Instagrid receives $33 million

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

Ludwigsburg-based start-up Instagrid has taken home $33 million from a Series B financing round. U.S. venture capital firm Energy Impact Partners (EIP) led the round, as the industry platform Chemie.de reports. The company makes high-performance mobile battery systems for professionals.

In total, Instagrid has thus received investments totaling $45 million. The company wants to use the money to focus more on internationalization in Europe and the United States. Instagrid also wants to add digital offerings to its battery platform. This should enable the company to offer personalized energy solutions in the future.

"We are very pleased to be able to use the fresh capital to make an even better contribution to the switch 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 independent of the power grid. Due to their comparatively low weight, users can take the battery storage units with them to any location, advertises Instagrid.

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

Instagrid has already won many construction companies, service and infrastructure providers as customers. Among them are the companies Strabag, Skanska Rental and the Swiss Federal Railways SBB.