Instagrid, a trailblazer in high-performance portable battery systems, is making waves with its recent Series C funding bonanza. Clocking in at a hefty €87 million, this influx of capital, led by Teachers’ Venture Growth (TVG) and supported by Morgan Stanley Investment Management’s climate-focused 1GT strategy, is set to catapult Instagrid into uncharted territories.
Founded in the tech-savvy city of Stuttgart in 2018, Instagrid’s journey is nothing short of impressive. They’ve more than doubled their revenues in 2023, a testament to their cutting-edge technology and market appeal. The fresh funds will fuel their ambitious expansion into the North American market, ramp up production, and broaden their array of mobile power solutions, all aimed at decarbonizing off-grid power.
Dr. Sebastian Berning, the co-founder and co-CEO of Instagrid, is a man with a vision. He’s proud of the proven success in the European market, where Instagrid’s products have outshone combustion generators in both environmental and health benefits. “Our tech is unmatched in reliability, power, and durability,” he asserts. The company’s focus is on compact, potent, and mobile solutions, and this new funding is a nod to their robust momentum and innovative technology.
Instagrid’s mission is bold and necessary. They’re offering a green alternative to traditional fossil fuel generators, a boon for industries like construction, film, events, and emergency services. Their flagship product, Instagrid ONE, has already hit nearly 30,000 units in 29 countries since its launch. This battery powerhouse is light and versatile, yet as robust as grid power, making renewable energy usage feasible in the most remote of locations.
What makes Instagrid stand out is its comprehensive approach to powering tomorrow’s industries. Their upcoming large-scale system is set to revolutionize power use in film sets and construction sites, significantly cutting down on size and emissions when compared to existing systems. These products boast zero exhaust emissions and are significantly cheaper and cleaner over their lifespan compared to traditional generators.
The sentiment is echoed by Avid Larizadeh-Duggan of TVG, who highlights the transformative potential of Instagrid’s technology. “We’re replacing millions of combustion engines with our lower-carbon, cost-effective battery systems,” she explains. Instagrid isn’t just making waves; it’s paving the way for a cleaner, more efficient work environment across various industries.
Instagrid’s clientele is as diverse as its potential. From construction giants like Skanska to the European leader in construction rental, Loxam, and even humanitarian organizations like the Red Cross, Instagrid’s technology is proving indispensable. They’re even part of the Clean Power Mobile Initiative, backed by entertainment heavyweights Netflix and Disney.
In a strategic move, Kieran Mahanty, TVG’s climate lead for EMEA, will join Instagrid’s Board. To date, Instagrid has raised over $145 million, a sign of strong investor confidence in its vision and technology.
Vikram Raju of MSIM’s 1GT fund is optimistic about this partnership. “Instagrid is at the forefront of reducing emissions in sectors like construction and logistics,” he says. This partnership is set to revolutionize how these industries are powered, aligning with Morgan Stanley 1GT’s commitment to sustainability.
In conclusion, Instagrid’s recent funding success is more than just a financial win; it’s a leap towards a more sustainable future. With the North American expansion on the horizon, Instagrid is poised to redefine portable power solutions, making clean, renewable energy accessible and practical for industries worldwide. This is just the beginning of a journey that promises to reshape how we think about and use power in our everyday lives.
