IIT Madras start-up Wankel Energy raises $1 million to expand clean energy tech

Deep Tech Funding Update

• October 24, 2025

Wankel Energy Systems, a Chennai-based deep-tech venture incubated at IIT Madras, has secured $1 million in pre-seed financing. The round was spearheaded by Shastra VC alongside strategic angel investors.

Developed by IIT Madras researchers, the company’s patented Phoenix Expander captures unused energy from industrial steam pressure valves (PRVs) and transforms it into renewable electricity.

India’s industrial sector operates more than 45,000 steam boilers producing over 1.26 billion tonnes of steam yearly across food processing, textiles, and chemical industries. Current systems waste nearly ₹66,000 crore annually through energy loss at PRV sites.

The funding will enable pilot deployments of six Phoenix systems in industrial settings, with plans to scale to 1,000+ installations across India and international markets within ten years.

Each unit integrates with existing infrastructure, delivering 6–24 month investment returns while cutting operational costs by up to ₹50 lakh per valve annually. The technology further reduces carbon footprints by eliminating over 180 tonnes of CO₂ per installation yearly.

Professor Satyanarayanan Seshadri, Co-founder and Advisor, remarked: “Industrial steam systems represent massive untapped energy potential. Our expander recovers this waste, enhancing efficiency while advancing environmental goals.”

This advancement highlights India’s growing capacity to engineer clean-technology solutions that redefine industrial sustainability worldwide.