Instagrid, the German company that uses software to supercharge portable batteries, raises $95M

Instagrid, a startup addressing energy supply challenges, is making strides with its enterprise-grade portable chargers. The company’s flagship product, “One,” has sold 30,000 units, experiencing 100% annual growth. In a Series C funding round, Instagrid secured $95 million, with Teachers’ Venture Growth leading the investment. 

Despite the dominance of lithium-ion batteries, Instagrid focuses on overcoming their limitations. Co-founder Andreas Sedlmayr explained that while lithium-ion technology has improved in terms of cost, energy density, and power density, power conversion has lagged. Instagrid tackled this issue by leveraging software, writing approximately 500,000 lines of code to enhance energy extraction from its 20kg battery, which can be fully recharged in a few hours from a standard electrical socket. 

The funding round was supported by Teachers’ Venture Growth, Morgan Stanley Investment Management’s 1GT climate private equity strategy, and existing investors such as Energy Impact Partners. Instagrid, based in Stuttgart, Germany, has raised a total of $150 million, valuing the startup between $400 million and $500 million. 

Instagrid targets enterprise scenarios, serving industrial customers, utility providers, medical and emergency services, and media companies. The company focuses on generators used to charge electrical machinery when mains electricity is unavailable, offering an eco-friendly alternative to traditional, loud, and costly generators. 

The software element of Instagrid’s system allows organizations to manage batteries remotely, enhancing control and efficiency. The company aims to replace legacy generators with its innovative solution, addressing both environmental concerns and the need for better control and management of power sources.