TLDR:
- Instagrid, a German provider of high-performance portable battery systems, has raised $95 million in Series C funding.
- The round was led by Teachers’ Venture Growth, with participation from Morgan Stanley Investment Management and existing investors.
- The funding will be used to enter the North American market, increase production, and expand the range of mobile power solutions.
Instagrid has raised $95 million in Series C funding in a round led by Teachers’ Venture Growth (TVG), the C$250 billion Ontario Teachers’ Pension Plan. The round also saw participation from Morgan Stanley Investment Management (MSIM) 1GT climate private equity strategy and existing investors Energy Impact Partners, SET Ventures, blueworld.group, and High-Tech Gründerfonds.
Instagrid, founded in 2018, develops portable battery systems to replace fossil generators in sectors such as construction, events, film, media, and emergency services. Its products use stacked micro-level inverters to create smaller, lighter, and more powerful battery systems. The funding will be used to continue the company’s growth by entering the North American market, increasing production, and expanding its range of mobile power solutions to decarbonize off-grid power.
As part of its North American expansion plans, Instagrid has hired Rich Romer as its US CEO and intends to open offices, hire across divisions, and launch new products for use in the United States and Canada.
