- Ambit GPC-led fund backs Lohum’s expansion
- Company targets cathode materials, rare earth recovery
Lohum Cleantech has secured INR 230 crore from Ambit Global Private Client’s Poonawalla Vision Fund-1 (PVF1) and a consortium of family offices to accelerate its expansion into advanced battery materials and critical minerals processing.
The Noida-based company plans to diversify beyond battery recycling into higher-value segments such as nickel-manganese-cobalt (NMC) cathode active materials, platinum group metals and rare earth magnet recovery. The move comes as India seeks to strengthen domestic capabilities in critical minerals and reduce import dependence.
Founded in 2018, Lohum has raised around $111 million across 15 funding rounds and counts Baring Private Equity Partners, Cactus Venture Partners and Singularity AMC among its investors.
The investment also highlights growing confidence in battery material circularity and energy-transition supply chains. Market participants believe the entry of family offices and alternative investment funds signals that the sector is evolving from a venture-led opportunity into a scalable, infrastructure-backed business.
Lohum’s expansion strategy follows reports of its plans to establish a rare earth refining hub and pursue an initial public offering by 2027. However, scaling cathode material production and securing long-term feedstock and offtake agreements will remain key execution challenges.
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