IIT Madras–incubated Wankel Energy Systems has closed a $1 million pre-seed round led by Shastra VC and strategic angel backers to scale a technology that converts waste industrial steam into usable power. The startup was born from a DST project and has been testing pilot units in sectors like dairy and textiles.

The capital will support deployment of over 1,000 steam-expander modules across various industries, further R&D, and commercial validation. With industrial steam loss estimated at high levels in India, this tech offers decarbonization and cost savings, making it relevant to sectors ranging from food processing to chemicals.