Battery Tech Startup LOHUM to Raise INR 131.4 Cr in Pre-Series C Round The investment will be led by Growth I9 Opportunity LLP, along with participation from existing investors such as Baring Private Equity, Singularity Growth, Asiana Fund and several others.

Delhi based battery tech startup LOHUM is set to raise INR 131.4 crore (about USD 15 million) in a pre Series C funding round.

The investment will be led by Growth I9 Opportunity LLP, along with participation from existing investors such as Baring Private Equity, Singularity Growth, Asiana Fund and several others.

This funding comes months after the company secured USD 54 million in its Series B round in March 2024.

According to filings with the Registrar of Companies, the board has approved the issue of 748 pre Series C compulsorily convertible preference shares at an issue price of INR 17,56,714 each. Growth I9 Opportunity LLP will contribute INR 31.8 crore, while Baring Private Equity will invest INR 25.12 crore.

Investor Samriddhi Sehgal will put in INR 13.35 crore, and Asiana Fund and Rainbow Investments are set to invest INR 12.12 crore and INR 9.83 crore, respectively. Singularity Growth and 18 other investors, including several angel investors, will cover the remaining amount.

The company stated in the filing that the capital will be deployed for expansion linked to capital expenditure, marketing needs and general corporate activities.

Founded in 2018, LOHUM builds advanced lithium ion mobility and energy solutions. The brand focuses on giving batteries multiple lives through reuse and extends battery materials through recycling. It says this model helps produce sustainable energy transition materials supported by an integrated system of battery recycling, raw material refining and repurposing operations.

Data from startup intelligence platform TheKredible shows that LOHUM has raised more than USD 120 million so far, with Baring Equity, Singularity Growth and Cactus Partners on its cap table.