(Image Source: Shutterstock)
GreenTech raised ₹30 crore in its first outside funding. Domestic venture capital firms and angel investors put up the seed capital for the clean energy startup. This money values the company around ₹120 crore after the investment. It gives them cash to build products and find customers.
The startup started work 18 months ago. Now this funding lets them test prototypes, hire engineers, and run trials with industrial companies. Investors liked the company’s battery recycling tech that handles India’s growing electronic waste problem.
What GreenTech Does and Their Tech
Battery Metal Recovery Process
GreenTech pulls valuable metals from used lithium-ion batteries using a wet chemical method called hydrometallurgy. They target batteries from electric vehicles, phones, laptops, and factory power storage. Current plant handles 500 tonnes per year with plans to hit 5,000 tonnes by end of 2026.
Their process recovers 95 percent of lithium, cobalt, nickel, and manganese. Traditional methods only get 60-70 percent. GreenTech uses less energy and creates no dangerous waste, which beats older recycling approaches. They sell recovered metals back to battery makers who want a local supply.
How They Make Money
The company earns through three main ways:
- Selling recovered metals to battery factories
- Contracts to recycle batteries for EV makers
- Carbon credits for avoiding emissions
Early customers include electric scooter companies and solar storage providers. Monthly sales hit ₹1.2 crore in late 2025 from processing 120 tonnes of battery scrap. They signed three-year deals that guarantee 70 percent of plant capacity through 2027.
Where the Money Goes and Growth Plans
How They Plan to Spend the Cash
The ₹30 crore breaks down like this:
- 40 percent (₹12 crore) goes to research on improved recycling
- 30 percent (₹9 crore) builds out the Pune factory
- 20 percent (₹6 crore) hires sales staff and opens regional offices
- 10 percent (₹3 crore) covers day-to-day operations
Managers expect to break even by middle of FY27 with 25 percent profit margins. They plan to build smaller processing plants near big EV areas in Tamil Nadu and Gujarat by mid-2026.
Competition and Market Size
India produces 1.2 million tonnes of battery waste yearly. That number should reach 6 million tonnes by 2030. Right now, recycling handles less than 5 percent of the waste. Government rules say battery makers must source 30 percent of materials locally by 2026.
GreenTech faces small local recyclers plus big foreign companies moving into India. Early customer contracts and special metal separation methods give them some protection. They hold temporary patents on the process.
Who Invested and Why It Matters Now
Main Backers in the Round
A climate technology venture fund led the investment. Family offices and industry-focused angels joined. Investors pointed to 40 percent gross margins and proven technology. Company founders and team still own 75 percent after the deal.
Government Support and Industry Trends
The recent budget gave ₹19,700 crore for green hydrogen and batteries. Recycling plants qualify for 20 percent government subsidies. State governments offer cheap land in industrial areas.
GreenTech sits where electric vehicles, waste recycling rules, and mineral supply needs overlap. India’s goal of 30 percent EVs by 2030 drives demand. The funding lets them grow during this high-demand time.
Next Steps and Possible Future
The company laid out a three-year plan to reach ₹250 crore revenue and make profits. Series A funding targeted for late 2027 at $150-200 million valuation. Battery giants like LG Chem, Panasonic, or Reliance might buy them later.
This ₹30 crore raise shows investors see money in battery recycling. GreenTech is one of 15 early climate tech companies getting seed cash in early 2026. The sector picks up speed as countries push for zero emissions.
