Instagrid closes successful Series C financing round with 95 million US dollars

Battery system provider Instagrid secures $95 million in a Series C funding round to accelerate growth and expand into the North American market

Instagrid, a European provider of portable battery systems, has successfully closed a $95 million Series C financing round. The financing round is led by Teachers Venture Growth ("TVG") as part of its climate-tech strategy and also includes participation from Morgan Stanley Investment Management's (MSIM) 1GT climate private equity strategy as well as existing investors such as Energy Impact Partners, SET Ventures, blueworld.group and High-Tech Gründerfonds.

Turnover more than doubled in one year

The funds will be used to further accelerate Instagrid's growth and expand its products to the North American market. The company more than doubled its turnover in 2023 and now plans to decarbonize the decentralized power supply in North America. The product range will be expanded to include larger mobile battery storage systems to meet the growing demand for clean mobile power solutions.

Our products are significantly more compact, more powerful and more mobile than other battery systems.

Dr. Sebastian Berning, Co-Founder and Co-CEO Instagrid

Instagrid seeks to position itself as a sustainable alternative to gasoline and diesel generators and has so far delivered around 30,000 units of its Instagrid ONE to 29 countries. The company's technology enables zero-emission mobile working in various industries such as construction, film production, events and emergency services.

Rich Romer CEO for US market

To drive expansion in North America, Instagrid has hired Rich Romer as US CEO and plans to open new locations and launch new products for the North American market. Funding from long-term strategic partners, including Teachers Venture Growth, reflects Instagrid's strong market position and will help bring innovative products to market in the future.

Instagrid's co-founders and co-CEOs, Dr. Sebastian Berning and Dr. Andreas Sedlmayr, emphasize the already proven performance of their products in Europe and are pleased to have the support of leading global investors. Instagrid focuses on the decarbonization of decentralized energy supply and has received more than 145 million US dollars in investor funding to date.

Large-scale mobile storage in the pipeline

Instagrid products, including the flagship product Instagrid ONE, enable the use of electricity from renewable sources in remote locations. The mobile battery is long-lasting enough to power heavy equipment for an entire working day and offers a sustainable alternative to conventional generators.

The planned expansion of the product portfolio to include a large-scale mobile storage unit aims to supply film sets or construction sites with renewable energy while reducing emissions. Instagrid products are characterized by zero local emissions and a significantly lower carbon footprint compared to generators.

Instagrid's customers include companies from various industries, including construction, the film industry, event technology, media companies and emergency services. Instagrid is also part of the Clean Mobile Power Initiative, funded by Netflix and Disney, and offers its equipment for rent at locations across Europe.