Meine Electric Raises ₹6.7 Crore Pre-Seed to Build APAC’s First Iron-Air Battery

Deep-tech startup Meine Electric has raised $750,000 (approximately ₹6.7 crore) in a pre-seed funding round to advance the development of iron-air long-duration energy storage (LDES) solutions. The round was backed by prominent investors including Antler, Rebalance, Venture Catalysts, gradCapital, and AIC-AU Incubation Foundation, along with several angel investors from the energy and technology ecosystem.

The funding marks one of the largest pre-seed raises by a battery deep-tech startup in India and will be used to accelerate Meine Electric’s transition from laboratory-scale prototypes to pilot-ready battery systems.

Building APAC’s First Iron-Air Battery Platform

Founded in 2023 by Priyansh Mohan, a metal-air technologist, and Stuti Kakkar, a former management consultant and economist, Meine Electric is positioning itself as the first company in Asia Pacific region (APAC) to develop iron-air battery technology for long-duration energy storage. Globally, the company is among only a handful of players working on this chemistry.

Iron-air batteries use abundant materials such as iron, air, and water and operate through a reversible rusting process to store and release electricity. Meine Electric claims its proprietary technology can deliver energy storage at a levelised cost of less than $0.05/kWh, significantly lower than conventional alternatives.

Addressing the Limitations of Lithium-Ion Storage

As renewable energy penetration increases, conventional lithium-ion batteries face economic and technical constraints for long-duration storage. While lithium-ion systems are typically viable for short-duration applications, Meine Electric’s iron-air batteries are designed to provide 16–24 hours of energy storage, making them suitable for round-the-clock renewable power delivery.

The company’s systems are also capable of charging fully within eight hours, aligning with peak solar generation windows. This capability positions iron-air batteries as a critical infrastructure component for renewable-heavy grids and commercial and industrial (C&I) power applications.

Meine Electric reports a robust intellectual property portfolio, with four patents granted and seven international patents filed, and additional filings in progress. The company states that its chemistry performance has been benchmarked against global standards and differentiated by faster charge-discharge capabilities, enabling better grid integration.

Roadmap Towards Commercialisation

Operating from a 5,000 sq ft facility in Chennai, Meine Electric is currently outfitting its site for pilot production. The newly raised capital will support the development of multi-kilowatt grid-connected prototypes, followed by larger pilot installations.

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Commenting on the company’s roadmap, Priyansh Mohan, Co-Founder and CEO, Meine Electric, said, “India will win the energy transition when clean power becomes dispatchable, not intermittent. 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”.

Looking ahead, the company aims to deliver containerised iron-air battery systems by 2027, while strengthening partnerships with independent power producers and energy-intensive C&I customers. The broader goal is to support India’s renewable energy ambitions as the country moves towards its 500 GW renewable capacity target by 2030.