Osborne Clarke has once again advised the battery system provider Instagrid on a successful financing round. The start-up raised a total of USD 95 million in its Series C.

The round was led by Canadian Teachers’ Venture Growth (TVG), the venture capital arm of the CAD 250 billion Ontario Teachers Pension Plan (OTPP). 1GT Fund from Morgan Stanley Investment Management (MSIM) as well as existing investors Energy Impact Partners, SET Ventures, blueworld.group, High-Tech Gründerfonds (HTGF) and Pierre-Pascal Urbon were also involved.

The company more than doubled its turnover in 2023 and now plans to decarbonise the decentralised power supply in North America. To this end, the product range is being expanded to include larger mobile battery storage systems in order to meet the growing demand for clean solutions for mobile power supplies on the other side of the Atlantic.

Instagrid has developed the world's most advanced portable battery systems for professional users with high energy requirements. The products of the Ludwigsburg-based start-up, which was founded in 2018 by Sebastian Berning and Andreas Sedlmayr, enable the use of electricity from renewable sources in any location. The mobile batteries are long-lasting enough to power heavy equipment for an entire working day and offer a sustainable alternative to conventional generators. The company's prominent customers come from a wide range of industries, such as construction, film industry, events and media, and emergency services.

Since entering the market just over two years ago, Instagrid has sold almost 30,000 wearable systems. Former Bosch manager and Instagrid Co-CEO Sebastian Berning announced that the company now wants to sell just as many devices in 2024. The company also plans to double its workforce to 300 employees this year.

Osborne Clarke already advised Instagrid in the previous financing rounds, most recently in the Series B round 2022, under the leadership of Rouven Siegemund (Corporate / VC). Siegemund's team, consisting of Fabian Mimberg, Fenja Striesow, Benedikt Hülsmann (all Corporate / VC), Manuel Schuster, Susanne Schricker (Competition), Dr Jens Wrede (Tax) and Adrian Schneider (IT), has now been able to continue its long-standing collaboration on the Series C financing round.

Share
Corporate communications and press contacts
If you are a journalist and would like comment or background from our legal experts, we can help. Our team will put you in touch with the best person. View a full list of our international press contacts by jurisdiction here.

Connect with one of our experts