Battery Tech Startup Lohum Bolts Ahead with $54 Million in Series B Funding, Sets Sights on Market Expansion

• Lohum, a lithium-ion battery pack maker and recycling firm, secures $54 million in Series B funding round for market expansion
• Funding round includes participation from venture firms like Singularity Ventures and Baring Private Equity
• Lohum, founded by Rajat Verma, focuses on eco-friendly battery material production and recycling
• Plans for international expansion and hiring top professionals with the raised capital
• Lohum emphasizes integrated battery lifecycle management system and sustainable energy transition technologies

Battery Tech Startup Lohum: Revolutionizing the Industry with $54 Million in Series B Funding

Lohum, a lithium-ion battery pack maker and recycling firm, has recently made waves in the industry by securing an impressive $54 million in a Series B funding round. This significant financial boost has been made possible by the collaboration of various venture firms, including Singularity Ventures, Baring Private Equity, Cactus Venture Partners, and Venture East, indicating a strong vote of confidence in Lohum’s innovative approach to battery technology.

Market Expansion and Sustainability Goals

With the infusion of fresh capital, Lohum is now gearing up for an extensive market expansion strategy. The startup aims to scale up its recycling operations across India, further solidifying its position as a leader in eco-friendly battery material production. Additionally, the funding will pave the way for Lohum to tap into new energy transition markets in regions like North America, the EU, the Middle East, Africa, and Asia.

Founded by Rajat Verma, Lohum is committed to advancing climate-tech through its low-carbon lithium-ion battery recycling processes. The firm’s emphasis on sustainability is evident in its production of sustainable battery metals and chemicals derived from used batteries, showcasing a holistic approach to battery lifecycle management.

Related Video

Published on: October 8, 2021 Description: Covering the topics of New Battery Breakthrough, New Battery Tech, Nanograf Technologies, Graphene Batteries, and more!

This Startup Says Its New Battery Tech Will Beat Every Rival!!!

Driving Innovation and International Expansion

Rajat Verma, the Founder & CEO of Lohum, expressed enthusiasm about the funding, highlighting its role in accelerating the startup’s international expansion efforts. Verma emphasized that the capital infusion would enable Lohum to hire top talent from India, bolster its workforce, and provide a significant boost to its R&D innovation center, further solidifying its position as an industry leader in sustainable battery technology.

Yash Kela, Founder and Chief Investment Officer of Singularity Ventures, also weighed in on the development, emphasizing the importance of battery scrap as a viable resource for India’s material sourcing needs. Kela commended Lohum for its comprehensive approach to battery lifecycle management, positioning the startup as a key player in the industry’s transition towards sustainability.

Lohum’s Technological Advancements and Sustainable Practices

Lohum prides itself on leveraging cutting-edge technologies to drive sustainable practices in the battery industry. The startup’s integrated approach to battery recycling, raw material refining, and battery repurposing has positioned it as a leading producer of materials crucial for the global energy transition. By focusing on these core technologies, Lohum has been able to create enhanced value for customers while championing environmental stewardship.

Lohum’s recent funding milestone marks a significant step towards realizing its vision of revolutionizing the battery technology landscape. With a strong emphasis on sustainability, innovation, and international expansion, Lohum is poised to make a lasting impact on the industry and drive the transition towards a greener, more sustainable future.