According to reports, battery tech startup LOHUM intends to raise Rs1,000 crore, or $112 million, in its Series C investment, which is probably going to be its pre-IPO financing.

Key Highlights

• LOHUM plans to raise ₹1,000 cr ahead of IPO to scale manganese-based LMFP battery production.
• The funds will support capacity expansion, R&D, and technology development for sustainable energy transition materials.

Sources stated, "The firm plans to go public within the next 12-18 months, and this will be its final private round." "The round will be led by I9 Capital and Singularity Ventures, with participation from current backers as well."

The sources claim that during the last six months, Lohum has raised Rs 400 crore using a combination of debt and equity. While the funding was obtained from private sector banks and NBFCs, the equity came from senior executives from related businesses and current owners.

The insider stated, "The terms of the deal have been finalized, and if nothing changes at the last minute, the transaction will be completed in the next couple of months."

Its $15 million pre-series C deal, led by Growth I9 Opportunity LLP and included current investors like Baring Private Equity, Singularity Growth, Asiana Fund, and others, was exclusively revealed earlier this week. This round seems to be a component of the debt and equity mix worth Rs 400 crore.

LOHUM, which was established in 2018, creates next-generation Li-ion mobility and energy solutions by recycling battery materials to extend their lifespan and providing batteries many uses.

With the support of its comprehensive battery recycling, raw material refining, and repurposing operations, it claims to be one of the biggest producers of sustainable energy-transition materials.

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TheKredible, a startup data intelligence platform, reports that Lohum has raised more than $150 million so far, with companies on its cap table including Baring Equity, Singularity Growth, and Cactus Partners.

In FY24, the Delhi-based company's operating revenue increased by 72% year over year to Rs 529 crore, and its profits more than tripled to Rs 28 crore. The business has not yet released its FY25 figures.