PeakAmp raises $1.37 Mn in Seed round led by Caret Capital

Battery circularity company PeakAmp has raised Rs 12 crore (about $1.37 million) in a seed funding round led by Caret Capital, with participation from IIMA Ventures, Basant Sharma and Group, and other investors.

Co-founded in 2024 by Vijay Gond and Aditya Sudhanshu, PeakAmp is building a full-stack solution for end-of-life (EOL) EV battery management. From safe collection and second-life repurposing to high-purity material recovery, the startup aims to transform end-of-life batteries into valuable resources, driving India’s clean energy transition and circular economy.

According to the company, its tech-enabled solution focuses on collection, segregation, and recycling of lithium-ion batteries, including second-life repurposing and high-purity material recovery. PeakAmp seeks to establish a circular economy for batteries by leveraging strategic partnerships and advanced technology.

“Our mission is not only to tackle battery waste but also to set global standards for sustainable resource recovery and make circularity integral to India’s clean energy future, propelling the country towards true energy sovereignty and a global leadership role in circular innovation,” said Vijay Gond, Co-founder of PeakAmp.

Market research estimates that India’s EV market will surge from $35 billion in 2024 to $111 billion by 2029, with over 80 million EVs expected on the roads.

PeakAmp claims that its advanced materials-recovery technology delivers over 99% efficiency and purity for critical metals such as lithium, nickel, and copper, supported by a growing reverse-logistics network to safely transport and trace end-of-life batteries.

The startup also said it has executed successful pilots with leading industry players and is forging partnerships across the battery lifecycle—from collection and logistics to disassembly and materials recovery.