BatX

BatX

Provider of recycling services for lithium ion battery materials

Founded

2020

Headquarters

Gurugram (India)

Status

Seed

Company Details

Website

Socials

Email

Phone

+91-9667723923

BatX is a pioneering company in the battery recycling and sustainable energy storage sector, dedicated to advancing the circular economy by transforming end-of-life lithium-ion batteries into high-purity, reusable materials and second-life energy solutions. BatX operates globally, with a strong presence in emerging markets where battery waste and energy access are critical issues.

Core Products & Services

  • Lithium-ion Battery Recycling: BatX uses proprietary “Zero Waste-Zero Emission” and hydrometallurgical technologies to recover critical materials (lithium, cobalt, nickel, manganese) from used batteries, achieving over 99.5% purity.

  • Second-Life Battery Solutions: The company refurbishes and reconditions partially used batteries for deployment in off-grid energy storage, rural electrification, and renewable energy systems, extending battery life and supporting sustainable development.

  • Material Supply: BatX supplies battery-grade recovered materials to manufacturers in battery cell production, renewable energy, and pharmaceuticals, reducing reliance on imported raw materials and supporting local supply chains.

  • Consultancy & R&D: BatX offers consulting services for battery recycling and sustainable supply chain management, and invests in R&D to advance recycling technologies and develop new products such as pCAM (Precursor Cathode Active Material) for cathode manufacturing.

Business Model & Revenue Streams

  • Sale of Recovered Materials: BatX sells high-purity lithium, cobalt, nickel, and manganese extracted from recycled batteries to manufacturers for use in new battery production, renewable energy storage, and pharmaceuticals.

  • Battery Recycling Services: The company charges manufacturers, retailers, and organizations recycling service fees for the collection, transportation, and environmentally responsible processing of used batteries.

  • Second-Life Battery Solutions: Revenue is generated by refurbishing and selling reconditioned batteries for off-grid energy storage, rural electrification, and renewable energy projects, especially in underserved markets.

  • Consultancy & Licensing: BatX provides consulting services and licenses its proprietary recycling technologies and processes to other businesses, contributing additional revenue.

  • Partnerships & Collaborations: The company forms revenue-sharing partnerships with battery manufacturers, EV companies, and renewable energy providers for large-scale recycling and material recovery projects.

  • Government Grants & Incentives: BatX receives grants and incentives for its contributions to environmental sustainability and technological innovation.

Customer Segmentation

  • B2B: Battery and EV manufacturers, electronics producers, renewable energy companies, and utility providers.

  • B2G: Government agencies and public sector initiatives focused on sustainability and waste management.

  • B2C: Individuals and small businesses seeking safe battery disposal and recycling services.

Growth Strategy

  • Market Expansion: Scaling recycling and second-life operations across India and other emerging markets, with plans for global partnerships and facility expansion.

  • Product Innovation: Investing in R&D for new recycling technologies, advanced battery materials (like pCAM), and digital traceability solutions.

  • Strategic Partnerships: Collaborating with industry leaders, government bodies, and research institutions to drive adoption and scale impact.

  • Sustainability Leadership: Aligning with global sustainability goals (UN SDGs, Net-Zero by 2070), BatX sets industry standards for circular economy practices and environmental responsibility.

Conclusion

BatX is redefining the future of battery recycling and sustainable energy storage through advanced technology, a circular supply chain, and a commitment to environmental and social impact. Its innovative business model, strong industry partnerships, and global recognitions position BatX as a leader in the clean energy transition and a compelling opportunity for investors, researchers, and industry professionals.

Key People

Utkarsh Singh

Vikrant Singh

Key Metrics

Total Equity Funding

$6.96 Million

No. of Funding Rounds

3

Latest Funding Round

$5.0 Million, Seed

as of April 4, 2023

Post Money Valuation

$26 Million

as of December 18, 2023

Funding Multiple

3.74x

as of December 18, 2023

Investors

Zephyr Peacock

and 4 more

Employee Count

51

Similar Companies

Vecmocon Technologies

Exit Details

-

All Funding Rounds

DateRound NameAmountValuationRevenueRevenue Multiple
Investors
April 4, 2023Seed$5.0 Million$26.0 Million$2.7 Million5.9x Zephyr Peacock, JITO Incubation & Innovation Foundation, J&A Partners Business, GX Ventures, Singhvi Heritage, Kamaljyot Investments ,LetsVenture, EXCEL Industries, BluSmart, Mankind Pharma, Kamaljyot Investments, Arora Financial Services, Singhvi Heritage, GX Ventures
May 20, 2022Seed$1.6 Million$6.7 Million$508.0 K10.2x JITO Incubation & Innovation Foundation, Vevek Venture Investments, Levim Capital Investments, Shri Padam Ventures, Rosebay Consultants, GX Ventures, Kamaljyot Investments, Singhvi Heritage, Haldiramsfamilyoffice , Kamaljyot Investments, Sarcha Advisors, Arora Financial Services, Singhi Capital Finance, Madhu Buildtech, YMS Finance, KM Trans Logistics, Urban Land Layout Promoters, Singhvi Heritage, Sprout Group, Meche, Ratna Devlopers, VM Group, Golecha Naturals, Uloyi Advisors, GX Ventures
November 11, 2021Seed $363.0 K$1.1 Million$47.3 K14.9x Survam Partners , Sarcha Advisors, Nakrani Ventures, Gargfinanceblog, Talentscapes

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