Daily Indian Startup Funding Roundup & Key News – 22nd January 2026: Meine Electric Raises $750K, Chargeup Secures INR 22 Cr, Reliance to Resume Russian Oil Buys & Razorpay Gets RBI Nod
India’s startup ecosystem stayed active on 22nd January 2026, with notable funding activity across deeptech and EV mobility, alongside major business headlines shaping the broader market landscape. Meine Electric raised $750K in a pre-seed round to accelerate its iron-air long-duration energy storage innovation, while Chargeup secured INR 22 Cr to scale its EV driver-first platform amid increasing three-wheeler electrification. On the business front, Reliance Industries is set to resume procurement of sanctions-compliant Russian crude in February–March, while Razorpay received RBI approval to expand into physical (offline) payment aggregation—signaling stronger fintech momentum in omnichannel payments.
Daily Indian Startup Funding Roundup - 22nd January 2026
| Company | Amount | Round | Lead investor(s) | Sector |
|---|---|---|---|---|
| Meine Electric | $750K | Pre-seed | Antler; Rebalance; Venture Catalysts (with participation from gradCapital, AIC-AU Incubation Foundation & angel investors) | Deeptech / Energy storage (Iron-air battery, LDES) |
| Chargeup | INR 22 Cr | Funding round | IAN Group; Capital-A; existing investors | EV mobility / Driver-first EV tech platform (3-wheeler last-mile) |
Deeptech startup Meine Electric raises $750K in pre-seed round
Deeptech energy storage startup Meine Electric has raised $750,000 in a pre-seed round led by Antler, Rebalance and Venture Catalysts. The company will use the funds to move from lab-stage prototypes to pilot-ready iron-air long-duration energy storage systems (16–24 hours) and strengthen R&D and engineering. Founded in 2023, Meine Electric is building iron-air batteries aimed at enabling round-the-clock renewable energy usage and claims lower storage cost vs conventional solutions.
IAN Group backs Chargeup in INR 22 Cr funding round
EV-focused mobility startup Chargeup has raised INR 22 Cr in a funding round backed by IAN Group, along with Capital-A and existing investors. The proceeds will be used to expand into high-demand EV markets, strengthen its technology platform for drivers and lenders, and scale operations across regions with rising electric three-wheeler adoption. Founded in 2019, Chargeup runs a driver-first EV platform that uses IoT and data tools to reduce lending risk for NBFCs and improve driver earnings stability.
Key Business News for 22nd January 2026
Reliance Industries to Purchase Sanctions-Compliant Russian Oil in February–March
Reliance Industries is set to resume purchases of sanctions-compliant Russian crude in February and March 2026, after temporarily pausing imports for about a month. The company will reportedly source shipments via non-sanctioned sellers, ensuring compliance with global sanctions frameworks while continuing refinery operations at its Jamnagar complex. This comes after Reliance earlier received a limited US concession related to wind-down timelines for dealings with sanctioned entities.
Razorpay Receives RBI Approval to Expand into Physical Payment Aggregation
Fintech major Razorpay has received RBI approval to expand into physical (offline) payment aggregation, strengthening its ability to support merchant payments through in-store channels and the wider PoS ecosystem. The move positions Razorpay to grow beyond online payment aggregation and deepen its presence across omni-channel merchant solutions.
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