Lico - About the company
Lico is a funded company based in Mumbai (India), founded in 2021 by Gaurav Dolwani. It operates as a Manufacturer of recycled battery materials and energy storage system units. Lico has raised an undisclosed amount in funding. The company has 70 active competitors, including 33 funded and 7 that have exited. Its top competitors include companies like Lohum, Attero and Aqua Metals.
Company Details
Manufacturer of recycled battery materials and energy storage system units. Operations involve processing end-of-life lithium-ion batteries to recover minerals including lithium, cobalt, nickel, and manganese. Recovered materials are reintegrated into the battery supply chain. Additionally, healthy battery cells are repurposed into energy storage systems for use in various applications. The process includes battery collection, dismantling, testing, and material extraction to support a circular economy.
- Website
- licomat.com
- Social
- Email ID
- *****@licomat.com
- Phone Number
- +91 **********
- Registered Address
- FLOOR NO03, PLOT-46 UPADRASTA HOUSE, DR. V B GANDHI MARG, KALA GHODA, FORT, Mumbai City, MUMBAI, Maharashtra, India, 400001
Key Metrics
Founded Year
2021
Location
Mumbai, India
Stage
Funding Raised
Latest Funding Round
Investors
Ranked
20th among 70 active competitors
Annual Revenue
₹10 - ₹50 Cr as on Mar 31, 2025
Employee Count
39 as on Aug 31, 2025
Legal entities associated with Lico
Lico is associated with 1 legal entity given below:
Legal Entity Name | Date of Incorporation | Revenue | Latest Employee Count | Documents |
|---|---|---|---|---|
LICO MATERIALS PRIVATE LIMITED CIN: U31909MH2021PTC369900 , India, Active | Oct 22, 2021 | ₹10 - ₹50 Cr (As on Mar 31, 2025) | 52 (As on Apr 01, 2026) |
Sign up to download Lico's company profile
Lico's funding and investors
Lico has raised funding over 1 round. Its latest funding round was a Grant (prize money) round on May 07, 2026 for $*****. 1 investor participated in its latest round. Lico has 1 institutional investor.
Here is the list of recent funding rounds of Lico:
Date of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
May 07, 2026 | 2675875 | Grant (prize money) | 1101367 | 6142751 | 2274075 | 5876696 |
Access funding benchmarks and valuations. Sign up today!View details of Lico's funding rounds and investors
Lico's founders and board of directors
Founder? Claim ProfileThe founders of Lico is Gaurav Dolwani. Gaurav Dolwani is the CEO of Lico.
Here are the details of Lico's key team members:
- Gaurav Dolwani: Founder & CEO of Lico.
Lico's Board of Directors
Lico's board has 3 active members. Gaurav Dolwani is part of team and Vikram Handa and Vijay Pasupathy are independent board members.Here is the list of Lico's board of directors:
Name | Type | Representing | Status | Duration |
|---|---|---|---|---|
Team | - | Current | 4y 10m | |
Independent board member | - | Current | 4y 10m | |
nnabpeq | Independent board member | - | Past | 8y 8m |
View details of Lico's Founder profiles and Board Members
Lico's employee count trend
Lico has 39 employees as of Aug 25. The total employee count is 63.0% more than what it was in Aug 24. Here is Lico's employee count trend over the years:
Uncover Lico's growth story! Sign up today!
Access Tracxn on any website
Install Tracxn ExtensionOur Google Chrome extension lets you view company details while browsing their websites
Lico's Competitors and alternates
Top competitors of Lico include Lohum, Attero and Aqua Metals. Here is the list of Top 10 competitors of Lico, ranked by Tracxn score:
Get insights and benchmarks for competitors of 2M+ companies! Sign up today!
Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st | Sustainable critical minerals and advanced materials producer | $135M | 75/100 | ||
2nd | Provider of e-waste and lithium-ion battery recycling solutions | $31.1M | 71/100 | ||
3rd |  Aqua Metals 2013, Reno (United States), Public | Provider of battery recycling solutions | $6M | 65/100 | |
4th | Recyclekaro 2010, Navi Mumbai (India), Series A | Manufacturer of recycled metals and provider of electronic waste and battery recycling services | $21.8M | 65/100 | |
5th | Mangrove Lithium 2013, Delta (Canada), Series B | Developer of modular scalable lithium refining technology for battery‑grade production | $46.5M | 64/100 | |
6th | Provider of lithium-ion battery recycling and commodity extraction clean-tech solutions | $4.97M | 64/100 | ||
7th |  ABTC 2011, Reno (United States), Public | Provider of Lithium-ion battery recycling platform | - | 63/100 | |
8th |  SiTration 2020, Cambridge (United States), Seed | Provider of battery recycling solutions | $17.4M | 62/100 | |
9th | Redwood Materials 2017, Carson City (United States), Series E | Provider of repurposed battery packs for modular energy storage systems | $2.29B | 60/100 | |
10th |  Ascend Elements 2015, Westborough (United States), Series D | Manufacturer of engineered materials from recycled lithium-ion batteries and battery scrap | $1.1B | 60/100 | |
20th | Manufacturer of recycled battery materials and energy storage system units | - | 47/100 |
Get insights and benchmarks for competitors of 2M+ companies! Sign up today!Looking for more details on Lico's competitors? Click here to see the top ones
Lico's Investments and acquisitions
Lico has made no investments or acquisitions yet.
Reports related to Lico
Here is the latest report on Lico's sector:
News related to Lico
Media has covered Lico for 1 event in last 1 year.
•
LICO Materials Secures Grant to Boost India's Battery Recycling FutureDevdiscourse•May 07, 2026•Lico, Mines
•
•
Get curated news about company updates, funding rounds, M&A deals and others. Sign up today!Are you a Founder ?
FAQs about Lico
Explore our recently published companies
- TAD Auto Body - Fontana based, Unfunded company
- Hippo Prints - Unfunded company
- David Computer Services & Repair - Unfunded company
- Yokota Enterprise - Nagoya based, 1996 founded, Unfunded company
- Medsurge Group - United States based, Unfunded company
- Oxygenplus - New Zealand based, Unfunded company
