instagrid, a Stuttgart, Germany-based provider of mobile power infrastructure, raised a seven-figure euro funding round.
The round was led by High-Tech Gründerfonds (HTGF) with participation from Segnalita Ventures GmbH from Austria and the Swiss Martin Global AG.
The company intends to use the funds to bring the product to the market.
Founded on January 1, 2018 by Dr. Sebastian Berning and Dr. Andreas Sedlmayr, instagrid specializes in the development of portable battery storages. The startup offers users a mobile power supply for working at temporary locations.
To reduce the size and weight of the energy source, the company has developed a “Software defined Battery” technology with a modular design.
As a first step, instagrid will sell its battery storage as white label products marketed through its brand partners’ existing distribution channels. Then, they will step up its market entry under its own brand through direct sales online.
The company plans the widespread market launch for major European brand partners in Germany, Austria, Switzerland and Scandinavia for the first half of 2020.