Ludwigsburg-based Instagrid, a provider of portable battery storage to create mobile power infrastructures, announced that it has raised $33M in its Series B round of funding.
The company has now raised a total funding of more than $45M.
The round was led by Energy Impact Partners (EIP), a US-based venture capital firm that invests in businesses building a sustainable future.
Existing investors, including SET Ventures, Segnalita Ventures, blueworld group, High-Tech Gründerfonds, and Wille Finance AG also participated in this round. Amsterdam-based SET Ventures invests in European technology companies that positively impact the energy system transition.
Instagrid claims that it will use the fresh funds to accelerate its international expansion in Europe and the US. In addition, the battery platform will expand to include digital services and connectivity, enabling smart, customised energy solutions in the future.
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’s claimed high-performance battery makes it possible to use electricity from renewable sources in any location.
Its technology replaces environmentally harmful combustion engines, such as those primarily used today for portable power for construction, events or off-grid areas.
The company wants to provide clean mobile power for the off-grid economy to power their work in a sustainable way. Every year, 50 million fossil-fueled combustion engines are sold.
So far, this segment has received little attention in the energy transition, despite generating high CO2 and pollutant emissions. Instagrid claims to reduce CO2 emissions by up to 85 per cent over the entire product life-cycle.
Instagrid’s product, Instagrid ONE, provides professionals in sectors such as construction, events or public safety with reliable and efficient access to electricity to replace highly polluting generators.
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