PeakAmp raises Rs 12 crore in funding to power the future of battery recycling

PeakAmp, a battery circularity startup, has raised Rs 12 crore (approx $1.37 million) in a seed funding round led by Caret Capital, with participation from IIM Ahmedabad Ventures, renowned angel investor Basant Sharma and Group, and other prominent investors in cleantech, mining, and recycling.

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

The startup aims to establish a circular economy for batteries, leveraging strategic partnerships and cutting-edge technology. 

“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,” said Vijay Gond.

The startup claims to have executed successful pilots with leading industry players and forging partnerships across the battery lifecycle, from collection and logistics to disassembly and materials recovery. 

“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,” said Karan Mittal, Managing Partner, Caret Capital 

“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,” said Pankaj Bansal, Managing Partner, Caret Capital.

Unlike others, PeakAmp's full-stack model combines advanced materials recovery technology, delivering over 99% efficiency and purity for critical metals such as lithium, nickel, and copper, with a growing reverse logistics network to safely transport and trace end-of-life batteries.

The startup embeds rigorous compliance, end-to-end traceability and sustainability across the battery value chain, and complements this with state-of-the-art diagnostics to assess cell health and enable second-life applications for EOL batteries.