX Energies, has revved its engine with a green light for the future. Securing $5 million in a pre-Series A funding round, led by Zephyr Peacock with Lets Venture alongside existing investors, BatX is gearing up to accelerate market expansion and ramp up recycling operations across India.

The company, founded by Utkarsh Singh and Vikrant Singh, offers a comprehensive solution for battery lifecycle management, catering to both OEMs and their customers. Their full-stack recycling and refurbishing process transforms used batteries into high-yielding battery-grade materials, boasting an impressive 99.95% purity for Lithium, Nickel, and Cobalt extraction from black mass.

With a remarkable track record of having recycled over 220 million batteries already, BatX is not just a business, but a champion for sustainability. Their journey aligns with the UN's 17 Sustainable Development Goals, contributing to a cleaner and greener future.

But BatX's impact extends beyond environmental benefits. The company actively empowers local scrap collectors, aiding their transition into the organized sector and building a reliable supply chain for its operations. This not only ensures responsible sourcing of used batteries but also uplifts the lives of individuals involved in the process.

This latest funding injection empowers BatX to scale its operations and amplify its positive impact. The company plans to utilize the funds for market expansion, enhancing its recycling capacity, and solidifying its position as a leader in lithium battery recycling in India.

As the demand for electric vehicles soars, so does the need for responsible battery management. BatX Energies is at the forefront of this challenge, offering a sustainable and efficient solution that benefits both the environment and local communities. With its ambitious vision and now-fueled growth engine, BatX is poised to revolutionize the landscape of battery recycling and pave the way for a greener future on wheels.

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December 19, 2023

Kalpana Maurya