Battery recycling and critical minerals recovery startup BatX Energies has secured Rs 105 crore, which is about 11 million dollars, in its Series A funding round. The round was led by IvyCap Ventures, with existing backers Zephyr Peacock, Mankind Pharma Family Office, Excel Industries Family Office, and JITO also joining in.
What BatX Energies Does
Founded by Utkarsh Singh and Vikrant Singh, BatX works in the space of battery recycling and the recovery of critical minerals. The company extracts valuable materials such as lithium, cobalt, nickel, and graphite from batteries that have reached the end of their life, as well as from scrap generated during battery manufacturing. These recovered materials can then be reused in making new batteries, reducing the need to import or mine fresh raw materials.
The company states that it already runs a commercial scale platform for battery recycling and mineral recovery, and that it is currently supplying battery grade materials that it has recovered to buyers in the market. This suggests BatX has moved past the early testing stage and is now operating at a level where its output is being used commercially.
Where the New Funds Will Go
With the fresh capital, BatX plans to grow its recycling and refining capacity so it can process larger volumes of battery waste and scrap. The company also intends to put money into research and development, which should help it improve its recovery methods and material quality over time. Another major focus area is building a stronger domestic supply chain for battery materials within India, which could reduce the country’s reliance on imported minerals for battery production.
Beyond recycling and mineral recovery, BatX is also working on developing Cathode Active Materials, commonly known as CAM. These materials play a key role in the manufacturing of lithium ion batteries, and developing them in house could allow BatX to move further up the battery supply chain rather than just supplying raw recovered minerals.
With this Series A round now closed, BatX Energies appears set to scale up its recycling operations and push further into critical mineral recovery and cathode material development. As India continues to push for a stronger domestic battery ecosystem, startups like BatX could play an important role in reducing dependence on imported battery materials.
