BatX Energies, a battery recycling and critical minerals recovery firm, has raised ₹105 crore in a Series A funding round.
The investment was led by IvyCap Ventures, with participation from existing investors Zephyr Peacock, the Mankind Pharma Family Office, the Excel Industries Family Office, and JITO.
The capital injection underscores growing investor interest in India's circular economy infrastructure, particularly in the recovery of critical minerals from spent batteries.
As electric vehicle adoption accelerates, the demand for efficient recycling mechanisms and domestic supply chains for battery materials is expected to intensify.
The involvement of family offices from major pharmaceutical and chemical manufacturers, such as Mankind Pharma and Excel Industries, highlights a broader trend of corporate capital flowing into sustainability-focused startups.
These investors likely see strategic value in securing access to recycled materials or supporting the development of a robust recycling ecosystem.