Amperesand, a Singapore-based grid infrastructure solutions provider, raised $12.45M in funding.
The round was led by Xora Innovation, and Material Impact, with participation from TDK Ventures, and Foothill Ventures.
The company intends to use the funds to industrialize and manufacture its technology at scale while building its executive team.
Established in 2023, Amperesand provides infrastructure solutions that are empowered by novel solid-state transformer (SST) technology, which enable efficient, intelligent, and resilient electrification on a global scale. Its core SST technology has been validated on the Singapore grid at a 1.5MW scale through a 7-year research program executed by the Energy Research Institute at Nanyang Technology University of Singapore.
The company will first target the EV fast-charging infrastructure market, with initial delivery of systems in the US and Singapore planned for 2025.
FinSMEs
07/02/2024