Indian battery tech startup LOHUM has secured $54 million in a Series B funding round, propelling its mission to become a global leader in sustainable energy transition materials. This significant investment, led by Singularity Growth, Baring Private Equity, and other prominent venture firms, empowers LOHUM to accelerate market expansion, scale up recycling operations across India, and tap into new markets in North America, Europe, and beyond.
LOHUM isn’t just another battery maker. It stands out by focusing on the entire battery lifecycle. Its expertise spans high-yield, high-purity battery recycling, repurposing batteries for second-life applications, and even predicting battery life and residual value. This comprehensive approach minimizes waste and maximizes resource utilization, making LOHUM a key player in the circular economy for batteries.
The company boasts state-of-the-art lithium-ion battery recycling and extraction technology that regenerates high-quality materials. This translates to a closed-loop system with minimal environmental impact, a critical aspect in the fight against climate change.
“We at LOHUM are thrilled to be equipped with the necessary resources for the next stage of our development,” said Rajat Verma, Founder, and CEO of LOHUM. “The funding will expedite our international expansion and fuel our industry-leading R&D innovation center.”
This investment underscores the growing importance of sustainable battery solutions. As the electric vehicle industry continues its rapid ascent, ethical and environmentally conscious battery production and recycling will be paramount. LOHUM is well-positioned to capitalize on this trend and establish itself as a frontrunner in the cleantech revolution.
With this fresh infusion of capital, LOHUM is poised to make significant strides in the coming years. Their commitment to sustainability and innovation positions them to play a crucial role in shaping the future of the battery industry.
