As there is a necessity to conserve energy and improve efficiency to make a better world for tomorrow, Stuttgart-based instagrid builds infrastructure for the same with its portable power supply. It intends to build software-defined batteries that are accessible to everyone.
Founded in 2018 by Andreas Sedlmayr and Sebastian Berning, this German cleantech company is specialised in developing portable battery equipment and offering a mobile power supply for those working in temporary locations.
Secures funding to scale up business!
In a recent development, instagrid has announced that it has secured €8.5 million Series A funding. This investment round has been led by Amsterdam-based SET Ventures along with participation from Austria-based active early-stage investor Segnalita Ventures, German seed investor High-Tech Gründerfonds, and an undisclosed German family office.
The German cleantech startup has a clear roadmap chalked out to use the new funding. The investment will be used to expand its team, amplify its contribution to the mobile power revolution and energy transition, and scale-up production.