Sunday, February 23, 2020
Auto Europe Car Rentals
Advertisement

Social Links

Share This

Germany-based instagrid raises €8.5 million for portable batteries that store clean energy

Instagrid, the Stuttgart-based startup creating clean portable batteries, has raised €8.5 million in a Series A round led by SET Ventures, with participation from High-Tech Gründerfonds, Segnalita Ventures, and an undisclosed German family office.

Founded in 2018, the German cleantech company has developed an advanced portable power pack that can replace highly polluting petrol and diesel generators.

In fact, compared such traditional power sources, instagrid’s device is a pioneer in size, cost, and sustainability: it’s 90 percent smaller and lighter, with 40 percent lower operating costs, and zero local emissions.

Essentially, the company’s products offer a mobile power supply — access to grid-like electricity — for people who work in temporary locations, such as construction workers, event organisers, gardeners, disaster recovery teams and humanitarian organisations.

Instagrid sees such solutions as its contribution to the “mobile power revolution” and transition to clean energy.

As for how the new funding will help moving forward, the German startup has its roadmap clearly laid out.

“Instagrid will first sell through recognised brand partners’ existing distribution channels. Premium European tool brands have committed to a widespread market launch of instagrid products in the second half of 2020 and we are finalising the supply-chain to serve them,” said co-founder Dr. Andreas Sedlmayr.

Advertisement
MacMall Deal of the Day

Fellow co-founder Dr. Sebastian Berning added: “Then we will step up our market entry under our own brand through online direct sales. Interacting directly with end users will give us the ability to provide tailored solutions for a range of applications leveraging powerful data insights generated by the integrated IoT connection.”

Commenting on the round, Anton Arts os SET Ventures said, “This funding will enable instagrid to fully scale up its business operations and deliver on the incredible customer demand the company has experienced since launch. We are excited about how fast this experienced team is executing on a very ambitious plan.”

Have something to say about this article? Comment below or follow us on Twitter

Top Tech Europe

Cyber Europe

Apple continues with messages about privacy in European billboards

People who live in Germany can find the new billboards in Berlin and Hamburg. The billboard located in Berlin reads, "Wilkommen im sicheren Sektor," which roughly translates to, "Welcome to...

By Site Owner - Jul.28

European Union

EU think about a five-year ban on facial recognition tech in public areas

The EU is considering banning facial recognition technology in public areas for up to five years, to give it time to work out how to prevent abuses.

By Site Owner - Jan.17

Automotive Europe

Jaguar Land Rover stopping production on certain days in Solihull

Jaguar Land Rover will cut or reduce production at two of its UK factories over the next few weeks.

By Site Owner - Feb.10

Cyber Europe

BMW Group won “Connected Car Award” for use of AI in production

On 7th January, the magazines Auto Bild and Computer Bild presented the BMW Group Production with their Connected Car Award in the Pioneer category.

By Mick Harland - Jan.21

Log in or Sign up