Indian battery circularity startup PeakAmp raises $1.4 million
PeakAmp says it is building India’s first full-stack, tech-enabled solution for the collection, segregation and recycling of lithium-ion batteries.
Indian battery circularity startup PeakAmp has raised INR 120 million (about USD 1.37 million) in a seed funding round led by Caret Capital. The round also saw participation from IIMA Ventures, angel investor Basant Sharma and Group, and other investors from clean-tech, mining and recycling sectors.
PeakAmp says it is building India’s first full-stack, tech-enabled solution for the collection, segregation and recycling of lithium-ion batteries. The platform also enables second-life repurposing and high-purity material recovery, aimed at accelerating a domestic circular economy for batteries, according to a report by BW Disrupt.
“PeakAmp’s scalable, tech-driven model positions them as a key player in India’s journey toward energy independence,” said Karan Mittal, Managing Partner at Caret Capital, according to a report by Deccan Founders. “Efficient material recovery from batteries will reduce import dependence and strengthen the domestic battery ecosystem.”
“Circular economy solutions are mission-critical for the clean energy transition,” said Pankaj Bansal, Managing Partner at Caret Capital. “With PeakAmp, we are backing a team solving one of the most urgent challenges: responsible battery disposal and resource recovery.”
“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,” Vijay Gond, co-founder of PeakAmp, was quoted as saying in a report by Entrackr.
