New Delhi – PeakAmp, a pioneering battery circularity startup, has successfully raised ₹12 crore ($1.37 million) in seed funding led by Caret Capital, with strategic participation from IIM Ahmedabad Ventures, renowned angel investor Basant Sharma and Group, and other prominent cleantech investors. This investment marks a significant milestone in India’s emerging circular economy for electric vehicle batteries, positioning PeakAmp to address the critical challenge of end-of-life battery management in the country’s rapidly expanding EV ecosystem.
Addressing India’s Critical Battery Recycling Gap
Founded in 2024 by Vijay Gond and Aditya Sudhanshu, PeakAmp emerges at a crucial juncture when India faces an 8× shortfall between existing battery recycling capacity and future requirements. With India’s EV market projected to surge from $35 billion in 2024 to $111 billion by 2029, and over 80 million EVs expected on roads, the challenge of managing end-of-life batteries becomes increasingly urgent.
The startup’s full-stack approach spans the entire battery lifecycle, from safe collection and reverse logistics to second-life repurposing and high-purity material recovery. PeakAmp’s technology-driven platform integrates automated disassembly processes with advanced materials recovery systems, achieving over 99% efficiency and purity for critical metals including lithium, nickel, and copper.
Strategic Technology and Operational Framework
PeakAmp’s differentiated value proposition centers on its comprehensive end-of-life battery management platform that combines technological innovation with strategic partnerships across the recycling value chain. The company’s reverse logistics network ensures safe transportation and traceability of end-of-life batteries, while its diagnostic capabilities assess cell health to enable optimal second-life applications.
“Our mission goes beyond waste management—we aim to redefine how India looks at end-of-life batteries,” said Vijay Gond, Co-founder of PeakAmp. “Circularity is not optional; it’s essential for energy independence and global leadership in sustainable innovation.”
The startup embeds rigorous compliance standards and end-to-end traceability throughout the battery value chain, addressing both regulatory requirements and industry demand for sustainable resource recovery. This comprehensive approach positions PeakAmp to serve multiple stakeholders including EV manufacturers, battery producers, fleet operators, and recycling facilities.
Investor Confidence in Circular Economy Solutions
The funding round’s leadership by Caret Capital reflects growing investor recognition of battery recycling as a critical enabler of India’s clean energy transition. “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,” said Karan Mittal, Managing Partner at Caret Capital.
Pankaj Bansal, Managing Partner at Caret Capital, emphasized the strategic importance of circular economy solutions: “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.”
Commercial Traction and Expansion Strategy
Despite its recent founding, PeakAmp has demonstrated impressive early traction through successful pilot programs with leading industry players and strategic partnerships across collection, logistics, disassembly, and materials recovery segments. The company plans to utilize the fresh capital to strengthen its technology stack, scale its reverse logistics network, and accelerate commercial rollouts.
The funding will enable PeakAmp to expand its collection and segregation capabilities while enhancing its materials recovery technology to meet growing demand from India’s expanding EV ecosystem. The company’s focus on establishing partnerships across the battery lifecycle reflects its strategy to build a comprehensive platform that addresses multiple aspects of battery circularity.
