BatX Energies raises Rs 105 Cr in Series A round led by IvyCap Ventures

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Battery recycling and critical minerals recovery startup BatX Energies has raised Rs 105 crore ($11 million) in a Series A funding round led by IvyCap Ventures.
The round also saw participation from existing investors Zephyr Peacock, Mankind Pharma Family Office, Excel Industries Family Office, and JITO.
Prior to this round, BatX had raised $5 million in pre-Series A round led by Zephyr Peacock and others in December 2023.
The Gurugram-based startup will use the fresh funds to expand its recycling and refining capacity, strengthen R&D, and accelerate the development of a domestic supply chain for battery materials.
Founded by Utkarsh Singh and Vikrant Singh, BatX focuses on battery recycling, critical mineral recovery, and refining. The company recovers materials such as lithium, cobalt, nickel, and graphite from end-of-life batteries and manufacturing scrap.
BatX claims to have built a commercial-scale battery recycling and critical minerals recovery platform and is already supplying recovered battery-grade materials to the market.
The company is also working on the development of Cathode Active Materials (CAM), which are used in lithium-ion battery manufacturing.

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