PeakAmp, an emerging battery circularity startup, has raised ₹12 crore ($1.37 million) in seed funding, led by Caret Capital, with strategic participation from IIM Ahmedabad Ventures, angel investor Basant Sharma and Group, and other leading cleantech investors. This funding milestone strengthens India’s growing circular economy for electric vehicle (EV) batteries, enabling PeakAmp to address the urgent challenge of end-of-life battery management in the country’s accelerating EV landscape.
Tackling India’s Battery Recycling Deficit
Founded in 2024 by Vijay Gond and Aditya Sudhanshu, PeakAmp comes at a pivotal time when India is facing an eightfold gap between current battery recycling capabilities and future demand. With the Indian EV market projected to grow from $35 billion in 2024 to $111 billion by 2029, and over 80 million EVs anticipated on the roads, effective end-of-life battery solutions are critical.
PeakAmp offers afull-stack platform that manages the battery lifecycle—from safe collection and reverse logistics to second-life reuse and advanced material recovery. The startup’s technology integrates automated disassembly systems and high-efficiency recovery processes, achieving over 99% purity and efficiency in extracting key materials such as lithium, nickel, and copper.
A Technology-Driven, End-to-End Solution
What sets PeakAmp apart is its integrated approach to end-of-life battery management, combining technological innovation with strategic partnerships across the recycling ecosystem. Its reverse logistics network ensures safe battery transport and full traceability, while its diagnostic tools evaluate battery cell health for potential 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.”
By embedding strict compliance standards and ensuring traceability across the battery value chain, PeakAmp meets both regulatory requirements and the growing industry need for sustainable materials recovery. Its platform is designed to serve a wide range of stakeholders, including EV manufacturers, battery producers, fleet operators, and recycling companies.
Strong Investor Backing for Circular Economy
The funding led by Caret Capital underscores increasing investor focus on battery recycling as a cornerstone of India’s clean energy future.
“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, also a Managing Partner at Caret Capital, added, “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.”
Scaling Operations and Future Strategy
Though recently founded, PeakAmp has already achieved strong early momentum through pilot projects with key industry players and partnerships across collection, logistics, disassembly, and materials recovery. The newly raised capital will be used to enhance its technology infrastructure, grow its reverse logistics network, and accelerate commercial deployments.
The funding will also support the expansion of battery collection and segregation capabilities and improve materials recovery technology to keep pace with rising EV adoption in India. By building alliances throughout the battery lifecycle, PeakAmp aims to offer a robust platform that holistically addresses the challenges of battery circularity.
