Instagrid, a Stuttgart, Germany-based provider of high-performance portable battery systems, raised $95M in Series C funding.
The round, which brought the total amount to $145M, was led by Teachers’ Venture Growth (TVG), part of the C$250bn Ontario Teachers’ Pension Plan, with participation from Morgan Stanley Investment Management (MSIM) 1GT climate private equity strategy. Existing investors Energy Impact Partners, SET Ventures, blueworld.group, and High-Tech Gründerfonds, as well as the chair of the advisory board, Pierre-Pascal Urbon, also contributed to the round. Additional existing investors include Segnalita Ventures and Wille Finance AG.
The company intends to use the funds to continue growth by entering the North American market, increasing production and expanding its range of mobile power solutions to decarbonise off-grid power.
Founded in 2018 by Dr. Sebastian Berning and Dr. Andreas Sedelmayr, Instagrid has developed advanced portable battery systems to replace fossil generators in sectors like construction, events, film, media, and emergency services. Its products feature an architecture of stacked micro-level inverters, which enables them to be significantly smaller, lighter and more powerful than other battery systems. Instagrid portable power systems enable reliable and efficient access to clean, affordable and silent electricity.
As part of its North American expansion, the company have hired US CEO, Rich Romer, and plan to open offices, hire across divisions, and launch new products for use in the United States and Canada.
FinSMEs
23/01/2024