Amber Electric raises EUR 49 million to expand battery automation into Europe
Amber Electric raised EUR 49 million in Series E funding to finance the Australian battery-automation company's expansion into Europe, according to ESS News.
The round was led by 1GT, Morgan Stanley's climate technology fund, with participation from existing backers including German utility E.ON, Environmental Technologies Fund (ETF Partners), and Innovation Victoria, according to RenewEconomy. Amber said the round was nearly twice oversubscribed.
Amber operates a battery-automation platform for home storage systems. The Series E proceeds are earmarked to fund the company's move into European markets.
Source: ess-news.com (opens in a new tab)2 sourcesPermalink