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Deeptech startup Meine Electric raises $750K in pre-seed round

EntrackrEntrackr · 15d ago
Deeptech startup Meine Electric raises $750K in pre-seed round
Medial

Meine Electric, a deeptech energy storage startup, has raised $750,000 (around Rs 6.7 crore) in a pre-seed funding round led by Antler, Rebalance and Venture Catalysts. The round also saw participation from gradCapital, AIC-AU Incubation Foundation, and a group of angel investors. The funding will be used to move the company from lab-scale prototypes to pilot-ready iron-air battery systems and to strengthen its research and engineering capabilities. Founded in 2023 by Priyansh Mohan and Stuti Kakkar, Meine Electric is building iron-air long-duration energy storage (LDES) systems, positioning itself as the first company in APAC and among the few globally working on this technology. The startup is focused on batteries designed for 16–24 hours of storage, aimed at supporting round-the-clock renewable energy usage. Iron-air batteries use abundant materials such as iron, air and water and operate through a reversible rusting process. Unlike lithium-ion batteries, which are typically viable for short-duration storage, iron-air systems are designed for daily cycling and long-duration use, making them suitable for solar-heavy grids. Meine Electric claims its technology is capable of operating at a lower cost of storage compared to existing battery solutions and is optimised for faster charge and discharge to match solar generation cycles. The firm operates from a 5,000 sq ft facility in Chennai, which is being set up for pilot production. It has secured four granted patents and seven international patent filings related to its technology. Going forward, Meine Electric plans to build grid-connected prototypes, followed by larger pilot deployments, with a target to launch containerised iron-air battery systems by 2027. The startup is also engaging with power producers and commercial and industrial customers for pilot projects.

Olee.space raises $3 Mn in seed round

EntrackrEntrackr · 5m ago
Olee.space raises $3 Mn in seed round
Medial

Olee.space, a laser-based communication and photonics defense system, has secured $3 million in a seed funding round from Rockstud Capital and other global investors. The fresh funds will be allocated towards scaling production, advancing its quantum-secure communication protocols, and expanding its defense tech roadmap, Olee.space said in a press release. Co-founded in 2023 by James Solomon and Suman Hiremath, Olee.space is a photonics and defense technology company that builds next-generation systems in Free-Space Optical Communication (FSOC), quantum-encrypted networking, and directed energy weapons. Its advanced solutions include resilient systems for terrestrial, inter-satellite, and ground-to-space links, designed for low latency, maximum security, and optimized data throughput. As per the Pune-based startup, Free-Space Optical Communication (FSOC) uses low-powered infrared laser beams to deliver ultra-fast, secure data links across land, air, sea, and space. Olee.space’s DEW platform, which is under development for anti-drone/UAV and anti-satellite operations, is designed to deliver precision tracking, real-time targeting, and neutralization of aerial threats. “I have always been fascinated by how lasers function. Working with light gives me happiness and I am here to do as much justice to this domain as any of my able team members. What we do here is rewarding to the country, and would continue doing so,” said James Solomon, founder and CEO of Olee.

Spacetech startup Sisir Radar raises $1.5 Mn in seed round

EntrackrEntrackr · 11m ago
Spacetech startup Sisir Radar raises $1.5 Mn in seed round
Medial

Spacetech startup Sisir Radar, which builds Synthetic Aperture Radar (SAR), has raised $1.5 million in its seed round led by Shastra VC. The round also saw participation by Riverwalk Holdings and INVSTT. The proceeds will be used to enable Sisir Radar to build stronger R&D and manufacturing capabilities and uniquely position it to launch the highest resolution L-band SAR Satellite by the end of 2026. Founded by Dr Tapan Misra, Sisir Radar provides SAR technology enabling defence, intelligence and commercial applications. It claims to be the first Indian company to build SAR imaging payloads across multiple bands including L, P and X bands. Sisir’s SAR technology enables 24x7 real-time monitoring of the Earth and can see through darkness, clouds, and dense foliage, enabling critical applications in defence, agriculture, mining, disaster response, maritime surveillance, and infrastructure monitoring. Besides being a technology partner to major defence companies in India for developing radar solutions, Sisir has also won 2 IDEX challenges to build a submetric L band and high resolution P band SAR satellite for the Indian Air Force.

Stock Radar: Medi Assist, Matrimony, HAL, Premier Energies, Gensol Engg, Muthoot Finance in focus on Tuesday

Money ControlMoney Control · 1y ago
Stock Radar: Medi Assist, Matrimony, HAL, Premier Energies, Gensol Engg, Muthoot Finance in focus on Tuesday
Medial

In today's stock market, several stocks are in focus. Some notable ones include: 1. Medi Assist Healthcare Services: Promoter Bessemer India Capital Holdings plans to sell shares worth Rs 540 crore through a block deal. 2. Adani Green Energy: Approved a joint venture with TotalEnergies Renewables Singapore, with an investment of $444 million. 3. Hindustan Aeronautics: The Cabinet Committee on Security approved the procurement of aero-engines for the Indian Air Force. 4. Muthoot Finance: Its subsidiary, Belstar Microfinance, received SEBI approval for an IPO to raise Rs 1,300 crore. 5. Lemon Tree Hotels: Signed a license agreement for an 80-room hotel property in Gir, Gujarat. 6. Maruti Suzuki India: Reported a 2.1% increase in total production in August compared to the same period last year. 7. Welspun Corp: Approved a $100 million investment for upgrading manufacturing and coating capabilities in the USA. 8. Zee Entertainment Enterprises: Appointed Shiva Chinnasamy as Chief Technology & Product Officer. 9. ICICI Bank: Stated that no salary or employee stock option plans have been paid to Madhabi Puri Buch after her retirement. This is just a brief snapshot, and there is more news in the market.

Vimano raises Rs 25 Cr in seed round led by Ankur Capital

EntrackrEntrackr · 10m ago
Vimano raises Rs 25 Cr in seed round led by Ankur Capital
Medial

Vimano raises Rs 25 Cr in seed round led by Ankur Capital Nanotechnology startup Vimano has raised Rs 25 crore (around $3 million) in its seed round led by Ankur Capital. This is the first investment from Ankur Capital’s new third fund. The proceeds will be used to help them grow their team, start pilot projects, and set up manufacturing. Started in 2019 by Murari Ramkumar and Dr. Nagesh Kini, Vimano makes special membranes used in energy systems like redox flow batteries, fuel cells, and green hydrogen production. These membranes help store and use energy more efficiently. Its technology aims to reduce the cost of green hydrogen and make long-term energy storage cheaper. Vimano works on clean energy problems by making special materials that help electricity flow better. Its membrane technology can be changed to fit different uses, making it more useful and powerful. These membranes also waste less energy and last longer than many others available today. The startup is working with partners in the energy space to test and use its tech in real-world projects. According to Vimano, it aspires to speed up the shift to green energy and support industries looking for better ways to store and use clean power. In August last year, Ankur Capital had received commitments from two of its existing Limited Partners into its third fund. Since its inception, the VC firm has been backing deep technology innovations companies such as Captain Fresh, String Bio, Vegrow, Offgrid Energy Lab, BigHaat, Cropin, and Niramai.

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