Ludwigsburg-based Instagrid, a provider of high-performance portable battery systems, announced that it has secured $95M (nearly €87.43M) in a Series C round of funding.
To date, the startup has raised over $145M (nearly €133.45M).
Investors supporting Instagrid
The investment was led by Teachers’ Venture Growth (TVG) from the Ontario Teachers’ Pension Plan, along with participation from Morgan Stanley Investment Management’s 1GT climate private equity strategy.
Existing investors include Energy Impact Partners, SET Ventures, blueworld.group, Hightech Gründerfonds, and advisory board chair Pierre-Pascal Urbon also participated in this round.
As part of the investment round, Kieran Mahanty, TVG’s climate lead for EMEA, will join Instagrid’s Board.
Avid Larizadeh-Duggan, Senior MD and Head of TVG in EMEA says, “More than 50 million small, non-road combustion engines are built each year – almost all of these should be replaced by battery systems which are lower carbon, lower total cost and create a far better work environment for operators.”
“Instagrid is making this transition possible, for the first time, by engineering battery systems which outperform the peak power of gas generators, making renewable energy accessible to businesses en masse.”
“We have seen that Instagrid’s customers love the product and we are excited about the opportunity for Instagrid to work with our real estate, infrastructure and other portfolio companies to help them decarbonise operations in a meaningful way.”
Capital utilisation
Instagrid claims that its revenues more than doubled in 2023. The raised funds will fuel the company’s expansion into the North American market, ramp up production, and broaden its mobile power solutions to drive the decarbonisation of off-grid power.
Instagrid, offering a sustainable alternative to fossil fuel generators, has shipped nearly 30,000 units of its flagship product to 29 countries since its launch two years ago.
Anticipating continued demand for clean mobile power solutions, especially with favourable policies in Europe and North America, Instagrid claims it is poised for growth.
In its North American expansion, the company has appointed US CEO Rich Romer, with plans to establish offices, expand the team, and introduce new products for the US and Canada.
Dr Sebastian Berning, co-founder and co-CEO of Instagrid, says, “Our innovative products have already proven themselves in the market to customers across Europe, and the environmental and health benefits of our portable batteries over combustion generators have been demonstrated.”
“Thanks to our unique, proprietary technology, we are sector-leading and peerless in terms of reliability, power, and durability. Our products are significantly more compact, powerful, and mobile than other battery systems.”
“Securing funding from such long-term strategic and experienced partners reflects our strong momentum and will enable us to build on the technology that underpins our success and bring more category-defining products to the market in the near future,” adds Berning.
Portable energy reinvented
Founded in 2018 by Andreas Sedlmayr and Sebastian Berning, Instagrid specialises in mobile off-grid batteries, driving the energy system transition for off-grid electricity, which is still dominated by combustion engines.
The company claims that its technology, featuring stacked micro-level inverters, offers smaller, lighter, and more powerful solutions than traditional battery systems.
Co-founder Sedlmayr says, “We founded Instagrid to decarbonise off-grid power and make it available to anyone, anywhere, anytime.”
“Having worked for several years in the battery industry, we saw a crucial gap in the market – numerous portable batteries catered to camping and leisure, but what was missing was a powerful and scalable portable battery solution for professionals.”
“Our customers are leading the way by replacing their combustion generators with Instagrids to increase efficiency, cut down operating costs, and provide pollution-free workplaces.”
Instagrid’s portable battery, the Instagrid ONE, is both lightweight and powerful, suitable for remote locations. On a single charge, it can run welding equipment for a day, pump 55,000+ litres of water, or handle heavy-duty tasks like cutting through concrete.
The company is extending its technology to offer mobile battery solutions, including a large-scale system for film sets and construction sites. Its products offer zero exhaust emissions, up to 97 per cent lower carbon footprints, and 82 per cent lower lifetime costs than traditional generators.
Instagrid’s clientele spans construction, film, events, and emergency services, with customers like Skanska and Loxam. Swiss Federal Railways and the Red Cross also rely on Instagrid.
The company is also a part of the Clean Power Mobile Initiative funded by Netflix and Disney, and users can conveniently rent Instagrid units across Europe.
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