Introduction
In a landmark move for sustainable innovation, PeakAmp, a trailblazing startup in battery circularity, has secured ₹12 crore (approximately USD 1.37 million) in seed funding. Led by Caret Capital, the round also attracted investments from IIMA Ventures, angel investor Basant Sharma and Group, and other key players in clean-tech, mining, and recycling sectors. This infusion highlights the surging investor enthusiasm for eco-friendly solutions amid India’s accelerating electric vehicle (EV) boom.
Founding Vision and Core Mission
Launched in 2024 by Vijay Gond and Aditya Sudhanshu, PeakAmp is at the forefront of developing India’s inaugural comprehensive, technology-driven platform for managing end-of-life (EOL) lithium-ion batteries. The company’s integrated approach covers everything from efficient collection and sorting to advanced recycling processes, including repurposing batteries for second-life uses and extracting high-purity materials. PeakAmp’s goal is to foster a robust circular economy for batteries, harnessing strategic alliances and state-of-the-art tech to promote sustainable resource management.
Vijay Gond, Co-Founder of PeakAmp, emphasizes the transformative potential: “Our ambition is to pioneer India’s leading battery recycling ecosystem, ensuring every battery is collected, reused, and recycled via intelligent, data-backed methods. Beyond addressing waste, we’re aiming to elevate global benchmarks in sustainable recovery, embedding circular principles into India’s clean energy roadmap for energy independence and worldwide leadership in eco-innovation.”
Investment Insights and Strategic Backing
Caret Capital, a venture fund dedicated to sustainability, took the lead in this funding round, recognizing PeakAmp’s scalable, tech-centric model. Karan Mittal, Managing Partner at Caret Capital, notes, “PeakAmp’s innovative, collaboration-focused strategy is primed for expansion. Their prowess in recovering essential materials could position them as a vital contributor to India’s energy self-sufficiency. As EVs proliferate, effective battery recycling will be essential for curbing imports and cultivating a sturdy local battery supply chain.”
Pankaj Bansal, also Managing Partner at Caret Capital, adds, “In today’s world, circular economy initiatives are indispensable. We’re supporting PeakAmp’s team as they confront a pressing yet overlooked issue in the clean energy shift: ethical battery disposal and resource reclamation. This is the foundation for a restorative tomorrow.”
The funding comes at a pivotal time, with PeakAmp already demonstrating strong early momentum through successful pilot programs with major industry stakeholders and alliances spanning the entire battery lifecycle—from logistics and disassembly to material extraction.
Innovative Technology and Operational Edge
What distinguishes PeakAmp is its end-to-end framework, which integrates cutting-edge materials recovery tech achieving over 99% efficiency and purity for vital elements like lithium, nickel, and copper. Coupled with an expanding reverse-logistics system for secure transport and tracking of spent batteries, the platform ensures strict regulatory adherence, full traceability, and environmental responsibility throughout the supply chain. Advanced diagnostic tools further enable health assessments of battery cells, facilitating second-life deployments for EOL units.
This holistic model not only minimizes environmental impact but also unlocks economic value from what would otherwise be waste, aligning perfectly with global sustainability goals.
Market Context and Growth Potential
India’s EV sector is on a meteoric rise, projected to expand from $35 billion in 2024 to $111 billion by 2029, with more than 80 million EVs expected on roads. This surge will dramatically increase battery usage, posing a formidable challenge in handling EOL batteries responsibly. Currently, the nation grapples with an eightfold deficit in recycling capacity compared to future demands, creating an urgent opportunity for innovators like PeakAmp to step in, convert waste into wealth, and support a greener, more autonomous energy landscape.
By addressing this gap, PeakAmp is not just solving a logistical hurdle but actively contributing to India’s broader clean energy ambitions and reducing reliance on imported resources.
Company and Investor Profiles
About PeakAmp
PeakAmp stands as a leader in battery circularity, crafting India’s pioneering all-in-one solution for EOL EV battery handling. Spanning secure collection, second-life utilization, and premium material reclamation, PeakAmp converts discarded batteries into precious assets, advancing the nation’s clean energy evolution and circular economy principles.
About Caret Capital
Caret Capital is a thematic VC firm centered on sustainability, backing transformative startups in Smart Mobility, Distribution & Supply Chain, and Jobs—sectors poised to drive $1.2 trillion in value by 2030 within India’s growth narrative. The fund’s mission includes slashing 10 million metric tons of CO2 emissions and generating 10 million jobs.
Conclusion
PeakAmp’s ₹12 crore seed round represents a powerful endorsement of its role in shaping a sustainable future for India’s battery industry. With visionary leadership, groundbreaking technology, and solid investor support, the startup is set to lead the charge in battery recycling, driving environmental stewardship and economic resilience in the heart of the nation’s green transition.
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