BatX Energies Private Limited has successfully secured ₹105 crore through a Series A funding round, spearheaded by IvyCap Ventures. The fundraising also saw contributions from existing investors including Zephyr Peacock, the Mankind Pharma Family Office, and the Excel Industries Family Office.
The legal advisory for BatX Energies in this transaction was provided by IC RegFin Legal. The team managing this deal comprised Anish Jaipuriar as the Partner, supported by Hardik Sabbarwal (Principal Associate), Nidhi Gupta (Senior Associate), and Utsav Vats (Associate).
BatX Energies is at the forefront of battery recycling and the recovery of critical minerals. Their operations focus on extracting rare earth metals such as lithium, cobalt, nickel, and manganese from spent lithium-ion cells, which are further utilized in the production of new lithium-ion batteries.
The newly acquired funds will be directed towards expanding BatX Energies’ battery recycling capabilities and enhancing their research and development initiatives.
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