# Lohum Cleantech Private

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/lohum-cleantech-private

- Industry: Energy Storage & Batteries
- Headquarters: India
- Website: www.lohum.com
- Total disclosed funding: $72M
- Latest round: Series B (Apr 8, 2024)
- Investors on record: 11

## About

Lohum Cleantech Private Limited, based in India, specializes in lithium-ion battery recycling and sustainable solutions, actively contributing to the transition towards a circular economy in energy storage.Lohum Cleantech Private Limited focuses on lithium-ion battery recycling and repurposing. Founded in 2018 in India by Justin Lemmon and Rajat Verma, the company has successfully completed 10 deals, with its most recent Series B funding round occurring on April 8, 2024. The firm raised INR 1.19 billion, led by Singularity AMC, with participation from various investors including Asiana Alternative Investment Fund and Baring Private Equity Partners. Rajat Verma serves as the CEO.LOHUM specializes in lithium-ion battery recycling, repurposing, and low-carbon refining. Its patented NEETM™ lithium-ion battery recycling technology enables the recovery of critical battery raw materials like lithium, cobalt, and nickel, essential for producing Cathode Active Materials (CAM) and Anodes. The company serves a diverse clientele, including OEMs and battery manufacturers, with services aimed at enhancing sustainability through efficient recycling. LOHUM operates in multiple regions, including Asia, North America, and Europe, supporting a global circular economy in battery manufacturing and energy storage solutions.In 2022, LOHUM reported a revenue of INR 14,288,627.90 and an EBITDA of INR 1,818,599. The company's revenue streams primarily stem from B2B transactions with OEMs and battery manufacturers, structured around long-term partnerships focused on sustainable solutions for recycled batteries.In April 2024, Lohum Cleantech Private Limited raised INR 1.19 billion in Series B funding, aimed at furthering marketing efforts, general corporate operations, and capital expenditures. The company is expected to launch new products designed to enhance battery recycling efficiency while expanding into new geographic markets, specifically targeting regions within Asia and Europe by 2025. The recent funding will support these initiatives, aligning with Lohum's growth strategy.

## Funding rounds

- Series B, Apr 8, 2024, $14M — Baring Private Equity Partners, Singularity AMC, Stride Ventures, Ravi Modi Family Trust, Cactus Partners, Chartered Finance & Leasing Ltd, Vyoman India Private Limited, Asiana Alternative Investment Fund
- Series B, Feb 9, 2024, $23M — Baring Private Equity Partners, Ventureast, Singularity AMC, Stride Ventures, Chhattisgarh Investments, Cactus Partners
- Series B, May 15, 2023, $20M — Ventureast, Baring Private Equity Partners, Stride Ventures, Chhattisgarh Investments, Cactus Partners, ARB Capital
- Series A, Jan 12, 2022, $11M — Ventureast, Baring Private Equity Partners, Stride Ventures, Chhattisgarh Investments, Cactus Partners
- Series A, Aug 3, 2021, $3.5M — Baring Private Equity Partners, Chhattisgarh Investments

## Investors

- Baring Private Equity Partners — Series A, Series B
- Chhattisgarh Investments — Series A, Series B
- Ventureast (https://capitalatlas.ai/funds/ventureast) — Series A, Series B
- Stride Ventures — Series A, Series B
- Cactus Partners (https://capitalatlas.ai/funds/cactus-partners) — Series A, Series B
- ARB Capital (https://capitalatlas.ai/funds/arb-capital) — Series B
- Singularity AMC (https://capitalatlas.ai/funds/singularity-amc) — Series B
- Ravi Modi Family Trust — Series B
- Chartered Finance & Leasing Ltd — Series B
- Vyoman India Private Limited — Series B
- Asiana Alternative Investment Fund — Series B