● USD 15 million Series A with major contribution from Archean Chemical Industries Ltd and participation from Ankur Capital
● 10 MWh demo manufacturing facility to be setup in the UK
● OEL holds over 25 IP families in IN, US, UK, EU, primarily focusing on next-gen electrodes, electrolytes and design
● ZincGel® patented technology developed for safe, sustainable, and scalable stationary energy storage
● Plans strategic expansion into renewable, commercial, and utility-scale applications in India and global markets
Offgrid Energy Labs, a deep science-led battery innovation company, has raised USD 15 million in Series A funding led by Archean Chemical Industries Ltd, one of the world’s leading bromide manufacturers, with participation from existing investor Ankur Capital. The deep tech alternative battery-tech startup previously raised a seed round led by Shell Ventures.
The funds will be used to set up a 10 MWh demo manufacturing facility in the UK, further its R&D pipeline for next-generation stationary energy storage solutions, and commercialise its patented ZincGel® batteries through certification, testing, and finalising the blueprint for a giga-factory.
India’s ambitious clean energy transition demands a parallel development in energy storage infrastructure. The transition is accelerating rapidly, with the government targeting 500 GW of non-fossil fuel capacity by 2030. According to the India Energy Storage Alliance, the country’s energy storage sector is expected to attract ₹4.79 lakh crore in investments by 2032, with a projected requirement of over 411 GWh of storage capacity — 236 GWh of which will come from battery energy storage systems (BESS). The government has already rolled out viability gap funding (VGF) schemes worth ₹3,700 crore to support 13.2 GWh of BESS projects and plans an additional ₹5,400 crore to facilitate another 30 GWh. This makes reliable storage critical to ensuring grid stability, enabling renewable integration, and cementing India’s leadership in the global energy storage market. Against this backdrop, Offgrid’s latest funding marks a timely step forward — positioning ZincGel® as a viable, scalable, and sustainable storage solution to meet both India’s and the world’s urgent energy transition goals.
Co-founded by Tejas Kusurkar, Rishi Srivastava, Brindan Tulachan, andA nkur Agarwal in 2018 at SIIC-IIT Kanpur, Offgrid Energy Labs focuses on delivering commercially viable and sustainable stationary energy storage solutions for three key applications: peak shifting, net-zero industrial electricity, and decentralised off-the-grid energy solutions. Together, these segments represent a rapidly expanding market with demand projected at 411 GWh by 2032.
Offgrid’s ZincGel® technology is built on three innovation vectors —alternative chemistry, materials and design, and manufacturing. Using commonly available, non-toxic materials and leveraging proven zinc-bromide chemistry, OffGrid has developed over 25 IP families and 50+ IP assets, with its proprietary electrolyte forming the heart of the technology. ZincGel® enables customised battery configurations for diverse stationary applications, delivering safe, scalable, and sustainable energy storage at competitive costs.
Speaking on the funding, Rishi Srivastava, Co-Founder, Offgrid Energy Labs, said: "Stationary storage is no longer a distant requirement as India alone will need over 236 GWh of battery energy storage systems by 2032. With ZincGel®, we are building for this scale from day one. Our 25+ IP families and proprietary electrolyte technology give us a unique edge to deliver safe, non-toxic, and scalable solutions at globally competitive costs. This Series A round is a critical milestone — enabling us to move from lab innovation to large-scale commercialisation through our UK demo facility, and soon, a GW-scale plant in India. By doing so, we aim to accelerate the country’s renewable-first grid while reducing import reliance and creating a home-grown storage ecosystem that can serve both India and global markets.”
“What began as late-night lab conversations about a safer, more accessible alternative to lithium-ion has grown into a global mission. ZincGel® was born from that spark — an energy storage solution to power entire grids sustainably! More than capital; this fundraise validates that deep science from India can scale globally. Our UK demo facility marks the next step — showcasing ZincGel®’s performance, building a local supply chain, and proving scalability through low-capex manufacturing. For me, this milestone is both personal and exciting — a reminder of why we started: transforming energy storage for a renewable-first world.” - Tejas Kusurkar, Co-Founder, OffGrid Energy Labs.
Mr. Ranjit Pendurthi, Promoter and Managing Director, Archean Chemical Industries Limited (ACIL), stated: "Our substantial commitment reflects the confidence we have in Offgrid’s deep-tech approach. Together, we are building not just a new energy storage solution, but a scalable platform for the global clean energy transition. Our experience in large-scale chemical manufacturing complements Offgrid’s breakthrough science, making this partnership a strong foundation for giga-factory scale production. As one of the world’s leading bromine manufacturers with decades of experience in scaling large-scale industrial operations, we see this as a synergistic partnership. Our expertise in chemical manufacturing and global supply chain execution will be critical in taking Offgrid’s ZincGel® from pilot to giga-factory readiness, ensuring operational excellence as the technology scales.”
Ritu Verma, Co-founder & Managing Partner, Ankur Capital, restated their existing partnership and announced: "At Ankur Capital we believe in companies that combine deep science with a clear path to global markets. Offgrid Energy Labs has consistently shown both, building breakthrough storage technology while assembling a world-class team. We are excited to double down on our partnership to support the next leg of their journey."
Offgrid’s ZincGel® technology is built on three innovation vectors —alternative chemistry, materials and design, and manufacturing. Using commonly available, non-toxic materials and leveraging proven zinc-bromide chemistry, Offgrid has developed over 50 IP assets, with its proprietary electrolyte forming the heart of the technology. ZincGel® enables customised battery configurations for diverse stationary applications, delivering safe, scalable, and sustainable energy storage at competitive costs.
About Offgrid Energy Labs
Offgrid Energy Labs leads in IP-driven battery innovation for a decarbonised future, developing ZincGel® — a patented zinc-bromide platform that offers safer, sustainable, scalable, and commercially viable energy storage for global markets, including India. With over 25* IP families, 50+ IP assets across chemistry, materials, and design, Offgrid uses common, non-toxic materials, robust zinc chemistry, and a flexible ZincGel® platform tailored for energy storage needs. Supported by investors like Shell Ventures, Ankur Capital, and Archean Chemical Industries Ltd, Offgrid is setting new standards in clean battery technology and paving the way for a renewable-first energy infrastructure.
About Archean Chemical Industries Ltd:
Archean Chemical Industries Limited (ACIL) is a leading specialty chemicals company with a strong presence in Bromine, industrial salt, and sulphate of potash. Leveraging its integrated operations and global customer base, ACIL is expanding into high-growth adjacencies such as compound semiconductors and energy storage solutions. Through investments in innovative technologies like Silicon Carbide and Zinc Bromide based Batteries, and partnerships with global companies, ACIL is positioned to support India’s renewable energy, semiconductor, and industrial transformation.
About Ankur Capital:
Founded in 2014, Ankur Capital is an early-stage venture capital firm in India, investing in digital and deep science technology companies. Ankur Capital has backed over 30 companies across sectors including category leaders such as Captain Fresh (B2B Commerce), Vegrow (B2B Commerce), StringBio (Synthetic biology), OffGrid Energy Labs (Battery Chemistry), Agrizy (B2B Commerce), Superfone (Neo-telco) and Niramai (AI Medtech) among others. The firm has offices in Mumbai, Delhi and Bangalore. More at www.ankurcapital.com.
