Deep Tech innovation company Offgrid Energy Labs raises USD 15 million in Series A funding led by Archean Chemicals Industries Ltd and Ankur Capital; to accelerate global commercialisation of ZincGel® energy storage technology. Offgrid Energy Labs, a deep science-led battery innovation company, has raised USD 15 million in Series A funding led by Archean Chemicals Industries Ltd, one of the world’s leading bromide manufacturers, with participation from existing investor Ankur Capital. The deep tech alternative battery-tech startup previously raised a seed round led by Shell Ventures.
The funds will be used to set up a 10 MWh demonstration manufacturing facility in the UK, further develop its R&D pipeline for next-generation stationary energy storage solutions, and commercialise its patented ZincGel batteries through certification, testing, and finalising the blueprint for a giga-factory.
India’s ambitious clean energy transition requires parallel development of energy storage infrastructure. The transition is accelerating rapidly, with the government aiming to reach 500 GW of non-fossil fuel capacity by 2030. According to the India Energy Storage Alliance, the country’s energy storage sector is expected to attract ₹4.79 lakh crore in investments by 2032, with a projected requirement of over 411 GWh of storage capacity — 236 GWh of which will come from battery energy storage systems (BESS).
The government has already rolled out viability gap funding (VGF) schemes worth ₹3,700 crore to support 13.2 GWh of BESS projects and plans an additional ₹5,400 crore to facilitate another 30 GWh. This makes reliable storage critical to ensuring grid stability, enabling the integration of renewable energy sources, and cementing India’s leadership in the global energy storage market. Against this backdrop, Offgrid’s latest funding marks a timely step forward — positioning ZincGel® as a viable, scalable, and sustainable storage solution to meet both India’s and the world’s urgent energy transition goals.
Speaking on the funding, Rishi Srivastava, Co-Founder, Offgrid Energy Labs, said: “Stationary storage is no longer a distant requirement as India alone will need over 236 GWh of battery energy storage systems by 2032. With ZincGel®, we are building for this scale from day one. Our 25+ IP families and proprietary electrolyte technology give us a unique edge to deliver safe, non-toxic, and scalable solutions at globally competitive costs. This Series A round is a critical milestone — enabling us to move from lab innovation to large-scale commercialisation through our UK demo facility, and soon, a GW-scale plant in India. By doing so, we aim to accelerate the country’s renewable-first grid while reducing import reliance and creating a home-grown storage ecosystem that can serve both India and global markets.”
Co-founded by Tejas Kusurkar, Rishi Srivastava, Brindan Tulachan, and Ankur Agarwal in 2018 at SIIC-IIT Kanpur, Offgrid Energy Labs focuses on delivering commercially viable and sustainable stationary energy storage solutions for three key applications: peak shifting, net-zero industrial electricity, and decentralised off-the-grid energy solutions. Offgrid’s ZincGel® technology is built on three innovation vectors — alternative chemistry, materials and design, and manufacturing. Using commonly available, non-toxic materials and leveraging proven zinc-bromide chemistry, Offgrid has developed over 25 IP families and 50+ IP assets, with its proprietary electrolyte forming the heart of the technology. ZincGel® enables customised battery configurations for diverse stationary applications, delivering safe, scalable, and sustainable energy storage at competitive costs.
“What began as late-night lab conversations about a safer, more accessible alternative to lithium-ion has grown into a global mission. ZincGel® was born from that spark — an energy storage solution to power entire grids sustainably! More than capital; this fundraise validates that deep science from India can scale globally. Our UK demo facility marks the next step — showcasing ZincGel®’s performance, building a local supply chain, and proving scalability through low-capex manufacturing. For me, this milestone is both personal and exciting — a reminder of why we started: transforming energy storage for a renewable-first world.” – Tejas Kusurkar, Co-Founder, OffGrid Energy Labs.
Ranjit Pendurthi, Promoter and Managing Director, Archean Chemical Industries Limited (ACIL), stated: “Our substantial commitment reflects the confidence we have in Offgrid’s deep-tech approach. Together, we are building not just a new energy storage solution, but a scalable platform for the global clean energy transition. Our experience in large-scale chemical manufacturing complements Offgrid’s breakthrough science, making this partnership a strong foundation for giga-factory scale production. As one of the world’s leading bromine manufacturers with decades of experience in scaling large-scale industrial operations, we see this as a synergistic partnership. Our expertise in chemical manufacturing and global supply chain execution will be critical in taking Offgrid’s ZincGel® from pilot to giga-factory readiness, ensuring operational excellence as the technology scales.”
Ritu Verma, Co-founder & Managing Partner, Ankur Capital, restated their existing partnership and announced: “At Ankur Capital we believe in companies that combine deep science with a clear path to global markets. Offgrid Energy Labs has consistently shown both, building breakthrough storage technology while assembling a world-class team. We are excited to double down on our partnership to support the next leg of their journey.”
Offgrid’s ZincGel® technology is built on three innovation vectors — alternative chemistry, materials and design, and manufacturing. Using commonly available, non-toxic materials and leveraging proven zinc-bromide chemistry, Offgrid has developed over 50 IP assets, with its proprietary electrolyte forming the heart of the technology. ZincGel® enables customised battery configurations for diverse stationary applications, delivering safe, scalable, and sustainable energy storage at competitive costs.
