IIM Ahmedabad Ventures, Basant Sharma and Group, and other investors participated in the seed funding round led by Caret Capital, which raised Rs 12 crore (roughly $1.37 million) for the battery circularity company PeakAmp.

Key Highlights

• PeakAmp raises ₹12 crore seed funding led by Caret Capital; other investors include IIM Ahmedabad Ventures and Basant Sharma.
• The battery circularity startup works on EV battery collection, recycling, second-life repurposing, material recovery with 99%+ efficiency.

PeakAmp, which was co-founded in 2024 by Aditya Sudhanshu and Vijay Gond, is developing a comprehensive end-of-life (EOL) EV battery management solution. By converting end-of-life batteries into valuable resources through safe collection, second-life repurposing, and high-purity material recovery, the startup hopes to propel India's circular economy and clean energy transition.

The company claims that its technology-enabled solution is focused on lithium-ion battery collection, segregation, and recycling, including high-purity material recovery and second-life repurposing. PeakAmp uses cutting-edge technology and strategic alliances to create a circular economy for batteries.

Vijay Gond, co-founder of PeakAmp, stated, "Our goal is not only to address battery waste but also to establish international benchmarks for sustainable resource recovery and make circularity a key component of India's clean energy future, advancing the nation towards true energy sovereignty and a leadership position in circular innovation on a global scale."

According to market research, India's EV market is expected to grow from $35 billion in 2024 to $111 billion by 2029, with more than 80 million EVs anticipated to be on the road.

PeakAmp asserts that its cutting-edge materials-recovery technology, backed by an expanding reverse-logistics network, safely transports and tracks end-of-life batteries while delivering over 99% efficiency and purity for vital metals like lithium, nickel, and copper.

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The startup added that it has successfully completed pilot projects with top industry participants and is establishing alliances throughout the battery lifecycle, from materials recovery and disassembly to collection and logistics.