Funding · Climate, Energy & Sustainability

BatX Energies raises ₹105 Cr in Series A funding

What they do

BatX Energies recycles used lithium-ion batteries to recover critical metals like lithium, nickel, and cobalt

The company raised ₹105 Cr led by IvyCap Ventures to expand capacity and strengthen its domestic supply chain

This investment supports growth in India's battery recycling market, projected to reach $1.3 Bn by 2034

Battery recycling startup BatX Energies has closed a ₹105 Cr ($11 Mn) Series A funding round.
IvyCap Ventures led the investment round for the Indian clean-tech company.
Existing investors including Zephyr Peacock, Mankind Pharma Family Office, and JITO participated in the deal.
The funds will be used to expand recycling and refining capacity across India.
BatX plans to strengthen its research and development efforts for new material production.
The company aims to accelerate its domestic supply chain for critical battery materials.
BatX is advancing capabilities to produce cathode active materials for lithium-ion battery positive electrodes.
A partnership with VinFast focuses on high-voltage battery recycling and repurposing for their India factory.

The battery recycling market is projected to grow from $603.9 Mn in 2025 to $1.3 Bn by 2034.
Delhi announced a ₹15,000 Cr investment package to boost electric mobility infrastructure.
The central government unveiled guidelines for 72,300 public EV charging stations under the PM E-Drive scheme.
Growing EV adoption increases the need for efficient battery waste management and raw material recovery.
Domestic supply chains for critical minerals are essential for India's energy transition goals.

BatX uses a proprietary zero-waste hydro-electro process to recycle used lithium-ion batteries.
It recovers 99.95% pure lithium, nickel, and cobalt from black mass of Li-ion cells.
Input sources include used batteries from EV makers, manufacturers, and factory waste.
The company recovers lithium, cobalt, nickel, and graphite from processed battery waste.
BatX operates a shredding capacity of 5,000 metric tonnes per year.
It has a hydrometallurgy processing capacity of 5,000 metric tonnes per year.
The network of micro facilities has a combined capacity of over 20,000 metric tonnes per year.
Battery refurbishing capacity stands at 20 MWh for repurposing applications.
The company generated $4.5 Mn in revenue during the fiscal year 2025.