BatX Energies, a Gurugram-based battery recycling and critical minerals recovery startup, said on July 2 that it raised 1.1 billion rupees (US$11 million) in a series A round.

The round was led by IvyCap Ventures, with participation from existing investors Zephyr Peacock, Mankind Pharma Family Office, Excel Industries Family Office, and JITO.

The company said the proceeds will expand its recycling and refining capacity, strengthen research and development. The company aims to support domestic supply chain for battery materials and recovered from end-of-life batteries and manufacturing scrap.

BatX, founded in 2020, had previously raised US$6.66 million across two earlier rounds, including a US$5 million early-stage financing in December 2023.

BatX said technology differentiates it and that it has four granted patents, with several more pending.

The round comes as India’s Battery Waste Management Rules, 2022, require extended producer responsibility (EPR) from battery producers.

🔗 Source: BatX Energies