PeakAmp, a battery circularity company, has raised Rs 12 crore, or roughly $1.37 million, in a seed funding round led by Caret Capital. IIMA Ventures, Basant Sharma and Group, and other investors also participated.
Vijay Gond and Aditya Sudhanshu co-founded PeakAmp in 2024 with the goal of developing a comprehensive end-of-life (EOL) EV battery management solution. In order to propel India’s clean energy transition and circular economy, the startup seeks to turn end-of-life batteries into valuable resources through safe collection, second-life repurposing, and high-purity material recovery.
In addition to high-purity material recovery and second-life repurposing, the company claims that its tech-enabled solution concentrates on the collection, segregation, and recycling of lithium-ion batteries. In order to create a circular economy for batteries, PeakAmp uses cutting-edge technology and strategic alliances.
“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,” said Vijay Gond, Co-founder of PeakAmp.
Over 80 million EVs are anticipated to be on Indian roads by 2029, according to market research, which projects that the country’s EV market will grow from $35 billion in 2024 to $111 billion.
In order to safely transport and trace end-of-life batteries, PeakAmp says its cutting-edge materials-recovery technology provides over 99% efficiency and purity for vital metals like lithium, nickel, and copper. This technology is backed by an expanding reverse-logistics network.
Additionally, the startup reported that it has successfully completed pilot projects with top industry participants and is establishing alliances throughout the battery lifecycle, from logistics and collection to disassembly and material recovery.
