Instagrid, a Stuttgart-based manufacturer of portable battery systems for professional users, has secured a 95 million dollar investment for expansion into North America. The Series C funding round was led by Teachers Venture Growth, a venture capital investor belonging to the Ontario Teachers’ Pension Plan (OTPP), a Canadian pension fund for teachers in Ontario. Also participating are US asset manager Morgan Stanley Investment Management, as well as existing investors including US investment firm Energy Impact Partners, Dutch venture capital investor Set Ventures, Frankfurt-based investor Blueworld.group, and the High-Tech Gründerfonds. The Chairman of the Supervisory Board, Pierre-Pascal Urbon, also participated in the round. OTPP was advised on the investment by Taylor Wessing.

Instagrid, founded in 2018 by Sebastian Berning and Andreas Sedlmayr, has raised more than 145 million dollars in total from investors. With its mobile power supply systems, the startup aims to replace environmentally harmful petrol or diesel generators in professional work environments such as construction sites, events, film sets, or rescue operations. Sedlmayr explains that portable batteries available in the market were previously focused solely on areas like camping or leisure. However, the energy demand in professional applications is higher. After many years in the battery industry, they identified a crucial market gap.

According to the company, its revenue more than doubled in the past year. Customers include the Swiss Federal Railways SBB, the Red Cross, and Austrian construction company Strabag.

Instagrid intends to penetrate the North American market and diversify its product range by introducing larger mobile battery systems. A forthcoming mobile storage solution is designed to provide power for complete film sets or construction sites.

If all goes well, Instagrid's developments could potentially contribute to an industry-wide revival of climate tech investments. Last year, according to the consulting firm PwC, approximately 1.3 billion dollars in venture capital flowed into German companies offering climate protection technologies – a decrease of 48% compared to the previous year. Germany is one of the most important players in the sector, along with the US, China, the UK, Sweden, and France.