[Funding roundup] Plum, BatX Energies, Navanc, Toqn raise capital
Summary
With a key focus on investment towards advanced R&D for producing battery-grade materials, scaling up their capacity, and setting up micro facilities (spokes) across the country, the company aims to source and process locally.BatX Energies has developed a proprietary Zero WasteZero Emission technology to extract critical Rare Earth metals, namely Lithium, Cobalt, Nickel, and Manganese from scrap Lithium-Ion batteries. These critical materials are the key drivers of global electric mobility.With this investment, we plan to fill the demand and supply gap of Lithium, Cobalt, Nickel, and Manganese in the EV industry reducing carbon emissions, for which we are constantly enhancing our technology and processes to treat all kind of Lithium batteries circulated in the global market, said Vikrant Singh, Co-founder and CTO, BatX Energies.Navanc Data Sciences has raised $300k in a seed round, which saw participation from Kunal Shah, Founder of CRED and QED Innovation Labs; Chattanathan D, Founder arya.ag; Samit Shetty, Founder of Chaitanya Microfinance and Former CEO of Navi Finserv; Subramanya SV, Founder of Fisdom; and Vinay Bhat led group of techie angels.The funds raised in this round will help Navanc to ramp up the product to go to market and hire engineers. The product has been built with layers of data pooling from various sources like Geospatial insights, legal track check and crime reporting on properties. Toqn was founded by Divya Jain to make low cost jewellery for women.We aim to utilise these funds on our working capital, education and marketing, D2C ecommerce channels as well as design and product development for newer innovations. These include - experience stores across the country, airport kiosks and global expansion, said Dhanush Sadaria, CTO, Toqn.The focus on operations is to grow the design team and product offerings to keep up with the increasing market demand, and to create a supply chain system, data analysis for every product and its metrics, strike deals with traditional jewellery stores and jewellery houses for better accessibility and reach to a customer, an official statement said.