BatX Energies, an India-based firm that recycles lithium-ion batteries, has raised US$5 million in a pre-series A funding round led by Zephyr Peacock.

The capital will support the company’s expansion and scaling of its operations in the country.

The firm said it has recycled 220 million batteries in India by using its zero-waste hydro-electro process to extract pure lithium, nickel, and cobalt.