Germany’s innovative tech startup Instagrid has recently secured a substantial Series C funding of $95 million. This funding round was led by Teachers’ Venture Growth (TVG) and supported by Morgan Stanley Investment Management’s (MSIM) climate private equity strategy. Existing investors like Energy Impact Partners and SET Ventures also participated. Founded in 2018 in Stuttgart, Instagrid has raised about $55 million prior to this round. The company is now valued between $400 million and $500 million.
Revolutionizing portable power
Instagrid, co-founded by Andreas Sedlmayr and Sebastian Berning, specializes in using software to enhance portable battery performance. Both founders hold PhDs in material science and have a background in battery technology at Bosch. Instagrid’s flagship product, “One,” has sold 30,000 units and is growing annually at 100%.
Sedlmayr mentioned, “In lithium ion over the last 10 years, costs have decreased by 90% and energy density has increased by 300%, and power density by 400%. But power conversion hasn’t kept up.” Addressing this, Instagrid has developed around 500,000 lines of software code to optimize energy extraction from its 20kg, 42x21x42cm-sized battery.
Tackling environmental & control challenges
Instagrid is not just about powerful batteries but also focuses on environmental and control challenges. The startup aims to replace fuel-powered generators, which are expensive, noisy, and harmful to the environment. A study in the humanitarian aid sector reported around 11,000 fuel-powered generators in use, with agencies spending over $100 million on fuel annually, emitting almost 200,000 tonnes of CO2. Instagrid offers a more controllable alternative with its software-based system, allowing organizations to manage their batteries efficiently.
Expanding horizons
The company focuses on enterprise scenarios, targeting industrial customers, utility providers, medical and emergency services, and media companies. Avid Larizadeh-Duggan of TVG highlighted Instagrid’s use of software to extract higher performance from battery cells as a key investment factor. She said, “Instagrid solves this through proprietary power electronics and software which extract unrivalled peak power and allow Instagrid products to power anything with a plug.” The company’s future plans include enhancing monitoring, improving energy management algorithms, and developing more hardware. Sedlmayr assured robust security for their systems amid growing cyber threats.
Instagrid stands at the forefront of battery technology, with a material-agnostic approach, ready to adapt to emerging battery designs. This funding will undoubtedly fuel Instagrid’s mission to redefine the portable power industry.
—
Interested in working with us? Get in touch with one of the PL Talents’ experts – we are the number one tech recruitment specialist in Germany.