Instagrid, a German company specializing in the development of portable charger technology, has announced the acquisition of $95 million in funding through a Series C financing round. The main investor, Teachers’ Venture Growth (TVG), a late-stage investor, is part of the Ontario Teachers’ Pension Plan. Other participants in this funding round include Morgan Stanley Investment Management’s (MSIM) 1GT Climate Private Equity Strategy, Energy Impact Partners, SET Ventures, blueworld.group, Hightech Gründerfonds, and Pierre-Pascal Urbon, the Chairman of the Advisory Board of Instagrid.
Founded in 2018 and based in Stuttgart, Instagrid is one of the leaders in the development of innovative portable charger solutions. The company focuses on the business sector, providing solutions for enterprises, energy suppliers, medical and rescue services, and media companies. Their flagship product, the “One” charger, has been well-received by customers and has already sold 30,000 units.
Andreas Sedlmayr, Co-founder and Co-CEO of Instagrid, emphasizes that the company has developed advanced software that significantly improves the efficiency of their batteries. As a result, their portable charger, weighing just 20 kg and measuring 42x21x42 cm, can be fully charged in a few hours by simply plugging it into a regular electrical outlet. Instagrid has leveraged its expertise in material science to create software capable of optimizing the use of battery energy.
One of the main problems that Instagrid aims to solve is the ecological aspect of powering diesel generators. Current outdated generators are costly, noisy, and harmful to the environment. Instagrid offers an alternative that is both environmentally friendly and economical. In the humanitarian aid sector alone, there are nearly 11,000 fuel-powered generators emitting significant amounts of carbon dioxide.
Another problem that Instagrid addresses is the controllability of generators. Instagrid utilizes software solutions to allow organizations to remotely manage their batteries as a fleet. This allows them to control where and how energy is consumed, as well as monitor the level of charge and other parameters.
The investment in Instagrid not only supports the development of new technology but also confirms the significant market potential for innovative portable charger solutions. Instagrid intends to use the funds to continue the development of its technology and expand its operations into new markets. As a result, this German company can play a key role in the future of mobile energy and have a positive impact on the environment.
The source of the article is from the blog japan-pc.jp