Ludwigsburg-based Instagrid, known for its high-performance portable battery systems, has secured a significant $95M (around €87.43M) in Series C funding, bringing its total raised to over $145M (nearly €133.45M).
This round was led by Teachers’ Venture Growth (TVG) from the Ontario Teachers’ Pension Plan and included Morgan Stanley Investment Management’s 1GT climate private equity strategy, along with continued support from existing investors.
The investment underscores the confidence in Instagrid’s mission to decarbonize off-grid power sources. Avid Larizadeh-Duggan, Senior MD and Head of TVG in EMEA, highlighted the potential of replacing millions of small, non-road combustion engines with Instagrid’s lower carbon, cost-effective battery systems.
Utilizing Capital for Expansion
The company plans to use the funds to enter the North American market, increase production, and expand its range of mobile power solutions. The company has already made significant strides by shipping nearly 30,000 units to 29 countries and is now poised for further growth, especially with favorable policies in Europe and North America.
Co-founder and co-CEO Dr. Sebastian Berning emphasized the proven market success of Instagrid’s products in Europe and the environmental benefits over traditional generators. The funding will enable the german firm to innovate further and introduce more category-defining products.
Reinventing Portable Energy
Founded in 2018, Instagrid is at the forefront of the transition to off-grid electricity, offering solutions that are smaller, lighter, and more powerful than traditional battery systems. The company’s technology, featuring stacked micro-level inverters, is set to change how professionals use portable batteries, offering a powerful, scalable solution.
Their portable battery, the Instagrid ONE, exemplifies the company’s commitment to efficiency, reduced operating costs, and pollution-free workplaces. With its expansion into North America and the introduction of new products, the tech company is leading the way in providing clean mobile power solutions.