Get All Access for $5/mo

Metastable Materials Raises Undisclosed Amount In Pre-Seed Funding The fund will be utilized to build Lithium-ion battery supply chain infrastructure and team, operations, infrastructure expansion

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Pexels

Metastable Materials, an urban mining startup, has raised an undisclosed amount in pre-Seed funding round led by Log9 Materials and PointOne. The round also witnessed participation from Sanjiv Rangrass, ITC Limited and other angel investors. The company will use the fund to build India's Lithium-ion battery supply chain infrastructure by extracting the much-needed elements from end-of-life batteries, and also for the team, operations and infrastructure expansion.

"We, at Metastable, are pioneering a first-of-its-kind, chemical-free technology and system in an eco-friendly manner can extract a wide range of recycled materials from Lithium-ion batteries, in order to provide a sustainable alternative to freshly mined metals and with the end-goal of integrating with existing global supply chains. This fundraising will certainly act as a catalyst in augmenting our efforts in the near future," said Shubham Vishvakarma, founder, Metastable Materials.

The startup, which is modelling its operations around the concept of urban mining, has already filed 4 patents to their flagship metals extraction process, and will be acquiring more patents soon, and further is in talks with several suppliers for the commercialization of extracted metals, claimed by the company in a statement.

"Urban mining will not only help in reducing the burden for newly-mined materials from earth like Lithium but can also be an important piece in reducing India's global dependency for raw materials for batteries. Process innovation is very critical to scale urban mining, and to this end, Metastable's proprietary process can help bring scale to this sector sustainably," said Kartik Hajela, co-founder, Log9 Materials.

Founded in 2021, Metastable has been dedicatedly working on providing environment-friendly solutions by adapting the waste-as-ore approach for reducing the Lithium-ion batteries' overall life-cycle cost and giving impetus to circular economy.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Business News

Alexis Ohanian Says This Is His Best Investment So Far: $10,000 Turned Into More Than $17 Million

Ohanian has backed 40 unicorns, but one investment stands out the most.

Business News

I Tried Buying a Car on Amazon. Here Are the Pros and Cons.

Amazon Autos just launched, and users can buy a new car online. Here's how it works and what needs to improve.

News and Trends

Multiples Private Equity Leads INR 1000 Cr Funding in Shubham Housing

With the raised funds, the Gurugram-based platform aims to propel its growth trajectory, diversifying its product offerings and strengthening its national footprint.

Business News

Barbara Corcoran Says the Best Entrepreneurs Are Good at This One Thing

Real estate entrepreneur and investor Barbara Corcoran says a few key traits prove effective when starting a business. Here's her top pick.

Starting a Business

Nearly 50% of America's Workforce Has a Secondary Source of Income or Side Hustle. Here Are 7 Steps You Should Take to Create Lasting Value for Yours.

Today's entrepreneurs have the opportunity to generate long-lasting supplementary income if they take these steps.

News and Trends

Amazon Enters India's Booming Quick Commerce Market with Tez

Amazon Tez will first launch as a pilot program, allowing the company to refine its operations before scaling up across the country.