Sthyr Raises $1 Million Seed Funding for Energy Storage Solutions

Deeptech startup Sthyr has successfully raised $1 million in a seed funding round led by Speciale Invest, with additional support from Antares Ventures. The funding will be allocated towards further research and development as well as piloting and scaling up their innovative product.

About Sthyr

Co-founded in 2024 by Gunjan Kapadia, Akhil Kongara, and Muhammed Hamdan, Sthyr’s mission is to tackle renewable energy curtailment by providing affordable, safe, and sustainable energy storage solutions. The startup is focused on developing modular 200 kWh battery systems along with 10 kW zinc regeneration units.

Innovative Technology

Based in Chennai, Sthyr employs zinc-air battery technology to store surplus energy as metallic zinc, which can then be tapped into during times of diminished renewable energy production. The company’s target audience includes grid operators, renewable energy firms, and communities that depend on diesel power. Sthyr highlights the cost-effectiveness, safety, and fully indigenous development of its technology, which has garnered several patents.

Safety and Capability

According to Sthyr, non-flammable, water-based electrolytes are used to enhance safety. The design of their technology separates energy and power components, allowing for modular deployments at varying scales.

Ideal Use Cases

Gunjan Kapadia noted that the optimal applications for this technology encompass grid operators, asset management organisations with extensive renewable energy farms, microgrids in remote locations, and potentially sectors such as defence and island communities that rely on diesel power.

Cost-Effectiveness

Sthyr anticipates that its batteries will provide a levelised cost of energy (LCOE) suitable for long-duration storage, positioning them as a viable alternative to lithium-ion batteries.