Instagrid Secures $75M in Funding Round for Expansion and Sustainable Off-Grid Power Solutions
In a significant funding round, Instagrid, founded in 2018 by Dr. Sebastian Berning and Dr. Andreas Sedelmayr, has successfully raised $75 million.
The round, led by Teachers’ Venture Growth (TVG), a division of the C$250 billion Ontario Teachers’ Pension Plan, saw participation from Morgan Stanley Investment Management (MSIM) 1GT climate private equity strategy, along with contributions from existing investors.
North American Market Entry and Production Boost
With the total funding amount now reaching $145 million, Instagrid plans to utilize these funds for strategic purposes.
The company aims to penetrate the North American market, ramp up production capabilities, and expand its portfolio of mobile power solutions dedicated to decarbonizing off-grid power.
Revolutionizing Off-Grid Power with Advanced Portable Battery Systems
Instagrid has made a mark in the industry with its innovative portable battery systems designed to replace fossil generators in sectors such as construction, events, film, media, and emergency services.
The distinctive feature of Instagrid’s products lies in their architecture of stacked micro-level inverters, making them remarkably compact, lightweight, and powerful compared to traditional battery systems.
The portable power solutions by Instagrid offer reliable, efficient access to clean, affordable, and silent electricity.
Strategic Steps for North American Expansion
As part of its expansion strategy into North America, Instagrid has appointed Rich Romer as the US CEO.
The company intends to establish offices, conduct strategic hiring across various divisions, and unveil new products tailored for deployment in the United States and Canada.
Continued Growth and Sustainable Solutions
This funding round signifies a milestone for Instagrid, paving the way for sustained growth and advancements in providing sustainable off-grid power solutions.
The participation of key investors and the company’s strategic initiatives position Instagrid as a frontrunner in the pursuit of clean, portable energy solutions.
Instagrid, founded by visionaries Dr. Sebastian Berning and Dr. Andreas Sedelmayr, stands at the forefront of technological innovation in the portable power sector.
The company’s commitment to decarbonizing off-grid power and creating efficient, environmentally friendly solutions has garnered substantial support from investors, solidifying its position as a leader in the clean energy landscape.Share on Facebook «||» Share on Twitter «||» Share on Reddit «||» Share on LinkedIn