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

EntrackrEntrackr · 4m 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.

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

EntrackrEntrackr · 2y 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 · 2y 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: Battery Smart kicks off pre-Series C funding round

EntrackrEntrackr · 1m ago
Exclusive: Battery Smart kicks off pre-Series C funding round
Medial

Exclusive: Battery Smart kicks off pre-Series C funding round Battery Smart has initiated its pre-Series C funding round. While the size of the round is unknown, Acacia Inclusion, Blume Ventures and PC-SBI Kurashi Visionary Fund have already invested over $7 million. According to its regulatory filings with the Registrar of Companies, the board of Battery Smart has passed a special resolution to allot 12,158 pre-Series C compulsory convertible preference shares at an issue price of Rs 54,407 each for Rs 66 crore (approximately $7.4 million). Acacia Inclusion led the round with an investment of Rs 36.3 crore, followed by PC-SBI Kurashi Visionary Fund with Rs 17.8 crore, while Blume Ventures joined the pre Series C round with Rs 12 crore. The proceeds will be used to support business expansion, capital expenditure, working capital requirements, and other general corporate purposes, as per filings. Battery Smart offers lithium-ion batteries for electric two- and three-wheelers that can be swapped within minutes at its network of swapping stations. Through its battery-as-a-service (BaaS) model, the company enables users, particularly gig economy drivers, to avoid the upfront cost of owning batteries. To date, Battery Smart has raised around $192 million in funding, including its $65 million Series B round and $29 million extended Series B round. Its cap table includes prominent investors such as Tiger Global, Blume Ventures, and Ecosystem Integrity Fund. On the financial front, the company reported a 52% year-on-year increase in operating revenue to Rs 249 crore in FY25, up from Rs 164 crore in FY24. Battery Smart also stated that it has achieved operating break-even and turned EBITDA positive.

Exclusive: Exponent Energy raising $20 Mn in an extended Series B

EntrackrEntrackr · 24d ago
Exclusive: Exponent Energy raising $20 Mn in an extended Series B
Medial

Exclusive: Exponent Energy raising $20 Mn in an extended Series B Exponent Energy is set to raise Rs 182 crore ($20 million) in an extended Series B round co-led by 360 One and TDK Ventures. The round will also see participation from existing investors, including YourNest, Advantedge Technology, Eight Roads Ventures, and Lightspeed India, among others. This will be the first major funding for the company in over two years since it last raised $26.4 million in Series B round in December 2023. The board at Exponent Energy has passed a resolution to approve the issue of 85,135 Series B2 CCPS across two separate filings at an issue price of Rs 21,430 to raise the above-mentioned amount, according to its filing with the Registrar of Companies (RoC). 360 One will lead the round with an investment of Rs 45 crore, followed by TDK Ventures and YourNest Venture Capital, contributing Rs 44.50 crore and Rs 37.82 crore, respectively. Other participants include Advantedge Technology (Rs 19 crore), Eight Roads Ventures (Rs 15.58 crore), 3One4 Capital (Rs 8.9 crore), and Lightspeed India (Rs 6.67 crore), along with contributions from Rohati Private Strategies, Indigo Circle Advisors, and Vivek Kamlesh Doulatani. Exponent Energy has also approved an increase in its ESOP pool by 11,550 options worth around Rs 24.75 crore, taking the total to 62,570 options, along with a 4,000 SAR pool. The combined ESOP and SAR pool is valued at Rs 142.6 crore. Led by Arun Vinayak and Sanjay Byalal, Exponent Energy builds rapid-charging solutions for EVs, enabling full charging in 15 minutes. It partners with OEMs to integrate its e-pack and develops a network of e-pumps to support efficient charging for logistics operators. Prior to this round, Exponent Energy has raised over $44 million to date including its $13 million round raised in August 2022. The Eight Roads Ventures-backed company’s revenue surged over 80% to Rs 30.2 crore in the fiscal year ended March 2025 from Rs 16.4 crore in FY24. During the same period, it narrowed its losses by 66% to Rs 65 crore from Rs 192 crore in FY24. Exponent Energy competes with other battery solution providers in the EV ecosystem such as Lohum, which is in talks to raise a Rs 1,000 crore pre-IPO round, and Battery Smart, which recently kicked off its pre-Series C round with Rs 66 crore in funding. Other players in the space include Nexus Battery, Chargeup, and Statiq among others.

Exclusive: Dhruva Space to kick off pre-Series B with $6 Mn

EntrackrEntrackr · 4m ago
Exclusive: Dhruva Space to kick off pre-Series B with $6 Mn
Medial

Exclusive: Dhruva Space to kick off pre-Series B with $6 Mn Space-tech startup Dhruva Space is raising Rs 51.76 crore ($6 million) in a pre-Series B round led by AVCF1 (Aditum Venture Capital Fund), with participation from 33 other investors. According to the company’s regulatory filings, the board has cleared a special resolution to issue 1 equity share and 553 pre-Series B preference shares at Rs 9,34,429 per share, aggregating to the total fundraise. AVCF1 will anchor the round with Rs 26.16 crore, while Aranya Holding Ventures LLP will contribute Rs 10 crore. The rest of the capital will come from Hyderabad Angel Fund, AR Enterprises, Ativira Technologies, and a clutch of other angel investors. As per Entrackr’s estimates, Dhruva Space’s post-money valuation stands at around $215 million after the round. With this, the Hyderabad-based company has raised over $22 million to date, including its $15 million Series A backed by Indian Angel Network Alpha Fund, Blue Ashva Capital, Silverneedle Ventures, BITEXCO Group, IvyCap Ventures, Mumbai Angels, and the Blume Founders Fund. Founded by Sanjay Nekkanti and Chaitanya Dora, Dhruva Space has launched eight payloads over the past 24 months, including the Thybolt satellites in November 2022 and the LEAP-TD mission on January 1, 2024. The company operates across the space, launch, and ground segments, offering satellites, earth stations, and launch services. India’s private space-tech ecosystem has been on a steady funding upswing, with startups such as Agnikul Cosmos, Skyroot Aerospace, Pixxel, Bellatrix, GlaxEye, Vesta Space, Digantara and InspeCity drawing investor interest. Dhruva Space’s latest round adds to this momentum as the sector continues to expand its capabilities and global relevance.

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

EntrackrEntrackr · 1y 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.

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