Total amount raised
$84.4 Millions
Latest funding date
3/1/2024
Location
Lohum has successfully raised capital through multiple funding rounds, attracting a diverse group of investors. The company specializes in lithium-ion battery recycling, repurposing, and low-carbon refining.
Keep reading to explore the intricacies of Lohum's fundraising journey and the investors backing this innovative platform.
What Is Lohum?
Lohum, founded in 2018, is a pioneering company in the field of lithium-ion battery recycling, repurposing, and low-carbon refining. Headquartered in Greater Noida, India, with additional locations in the USA and EU, Lohum is committed to advancing climate-tech and fostering a circular economy.
The company was established to address the growing need for sustainable battery materials and to reduce dependency on mining. Lohum's integrated battery lifecycle management solutions include recycling, repurposing, and producing sustainable battery raw materials.
With a workforce of 600 employees, Lohum continues to innovate and expand its impact on the global battery industry, contributing significantly to environmental sustainability and resource efficiency.
How Much Funding Has Lohum Raised?
- Series B Funding
- Amount Raised: $54 million
- Date: March 2024
- Lead Investors: Singularity Growth, Baring Private Equity, Cactus Venture Partners, Venture East
- Valuation at Round: $500 million
- Motivation Behind the Round: To expand market presence globally, scale up recycling operations in India, and enter new markets in North America, the EU, the Middle East, Africa, and Asia.
- Series B Funding
- Amount Raised: $23 million
- Date: February 2024
- Lead Investors: Baring Private Equity Partners India
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and expansion plans.
- Venture Round
- Amount Raised: $7 million
- Date: January 2021
- Lead Investors: Baring Private Equity Partners India
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the company's recycling and repurposing capabilities.
Total amount raised: $84 million. Current valuation: $500 million.
Key Investors
- Singularity Growth
- Details: Singularity Growth is a Mumbai-based investment firm led by Chief Investment Officer Yash Kela. The firm focuses on high-growth companies with global potential.
- Investment Focus Areas: Technology, sustainable energy, high-growth companies.
- Notable Investments: CaratLane, Lohum.
- Baring Private Equity
- Details: Baring Private Equity is a global private equity firm that invests in a variety of sectors. They have a significant presence in both developed and emerging markets.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Not publicly disclosed.
- Cactus Venture Partners
- Details: Cactus Venture Partners is a venture capital firm that invests in early to mid-stage companies. They focus on innovative solutions with scalable potential.
- Investment Focus Areas: Early to mid-stage companies, innovative solutions, scalable businesses.
- Notable Investments: Not publicly disclosed.
- Ventureast
- Details: Ventureast is a venture capital firm that focuses on technology-driven businesses in India. They have a strong track record of supporting high-growth companies.
- Investment Focus Areas: Technology, high-growth businesses, India-focused investments.
- Notable Investments: Not publicly disclosed.
- Stride Ventures
- Details: Stride Ventures is a venture debt firm that provides financial support to high-growth companies. They participated in Lohum's funding round through debentures.
- Investment Focus Areas: Venture debt, high-growth startups, technology.
- Notable Investments: Not publicly disclosed.
What's Next for Lohum?
Lohum's future is brimming with opportunities as it aims to expand its market presence globally, including North America, the EU, the Middle East, Africa, and Asia. The company plans to scale up its recycling operations in India and establish new facilities in Tamil Nadu, the UAE, the US, and Europe. These expansions are set to capitalize on the growing demand for sustainable energy transition materials and battery lifecycle management.
With a successful Series B funding round raising $54 million, Lohum is well-positioned for future fundraising opportunities. The company's impressive growth trajectory and technological advancements in battery recycling and repurposing make it an attractive candidate for additional investment rounds. However, Lohum may face challenges such as managing international market expansion, ensuring a steady supply of raw materials, and navigating regulatory environments across different regions.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay's platform to access comprehensive fundraising data on companies like Lohum and gather other critical business insights.
Sign up for free on Clay and start making data-driven decisions today.
