Metastable Materials secures seed funding from Sequoia India’s Surge


A startup that recycles lithium-ion batteries with advanced technology has secured seed funding led by Surge, Sequoia Capital India, and Southeast Asia’s rapid scale-up programme.

Speciale Invest, Theia Ventures, and several other individual investors also participated in the funding round. The amount raised was not disclosed.

The demand for lithium-ion batteries is increasing rapidly, resulting in an industry of Li-ion battery recycling worth $4.6 billion, which is expected to grow five-fold by 2030.

We must be able to recycle and do so in a way that is cost-effective, scalable and environmentally friendly in order to achieve a more sustainable future, says Metastable founder Shubham Vishvakarma.

Metastable Materials secures seed funding from Sequoia India’s Surge which is great for the country.

The EU, among other nations, is aiming to bring in laws that guarantee recycling or reusing of Li-ion batteries past their lifespan. Although retrieving and conserving metals from used Li-ion batteries is essential, the current techniques encounter certain difficulties. These encompass transportation of hefty Li-ion batteries to recycling centers as well as costs caused by Lithium’s flammability and strict rules in regards to its packaging.

In order to extract metals from Li-ion batteries, companies must disassemble, segregate, and retrieve them, requiring substantial investments in facilities and engineering.

Metastable developed the world’s first chemical-free Integrated Carbothermal Reduction process to recycle and extract valuable materials from batteries, including copper, aluminum, cobalt, nickel, and lithium.

By reducing capital and operational costs, this technology achieves a recovery rate of more than 90% compared to traditional battery recycling methods.

“From providing a sustainable supply of metals for the manufacture of electric vehicle batteries to setting new benchmarks for metal recycling, we are proud to be pioneering a solution that safeguards our future.” According to Vishvakarma, this will pave the way for the development of new technologies and innovations that can help combat climate change in a significant way.

As the current methods in India do not meet international standards for transporting used batteries from consumers to recycling facilities, Metastable is developing safe storage and packaging solutions for them funding by Sequoia. Using a heat-resistant structure, their packaging reduces the risk of fire during transportation.

As a result of expanding its battery recycling capabilities, the company has opened a facility in Bengaluru that can process 1,500 tonnes of material annually, covering 6% of India’s recycling needs. The startup plans to use the new funding to recruit staff to support manufacturing, industrial engineering, supply chain management, and day-to-day operations:.

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