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.
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.”
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