Deeptech startup Sthyr Energy raises $1 Mn in seed round

Deeptech startup Sthyr has raised $1 million in a seed funding round led by Speciale Invest along with participation from Antares Ventures.

The proceeds will be used for further research & development and to pilot and scale up the product, Sthyr said in a press release.

Co-founded in 2024 by Gunjan Kapadia, Akhil Kongara and Muhammed Hamdan, Sthyr aims to address renewable energy curtailment by offering safe, low-cost, and sustainable energy storage solutions. The startup is developing modular 200 kWh battery systems and 10 kW zinc regeneration units.

The Chennai-based startup utilizes zinc-air battery technology, storing excess energy as metallic zinc, which can be utilized during periods of low renewable energy generation. The company targets grid operators, renewable energy companies, and communities reliant on diesel power. It emphasizes the low-cost, safe, and entirely indigenously developed nature of its technology, which has resulted in multiple patents. 

According to Sthyr, it uses non-flammable, water-based electrolytes to increase safety, while its architecture decouples energy and power components, enabling modular deployments at various scales.

 "The ideal use cases for this technology include grid operators, asset management companies with large renewable energy farms, microgrids in remote areas, and potentially defence sector and island communities relying on diesel power,"  said Gunjan Kapadia.

According to Sthyr, its batteries are expected to deliver a levelised cost of energy (LCOE) for long-duration storage, making it a viable alternative to lithium-ion batteries.