Instagrid receives 33 million US dollars

The manufacturer of high-performance battery systems wants to invest the money in its internationalization and develop digital offerings.

The Ludwigsburg-based start-up Instagrid has raised 33 million US dollars from a Series B financing round. The US venture capital firm Energy Impact Partners (EIP) led the round, as reported by the industry platform Chemie.de reports. The company manufactures high-performance mobile battery systems for the professional sector.

Instagrid has thus received investments totaling 45 million US dollars. The company intends to use the money to focus more on internationalization in Europe and the USA. Instagrid also wants to add digital services to its battery platform. This will enable the company to offer personalized energy solutions in the future.

"We are delighted to be able to use the fresh capital to make an even better contribution to the transition to sustainable energy use," says Instagrid co-founder Sebastian Berning. Instagrid's battery storage systems are designed to enable mobile power supply from renewable sources independently of the power grid. Thanks to their comparatively low weight, users can take the battery storage units with them wherever they go, Instagrid advertises.

The Instagrid storage units are intended to replace combustion engines, according to the company's idea. This is because these are still predominantly used on construction sites, at events or in places without a power grid. The company states that 50 million of these fossil combustion engines go into operation every year. This does not even include road traffic.

Instagrid has already acquired many construction companies, service and infrastructure providers as customers. These include Strabag, Skanska Rental and the Swiss Federal Railways SBB.