Founders, L-R Priyansh Mohan, Stuti Kakkar- MEINE Electric.Energy storage startup Meine Electric has raised $750,000 in a pre-seed funding round led by Antler, Rebalance, and Venture Catalysts, along with participation from gradCapital, AIC–AU Incubation Foundation, and a group of angel investors.
The fresh capital will be utilised to scale the company’s iron-air battery technology from laboratory prototypes to pilot-ready systems.
Founded in 2023 by Priyansh Mohan and Stuti Kakkar, Meine Electric is working on iron-air long-duration energy storage batteries designed to complement lithium-ion systems.
“Our focus for the last three years has been to make iron-air chemistry stable and repeatable. Now we are proving it for the grid and C&I power requirements, building the evidence that iron-air storage can become a backbone asset for the world’s renewable-first future,” said Priyansh Mohan, co-founder and CEO, Meine Electric.
The company claims its technology can deliver 16–24 hours of storage at a levelised cost below $0.05 per kWh, using materials such as iron, air, and water.
The startup currently has over four granted patents and seven international patent applications filed. The technology is based on a reversible rusting process, where iron oxidises to release electricity during discharge and is regenerated during charging.
“At Antler, we back founders building foundational infrastructure for the future, and we believe Meine can become a globally relevant platform for renewable-first power systems,” said Gowri Shankar Nagarajan, associate partner at Antler.
The funds will also be used to expand the team, strengthen research infrastructure, and work with independent power producers and energy-intensive commercial and industrial customers for pilot installations.
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