A-SERIES FINANCING ROUND COMPLETED
We are happy to announce that we have successfully completed our A-series financing round! Totalling €8.5 million, the Series A funding was led by SET Ventures with participation from High-Tech Gründerfonds, Segnalita Ventures, and a German family office. With the funding, instagrid will expand its team, scale up production and amplify its contribution to the mobile power revolution and energy transition.
Instagrid has developed the world’s most advanced portable power pack to replace highly polluting petrol and diesel generators. Our products offer simple, flexible and emission-free access to grid-like power for professionals on the move. The company was founded in 2018 and we specialise in the development of portable battery equipment, offering a mobile power supply for people working in temporary locations.
In many industries, professional workers are dependent on a reliable and simple power supply. Instagrid is robust solution that far exceeds the technical specifications and capabilities of what is available on the market today. We offer grid-like power delivered from a portable source, with solutions for the construction industry, event organisers, gardeners, fire brigades, disaster recovery and humanitarian organisations.
To reduce cost, size and weight of the portable power system, we have developed a modular ‘Software Defined Battery’ technology. The result is a 90% reduction in space and weight required for power conversion and a corresponding reduction in overall system cost. Compared with generators and combustion engines, the new device is light and compact, with 40% lower operating costs and no local emissions.
ABOUT OUR INVESTORS:
Amsterdam-based SET Ventures has invested in European technology companies that impact the future of the energy system. SET Ventures focuses broadly on innovative energy generation, energy distribution & storage and energy efficiency.
High-Tech Gründerfonds (HTGF), based in Bonn, Germany is a seed investor that finances high-potential, tech-driven startups. HTGF’s focus is on high-tech start-ups in a range of sectors, including software, media, internet, hardware, automation, health care, chemicals and life sciences.
Austrian Segnalita Ventures GmbH is an active early-stage investor concentrating on digital B2B business models with the aim of creating enduring entrepreneurial values.