Battery tech startup LOHUM raises Rs 131.4 Cr in Pre-Series C round

Delhi-based LOHUM, a battery tech startup, is set to raise Rs 131.4 crore (about $15 million) in a pre-Series C funding round led by Growth I9 Opportunity LLP.

The round also saw participation from existing investors, including Baring Private Equity, Singularity Growth, Asiana Fund, and others.

According to its filing with the Registrar of Companies, Lohum’s board approved issuing 748 pre-Series C CCPS at a price of ₹17,56,714 each to raise the stated amount.

Read also- Synthio Labs raises $5 Mn funding led by Elevation Capital

Growth I9 Opportunity LLP will lead the round with ₹31.8 crore ($3.6 million). Baring Private Equity will invest ₹25.12 crore, and Samriddhi Sehgal will put in ₹13.35 crore. Asiana Fund and Rainbow Investments will add ₹12.12 crore and ₹9.83 crore, respectively. The rest of the amount will come from Singularity Growth and 18 other investors, including several angel investors.

This funding comes just a few months after the company raised USD 54 million in its Series B round in March 2024.

The company said in the filing that the funds will be used for expansion, including capital expenses, marketing, and general corporate purposes.

About LOHUM

Founded in 2018, Lohum makes next-generation lithium-ion mobility and energy solutions by extending the life of batteries through reuse and recycling. The company says it is one of the largest producers of sustainable energy-transition materials, supported by its integrated battery recycling, raw-material refining, and repurposing operations.

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The company reported a 72% year-on-year rise in operating revenue to ₹529 crore in FY24, and its profit jumped more than three times to ₹28 crore. It has not yet shared its FY25 results.

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