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PeakAmp raises $1.37 Mn in Seed round led by Caret Capital

EntrackrEntrackr · 1m ago
PeakAmp raises $1.37 Mn in Seed round led by Caret Capital
Medial

PeakAmp raises $1.37 Mn in Seed round led by Caret Capital Battery circularity company PeakAmp has raised Rs 12 crore (about $1.37 million) in a seed funding round led by Caret Capital, with participation from IIM Ahmedabad Ventures, Basant Sharma and Group, and other investors. Co-founded in 2024 by Vijay Gond and Aditya Sudhanshu, PeakAmp is building a full-stack solution for end-of-life (EOL) EV battery management. From safe collection and second-life repurposing to high-purity material recovery, the startup aims to transform end-of-life batteries into valuable resources, driving India’s clean energy transition and circular economy. According to the company, its tech-enabled solution focuses on collection, segregation, and recycling of lithium-ion batteries, including second-life repurposing and high-purity material recovery. PeakAmp seeks to establish a circular economy for batteries by leveraging strategic partnerships and advanced technology. “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. Market research estimates that India’s EV market will surge from $35 billion in 2024 to $111 billion by 2029, with over 80 million EVs expected on the roads. PeakAmp claims that its advanced materials-recovery technology delivers over 99% efficiency and purity for critical metals such as lithium, nickel, and copper, supported by a growing reverse-logistics network to safely transport and trace end-of-life batteries. The startup also said it has executed successful pilots with leading industry players and is forging partnerships across the battery lifecycle—from collection and logistics to disassembly and materials recovery.

Flowatt raises pre-seed round led by PedalStart

EntrackrEntrackr · 14d ago
Flowatt raises pre-seed round led by PedalStart
Medial

Bengaluru-based battery deeptech startup Flowatt Battery Science has raised Rs 2.2 crore in a pre-seed funding round led by PedalStart. The fresh capital will be directed towards technology optimization and completing the proof of concept (POC) of its electric battery design, building strategic alliances with insurers, EV financiers, OEMs, and other key ecosystem stakeholders, and onboarding talent across tech, business development, and operations, Flowatt said in a press release. Co-founded in 2023 by Siddhartha Srivastava, Bikesh Jha, and Vikash Singh, Flowatt leverages IoT-enabled tracking and data analytics along with predictive maintenance and asset management to optimize battery performance and cost efficiency for last-mile delivery fleets. It aims to transform the electric vehicle (EV)-based logistics fleet management landscape in India. Flowatt says that it lowers the upfront EV battery purchase costs for fleet operators with a pay-per-use Battery-as-a-Service (BaaS) model, while simultaneously enabling them to reduce downtime and improve margins with a predictable, fuel-like subscription advantage. The startup is currently focused on powering commercial mobility fleets for the e-commerce and quick-commerce segments. Flowatt claims that it has gained early traction, scaling its flagship BaaS model to nearly 1,500 batteries across multiple Indian cities to date. The startup aims to deploy over 20,000 high-performance batteries under its BaaS offering, achieve over Rs 2.5 crore in monthly recurring revenue (MRR), and expand to over 15 cities across Tier 1 and Tier 2 India by the end of FY 2026–27. “As India accelerates towards large-scale electrification, Flowatt is solving one of the most pressing challenges in the nation’s EV ecosystem today — the economics of battery adoption. By shifting batteries from being a capital-heavy purchase to a flexible service offering, they are removing the biggest pain points in commercial EV adoption,” said Manas Pal and Aditya Darolia, co-founders, PedalStart.

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