PeakAmp has raised ₹12 crore (USD ~1.37 million) in seed funding led by Caret Capital, with participation from IIM Ahmedabad Ventures, Basant Sharma and Group, and other investors.

Founded in 2024 by Vijay Gond and Aditya Sudhanshu, PeakAmp is developing India’s first full-stack, tech-enabled solution for the collection, segregation, and recycling of lithium-ion batteries, including second-life repurposing and high-purity material recovery.

The company has executed successful pilots and established partnerships across the battery lifecycle, covering collection, logistics, disassembly, and materials recovery. PeakAmp’s technology delivers over 99% efficiency and purity in recovering critical metals such as lithium, nickel, and copper.

India’s EV market is expected to grow from $35 billion in 2024 to $111 billion by 2029, with more than 80 million EVs anticipated on the roads. Currently, India faces an 8x shortfall in battery recycling capacity compared to future needs, and PeakAmp aims to bridge this gap to support a cleaner, self-reliant energy future.

Vijay Gond, Co-Founder, PeakAmp, said, “My vision is to create India’s benchmark platform for battery recycling, where every battery is responsibly collected, reused, and recycled through data-driven processes. Our mission is not only to tackle battery waste, but to set global standards for sustainable resource recovery and make circularity integral to India’s clean energy future, propelling India towards true energy sovereignty and a global leadership role in circular innovation.”

Karan Mittal, Managing Partner, Caret Capital, said, “PeakAmp’s tech-enabled, partnership-driven model is built for scale. Their ability to extract critical materials efficiently has the potential to make them a key player in India’s push for energy independence. As EV adoption grows, Battery Recycling will play a crucial role in reducing import dependence and building a resilient domestic battery ecosystem.”

Pankaj Bansal, Managing Partner, Caret Capital, commented, “Circular economy solutions are no longer optional—they’re mission-critical. With PeakAmp, we’re backing a team that’s solving one of the most urgent and under-addressed challenges of the clean energy transition: responsible battery disposal and resource recovery. This is how we build a regenerative future.”

Also Read: SnapE Cabs Raises $2.5 Mn in Bridge Round Led by Inflection Point Ventures

Subscribe & Stay Informed

Subscribe today for free and stay on top of latest developments in EV domain.