BatX Energies Secures USD 5 Million in Early Stage Funding for Battery Recycling
Funding Round Led by Zephyr Peacock
New Delhi-based BatX Energies, a startup specializing in battery recycling, announced the successful raising of USD 5 million (over Rs 40 crore) in an early-stage funding round. The round was led by Zephyr Peacock, a notable investment firm.
Participation from Other Investors
The funding round also saw participation from Lets Venture, JITO Angel Network, and family offices of Mankind Pharma, Excel Industries, and BluSmart, who are existing investors in the company.
Utilization of the Funds
The fresh infusion of capital is set to boost BatX Energies' efforts in scaling up the production of recycled battery-grade lithium, nickel, and cobalt. Additionally, it will aid in establishing a secured nationwide reverse logistics network for sourcing.
