Battery Circularity Startup PeakAmp Raises ₹12 Cr Seed Funding Led by Caret Capital

Gurgaon-based PeakAmp, a battery circularity company, raised ₹12 crore (USD ~1.37 million) in seed funding led by Caret Capital. In a press release, PeakAmp explained, the round also saw participation from IIM Ahmedabad Ventures, angel investor Basant Sharma & Group, and other prominent investors in clean-tech, mining, and recycling.

PeakAmp explained, what truly sets it apart is its full-stack model, which combines advanced materials-recovery technology, delivering over 99% efficiency and purity for critical metals such as lithium, nickel, and copper, among others. It added that this is especially important with a growing reverse-logistics network to safely transport and trace end-of-life batteries. The company also shared, "PeakAmp embeds rigorous compliance, end-to-end traceability, and sustainability across the battery value chain, and complements this with diagnostics to assess cell health and enable second-life applications for end-of-life (EOL) batteries."

India’s EV market is expected to surge from $35 billion in 2024 to $111 billion by 2029, with over 80 million EVs hitting the roads. This rapid growth brings with it a massive increase in battery consumption—and an equally critical challenge of managing end-of-life batteries. Today, India faces an 8x shortfall between its existing battery recycling capacity and what will be required in the coming years. PeakAmp aims to bridge this gap—turning waste into value and enabling a cleaner, self-reliant energy future.

About The Company

Founded in 2024 by Vijay Gond and Aditya Sudhanshu, PeakAmp is building India’s first full-stack, tech-enabled. In a short span since inception, PeakAmp has shown impressive traction—executing successful pilots with leading industry players and forging partnerships across the battery lifecycle, from collection and logistics to disassembly and materials recovery.

“My vision is to create India’s benchmark platform for battery recycling, where every battery is responsibly collected, reused – Vijay Gond, Co-Founder, PeakAmp.

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