- Robert wills instagrid full#
- Robert wills instagrid software#
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Instagrid is the fourth investment out of the €100M SET Fund III whose final closing was just announced one month ago. SET Ventures turned out to be the winner of the VC beauty contest and was awarded the lead investor crown in return for writing a beautiful and big cheque covering the major part of the €8.5M financial injection. The perfect match between a startup and its investors not only depends on the price the investors are willing to pay for their shares, often the main reason for missing a deal, but also on good chemistry, track record and a common growth strategy that should be co-developed during due diligence and post-investment. 5 days ago, the Co-CEOs told us that their A round was 3-fold oversubscribed and included several term sheets from regular Ecosummit investors.
Robert wills instagrid series#
A few weeks later, Andreas and Sebastian booked their tickets for Ecosummit Berlin 2019 to launch their Series A on stage and Ecosummit TV. In January 2019, they closed their seven-figure seed round with participation from HTGF, Segnalita Ventures and Martin Global. We actually discovered Instagrid in our Linkedin feed shortly after its foundation and organised our initial call in March 2018 when they were already confident about raising a good seed round.
Robert wills instagrid full#
In the future, Instagrid also plans to launch their own consumer brand with a battery-as-a-service business model to reach new market segments and realise the full market potential. The new capital will be used to double the headcount from 20 to 40 in the next 12 months with a special focus on hiring an experienced CFO as soon as possible. Instagrid is a fabless startup without its own factory outsourcing battery production to a European contract manufacturing partner and plans to deliver thousands of units to their channel partners in Summer 2020.
Another use case is mobile EV charging as Instagrid’s batteries can also be stacked to provide more power.
Robert wills instagrid professional#
Initial target markets include construction and professional gardening. In reality, Instagrid’s battery is easy to carry around and delivers grid-like power with 230V and 3.6 KW to any equipment, packing enough energy for an entire offgrid workday wherever you go. Each battery cell is controlled by its own power converter which enables intelligent swarm-like behaviour within a software-defined battery.
Robert wills instagrid software#
However, the Co-Founders’ self-confidence stems from a very small, low-cost and highly efficient AC/DC power converter and distributed software developed inhouse over 2 years. Instagrid claims that they have the world’s most advanced mobile battery. Andreas and Sebastian opted for becoming Co-CEOs as they preferred to experience the learning curve of the Founder CEO in parallel and always with a human backup at hand. At Bosch’s Power Tools unit, they identified the market opportunity for a sophisticated mobile battery for professionals working in the field and decided to leave the safe harbour of the corporate behind and start their own company. The Stuttgart-based startup was co-founded in January 2018 by the impressive duo Sebastian Berning (PhD in Physics from University of Göttingen) and Andreas Sedlmayr (PhD in Material Science from Karlsruhe Institute of Technology) who worked together for 5 years at Robert Bosch honing their technical development, product management and supply chain skills. While this sounds very romantic, the A round is a major milestone for every startup and the beginning of a long-lasting relationship with many board meetings and follow-ons until the M&A or IPO exit. In fact, Instagrid and SET Ventures met for the first time at Ecosummit Berlin 2019. At the same time, this transaction boosts our Ecosummit track record of successfully matching startups and investors.
Today Instagrid makes a big step forward and celebrates the closing of its €8.5M Series A led by SET Ventures and joined by Segnalita Ventures, part of the Swarovski family office which also owns Tyrolit, Germany’s early stage power house HTGF and the Frankfurt-based family office oup.
Their solution is replacing stinky diesel gensets with silent mobile batteries. Their goal is smart green electrification without local CO2 emissions. They take mobile electricity where it has never gone before.
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