🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Exclusive: Battery tech startup LOHUM to begin pre-series C with $15 Mn

EntrackrEntrackr · 5d ago
Exclusive: Battery tech startup LOHUM to begin pre-series C with $15 Mn
Medial

Exclusive: Battery tech startup LOHUM to begin pre-series C with $15 Mn Battery tech startup LOHUM is set to raise Rs 131.4 crore ($15 million) in a pre-Series C round led by Growth I9 Opportunity LLP, with participation from Baring Private Equity, Singularity Growth, Asiana Fund, and others. This funding follows its $54 million Series B round raised in March 2024. The Lohum’s board passed a resolution to approve the issue of 748 pre-Series C CCPS at an issue price of Rs 17,56,714 each to raise the amount mentioned above, according to its filing with the Registrar of Companies. Growth I9 Opportunity LLP will lead the round with Rs 31.8 crore ($3.6 million), followed by Baring Private Equity at Rs 25.12 crore. Samriddhi Sehgal will also join with an investment of Rs 13.35 crore, while Asiana Fund and Rainbow Investments will contribute Rs 12.12 crore and Rs 9.83 crore, respectively. The remaining amount will be covered by Singularity Growth and 18 other investors, including a clutch of angel investors. According to the filing, the funds will be used for capital expenditure, marketing, and general corporate purposes. As per Entrackr’s estimates, the firm will be valued at around Rs 4,265 crore or around $485 million post-money. Founded in 2018, LOHUM builds next-gen Li-ion mobility and energy solutions by giving batteries multiple lives through reuse and extending battery materials indefinitely through recycling. It claims to be one of the largest producers of sustainable energy-transition materials. According to startup data intelligence platform TheKredible, Lohum has raised over $120 million to date, having Baring Equity, Singularity Growth, and Cactus Partners among the firms on its cap table. The Delhi-based company posted a 72% year-on-year increase in operating revenue to Rs 529 crore in FY24, while its profits surged over 3X to Rs 28 crore. The company has yet to disclose its FY25 numbers.

Related News

Exclusive: Battery tech startup Lohum raises $14.5 Mn more in Series B

EntrackrEntrackr · 1y ago
Exclusive: Battery tech startup Lohum raises $14.5 Mn more in Series B
Medial

Lohum Cleantech, a producer of clean energy transition materials through battery recycling and repurposing, has raised Rs 119 crore (approximately $14.5 million) as a part of its ongoing Series B round. The board at Lohum has passed a special resolution to issue 844 Series B2 CCPS at an issue price of Rs 14,13,632 each to raise Rs 119.31 crore, its regulatory filing accessed from the Registrar of Companies shows. Singularity Growth led the tranche with Rs 55 crore while Vyoman India and Baring Private Equity poured in Rs 11 crore and Rs 10 crore, respectively. Angel investors Mukul Mahavirparasad Agarwal and Madhuri Madhusudan invested Rs 11 crore and Rs 10 crore each. The company has passed a separate board resolution to issue 2,501 debentures to Stride Ventures debt fund to raise Rs 25 crore. Lohum will use these proceeds for the capital expenditures, marketing, and general corporate purposes of the company as per the business plan approved by the board, the company said in the filing. Following the fresh funds, Baring Private Equity holds 5.58% while Cactus Partners and Singularity Growth Opportunities command 2.89% and 1.62%, respectively, in the firm. According to the startup data intelligence platform TheKredible, the company has been valued at around Rs 3,470 crore or $422 million post-allotment. The company had previously raised $7 million in January 2021. It has already raised $23 million as part of the series B, which kicked in August last year. As per media reports, it was in talks to raise $100 million in Series B. Lohum claims to be one of the largest producers of sustainable energy transition materials through integrated battery recycling & raw material refining and battery repurposing. As per Lohum, its lithium-ion battery material recycling and extraction technology regenerates top-quality materials and produces zero waste. It repurposes EV batteries to make second-life energy storage systems (ESS) for renewable energy storage and grid stabilization. Lohum has shown an impressive financial performance with its revenue surging 2.9X to Rs 308 crore in FY23 from Rs 106 crore in FY23. The company also posted a profit of Rs 8.88 crore in the same period.

Battery tech startup LOHUM raises $54 Mn in Series B

EntrackrEntrackr · 1y ago
Battery tech startup LOHUM raises $54 Mn in Series B
Medial

Battery tech startup LOHUM has announced that it raised $54 million in a Series B funding from Singularity Growth, Baring Private Equity, Cactus Venture Partners, and Venture East among other new and existing venture firms. LOHUM will use these funds to fuel its market expansion, scaling up recycling operations across India, the firm said in a press release. It will also expand to new energy transitioning markets in North America, the EU and MENA region. The firm has already raised more than $37 million across multiple tranches and was valued at around $422 million post-allotment of the latest tranche. Entrackr had exclusively reported both the developments. Lohum claims to be one of the largest producers of sustainable energy transition materials through integrated battery recycling & raw material refining and battery repurposing. The company also said that its lithium-ion battery material recycling and extraction technology regenerates top-quality materials and produces zero waste. The company repurposes EV batteries to make second-life energy storage systems (ESS) for renewable energy storage and grid stabilization. As of early 2024, LOHUM plans to have an in-house ecosystem of battery recycling, battery repurposing, transition materials refining, Cathode Active Material (CAM), i.e. integrated battery lifecycle management. Lohum also performed well during the last fiscal year as its revenue surged nearly three-fold to Rs 308 crore from Rs 106 crore in FY23. The company posted back to back profits in the past three fiscal years. Check startup data intelligence platform TheKredible for more details.

