Lithium battery recycling startup BatX Energies has raised $5 million in pre-Series A round led by Zephyr Peacock in participation with Lets Venture, and existing backers JITO Angel Network and Family offices of Mankind Pharma, Excel Industries, and BluSmart among others.
The funds will be used to scale market expansion and ramp up recycling operations across the country.
Founded by Utkarsh Singh and Vikrant Singh, BatX Energies enables a full stack recycling and refurbishing solution for OEM’s and its customers. It transforms used batteries into battery grade materials. According to the company, it extracts 99.95% pure Lithium, Nickel, Cobalt from the black mass high yield.
The startup claims to have already recycled 220 million batteries. It supports global sustainability goals such as the UN’s 17 Sustainable Development Goals.
Furthermore, BatX Energies is uplifting local scrap collectors, helping them join the organized sector and building a reliable supply chain.
