Sthyr Energy, a startup focused on next-generation energy storage and incubated at the Indian Institute of Technology Madras (IIT-M), has raised $1 million in seed funding. The round was led by Speciale Invest, with additional backing from Antares Ventures.
Founded by IIT-M researchers, Sthyr Energy is developing a mechanically rechargeable Zinc-Air battery system tailored for long-duration energy storage applications, including seasonal power supply and clean alternatives to traditional peaker plants. The company’s technology is the result of five years of in-depth research at IIT-Madras. Co-founders Gunjan Kapadia, Akhil Kongara, and Muhammed Hamdan set out to reimagine battery design with a focus on three priorities: enhanced safety, modular scalability, and cost-effectiveness.
Unlike conventional battery systems, Sthyr’s design utilizes non-flammable, water-based electrolytes to improve operational safety. Its structure separates energy and power functions, allowing for flexible, modular setups that can scale based on demand. The solution is also expected to deliver a competitive Levelized Cost of Energy (LCOE), making it a strong alternative to lithium-ion batteries for long-duration storage needs. With the newly raised capital, Sthyr plans to deepen its R&D work, build demonstration units, and partner with industrial and utility players to validate the system’s commercial potential.
Gunjan Kapadia, co-founder and CEO of Sthyr Energy, stated, “Our system is designed to store renewable energy during high-output periods, such as summer, and release it reliably in winter or during grid outages—providing over 100 hours of continuous backup.” Vishesh Rajaram, Managing Partner at Speciale Invest, commented, “Sthyr is solving a critical challenge in the renewable energy sector. The team brings a powerful mix of technical expertise and focused execution.”
Vishnu Rajeev, Investment Principal at Speciale Invest and lead on the deal, added, “Sthyr’s approach avoids the need for rare earth elements and instead relies on materials readily available within India. Their technology could position the country as a key contributor in global energy storage innovation—especially in a space currently shaped by supply constraints and geopolitical risks.”
Sthyr Energy is an Indian deep‑tech startup, founded in 2024 in Chennai by Gunjan Kapadia, Akhil Kongara, and Muhammed Hamdan, emerging from five years of research at IIT Madras. The company specializes in mechanically rechargeable zinc‑air battery systems—ranging from 10 kW regeneration units to 200 kWh modular storage—that employ non‑flammable, water‑based electrolytes for enhanced safety, and decouple energy and power components for scalable deployments. Aimed at tackling seasonal and long‑duration energy storage challenges, Sthyr targets utilities, renewable energy firms, micro‑grids, defense, and remote communities reliant on diesel backup. In late June 2025, it successfully closed a $1 million seed round led by Speciale Invest, with Antares Ventures also participating—funding that will accelerate its R&D, pilot launches, and scale‑up efforts
