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[Funding alert] Metastable Materials Secures Seed Funding Led by Surge, Others

Metastable Materials, a startup focused on recycling lithium-ion batteries, has raised seed funding, with participation from many investors.

Metastable Materials, a startup focused on recycling lithium-ion batteries, has raised seed funding, with participation from many investors.

The funding round is being led by Surge, Sequoia Capital India, and Southeast Asia’s rapid scale-up program. Additionally, deep-tech VC Speciale Invest, Theia Ventures, and other angel investors are also taking part in the funding round, as per reported by The Economic Times.

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To meet its growing operations, the new funding will be channeled into recruitment to support Metastable’s manufacturing and industrial engineering functions, as well as for managing its supply chain and day-to-day operations, the company said.

Shubham Vishvakarma, founder, of Metastable Materials, said, “Natural resources are finite, and our collective vision of a more sustainable future. will depend on our ability to first recycle and second, to do so in a way that is cost-efficient, scalable, and environmentally friendly. We’re proud to be pioneering a solution that safeguards our future, from providing a sustainable supply of metals for the manufacture of EV batteries to setting new benchmarks for the way metals are recycled, paving the way for new technologies and innovations that will have the power to truly move the needle in fighting climate change.”

In addition to its innovative recycling technology, Metastable is also working on developing storage and packaging solutions to facilitate the safe transport of used batteries from consumers to recycling facilities. Presently, the methods used in India for storage and transportation do not always adhere to the highest international standards, and the packaging materials used are often unregulated and flammable. In contrast, Metastable’s packaging is specially designed with a multi-layered, heat-resistant structure that mitigates the risk of fire, enabling the safe transportation of batteries in bulk.

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Vishesh Rajaram, Managing Partner, Speciale Invest, said, “Battery materials are both scarce and expensive, which makes re-mining critical metals from batteries a business necessity. Metastable Materials builds on its founders’ domain and proprietary approach to re-mining batteries that are chemical-free and capital efficient, as a result of low capital and operating expenditure with industry-class yields. We strongly believe re-mining metals from batteries is the path to solving for self-sufficiency of rare metals for India.”

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Priya Shah, General Partner, Theia Ventures, said, “We are thrilled to partner with Metastable Materials on their exciting journey as they build an innovative, scalable, and greener process for rare material extraction from electronic waste. The business is excellently positioned to cater to the rapidly growing demand for these recycled materials into batteries for electric vehicles, which forms an important part of the climate tech, decarbonization, and circular economy agenda for India and globally.”

About Metastable Materials

With its patented technology, the up-and-coming start-up Metastable Materials aims to upend the recycling sector. With a recovery rate of over 90% for all of the constituent materials, the metal extraction methodology is intended to significantly lower capital and operational expenditure for recycling lithium-ion batteries.

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