Exclusive: Zypp Electric raises $6.5 Mn in ongoing Series C

EntrackrEntrackr · 10m ago
Exclusive: Zypp Electric raises $6.5 Mn in ongoing Series C
Medial

Exclusive: Zypp Electric raises $6.5 Mn in ongoing Series C B2B delivery and shared mobility startup Zypp Electric is raising Rs 55.4 crore ($6.5 million) from 16 investors, which seems to be part of the ongoing Series C funding round for the Gurugram-based company. The board at Zypp Electric has passed a special resolution to issue 564 Series C2 CCPS at an issue price of Rs 9,83,005 each to raise Rs 55.4 crore, its regulatory filing accessed from the Registrar of Companies shows. Individuals including Ajay Kumar Aggarwal, Samir Goenka, Narinder Bajaj, Kapil Kriplani, Vega Industries, Gagan Khanna, Supersonic Carrier, Nirmal K Bathwal, and 10 other investors will cumulatively participate during the investment. According to Entrackr’s estimates, the company will be valued at around $335-350 million. This seems to be part of an ongoing round, and the valuation may vary with further injection. According to the company, it may raise up to $50 million in the Series C fundraise. In May last year, Zypp kicked off the new round with a $15 million tranche led by ENEOS. The company was backed by IAN Fund, 9 Unicorns (now 100 Unicorns), Anthill Ventures, Eiman Abdullah Mahfood Al Qatar, and others. Founded by Akash Gupta and Rashi Agrawal in 2017, Zypp Electric is an EV-as-a-service platform offering electric vehicle rentals along with delivery services through its e-scooter fleet for gig workers. The company claims to have around 22,000 active vehicles in its fleet, with 15,000 in Delhi NCR, 4,000 in Bengaluru, and 1,200 in Mumbai. Zypp Electric witnessed significant 2.6X growth, with its operating revenue crossing Rs 290 crore during the fiscal year ended March 2024. However, in pursuit of scale, the losses for the firm rose 2.2X to Rs 91 crore in the same period.

Battery tech startup Lohum raises $23 Mn in ongoing Series B

EntrackrEntrackr · 1y ago
Battery tech startup Lohum raises $23 Mn in ongoing Series B
Medial

Battery pack manufacturing and recycling startup Lohum Cleantech has raised $23 million in its Series B round led by Baring Private Equity Partners. This round materialized in August last year and seems to be an ongoing one as the firm is likely to raise more capital. The round also saw the participation of Cactus Partners, Chhattisgarh Investment Limited, Ventureast Proactive Fund, Michael B Schwab Living Trust, Singularity Growth, Stride Ventures, and several angel investors including, Anish Vora, Kunal Babani, Manas Tondon, et al. The board at Lohum has passed a special resolution to issue 1,993 Series B1 CCPS at an issue price of Rs 9,42,467 each to raise Rs 188 crore, its regulatory filing sourced from the Registrar of Companies shows. Baring Private Equity led the round with Rs 70 crore while Cactus Partners and Ventureast Proactive Fund poured in Rs 30 crore and Rs 32 crore, respectively while the rest came from other investors. The seven-year-old company will use these funds to meet capital expenditures, marketing, and general corporate business as decided by the board of directors, the filing added. Following the fresh proceeds, Baring Equity holds 5% of the company while Cactus Partners and Ventureast Proactive Fund command 3.1% and 3.2% stake respectively. As per startup data intelligence platform TheKredible, the company has been valued at around Rs 2,188 crore or $267 million post-allotment. Lohum is a battery pack producer that constructs lithium-ion batteries by assembling cells sourced from various countries, including China and Taiwan. These batteries find application in electric vehicles (EVs) and stationary energy storage solutions (ESS), such as those utilized in telecommunication towers. The company had previously raised $7 million in January 2021 and it was reportedly in talks to raise $100 million in Series B round. Lohum showed an impressive financial performance surging its revenue 2.9X year-on-year to Rs 308 crore in FY23 from Rs 106 crore in FY23. The company also posted a profit of Rs 8.88 crore in the same period.

Volt14 raises $1.87 Mn in pre-Series A round led by Blume Ventures

EntrackrEntrackr · 6m ago
Volt14 raises $1.87 Mn in pre-Series A round led by Blume Ventures
Medial

Volt14 raises $1.87 Mn in pre-Series A round led by Blume Ventures Battery technology startup Volt14 has secured $1.87 million in its pre-Series A funding round led by Blume Ventures. Beyond Next Ventures, Spectrum Impact. Shashank Pathak 05 May 2025 11:12 IST Follow Us New Update Battery technology startup Volt14 has secured $1.87 million in its pre-Series A funding round led by Blume Ventures. Beyond Next Ventures, Spectrum Impact, Supermorpheus, and returning investor Cocoon Capital have also participated. The total funding raised by the Bengaluru-based startup now stands at $4.02 million. The proceeds will be used to scale up manufacturing and expand its team. Founded in 2019 by Animesh Kumar Jha, Volt14 focuses on developing silicon-based anode materials for lithium-ion batteries. It has also developed an in-house cylindrical battery cell format demonstrating energy density enabled by its silicon anode. Volt14 claims that its technology increases silicon content in anodes while maintaining performance levels and is currently being evaluated by multiple battery cell manufacturers. According to market research, the lithium-ion battery sector is projected to exceed $300 billion by 2034, driven by electric vehicle adoption and energy storage expansion. Blume Ventures, the lead investor in this round, is also one of the early backers of Battery Smart, which is the most funded startup in the space.

Download the medial app to read full posts, comements and news.