The start-up is working on portable power storage and wants to reduce the volume of the batteries. Whether for construction site, concert or garden work, Instagrid develops compact battery storage which could replace a gasoline-powered internal combustion engine or generator in various industries. This one year old start-up now receives an undefined amount in the single-digit million range from investors.
The money should help with the further development of technology and business model. Currently, Instagrid sells the products as a white-label solution through various distribution partners. In the future, they want to build their own brand and finally rent the battery storage and settle depending on usage.
“This is based on the data, which captures an integrated Internet of Things connection,” says co-founder Sebastian Berning.
Mix of hardware and software
Thus, the start-up relies on a billing model, which enables recurring revenues and is also being tested more and more frequently in industry. The start-up has its sights set on the construction industry, event technology, landscaping and horticulture. Even at the fire department and other aid organizations, the founders can imagine their memory well in action.
According to their own statements, Instagrid relies on ready-to-sell battery components, which are recombined by the start-up. In addition a software solution comes, which is to increase the efficiency. The result is a portable energy storage system that can replace existing internal combustion engines and, according to Instagrid, significantly lower operating costs. Currently, five employees are part of the team that is based in Stuttgart.
At the heart of change in many industries
The investors of start-up financing are convinced of the start-up’s potential.
“The high-performance battery storage is a future-proof product across numerous segments,” says Bernhard Letzner, Managing Director of early-stage investor Segnalita Ventures from Austria.
The battery as the centerpiece for upheavals in the transport or energy industry has also been taken up by other German start-ups. For example, Twaice from Munich also uses software to prevent lithium-ion batteries in electric vehicles from aging too quickly. Among other things, Lumenza’s software was used to network photovoltaic systems and battery storage systems.
Also published on Medium.