‘Make in India’ Manufacturing
Founded in 2017, Lohum started as a lithium-Ion batteries recycling company and today is India’s largest player in this space. The original vision of becoming the world’s largest producer of sustainable, zero waste, and circular economy business in Li-ion battery raw materials through recycling, repurposing, and low-carbon refining has expanded to the recycling of over 20 key minerals that are frequently used in industrial and consumer applications.
Rajat’s journey, from an early entrepreneurial exit in the US to Harvard Business School and private equity, ultimately reaffirmed his passion for building companies, leading him through several ventures before founding Lohum. When we invested, the company showed promise but was still largely vision-led, and our conviction rested on Rajat’s deep drive, resilience, and R&D-focused approach.
Our investment in Lohum was driven by the clear and urgent need for sustainable battery solutions, particularly in recycling, refurbishing, and reuse, an area where few players were truly focused despite the rapid shift toward battery-powered energy and mobility. Lohum stood out for its strong R&D orientation and its ability to extract valuable materials from lithium-ion batteries with minimal waste using established, low-risk processes, supported by meaningful IP development.
The company had already built solid commercial traction with well-respected customers and demonstrated a viable economic model with room for further margin expansion as it scaled into higher-value segments. Most importantly, our conviction was strengthened by the resilience and drive of its founder, Rajat, whose prior entrepreneurial experience and proven execution capability gave us confidence in Lohum’s potential to become a global leader. Taken together, the combination of a mission-critical market opportunity, differentiated technology, and a strong founder made Lohum a compelling investment.
