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Lohum, a startup specialising in battery technology, obtains $54 million in funding to broaden its presence.




Lithium-ion battery pack producer Lohum announced on Wednesday that it has secured $54 million (approximately Rs 450 crore) in Series B funding from investors including Singularity Growth, Baring Private Equity, Cactus Venture Partners, and Venture East.

The company stated that the fresh capital will be utilised to drive its market expansion initiatives, scale up recycling operations, and venture into new markets for energy transition materials across North America, the EU, the Middle East, Africa, and Asia.

Rajat Varma, Founder and CEO, emphasised, "The funds will accelerate our international expansion, enable us to recruit top professionals from India's talent pool, bolster our workforce, and provide a boost to our industry-leading R&D innovation centre."

Expressing his enthusiasm, Varma reiterated, "We at LOHUM are excited to have the necessary resources for the next phase of our growth. The funds will facilitate our international expansion, enable us to hire top professionals from India, expand our capabilities, and provide renewed momentum to our industry-leading R&D innovation centre."

Lohan offers a comprehensive, in-house ecosystem covering battery recycling, battery repurposing, refining of transition materials, and the production of Cathode Active Material (CAM), which is integral to battery lifecycle management.

Yash Kila, Chief Investment Officer at Singularity Growth, commented, "We have observed the company's evolution from merely a second-life company to a fully-fledged material manufacturer, focusing on materials such as nickel, cobalt, and Pre-CAM materials."

Lohan is currently the largest sustainable energy transition materials producer in India, leveraging integrated battery recycling, raw material refining, and battery repurposing processes.


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