Angel Investments
Lithium-ion battery recycling co BatX raises $1.6 M from JITO Angel Network, others
Lithium-ion battery recycling startup BatX Energies Pvt Ltd has raised USD 1.6 million (INR 12.5 crore) in a seed funding round led by JITO Angel Network. The family offices of the promoters of Mankind Pharma, Excel Industries (Kamaljyot Investments), and Haldiram's also participated in the funding round along with existing investors Rohit Chanana from Sarcha Advisors and Anmol Jaggi of BluSmart Electric. The company plans to invest USD 50 million (over INR 390 crore) over the next 24 months in setting up lithium-ion battery recycling units in India and abroad.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
