In a funding round led by climate-focused fund Avaana Capital, energy storage startup AmpereHour Energy has raised $5 million (roughly Rs 43.6 crore), with participation from UC Impower and other current angel investors.
The business had previously raised $2.45 million from AngelList and other sources before this.
According to a press release from AmpereHour Energy, the money will be utilized to boost R&D, advance product development, and increase manufacturing and software capabilities.
AmpereHour Energy, which was co-founded in 2017 by Ayush Misra, Rahul Shelke, Harshal Thakur, and Neehar Jathar, creates battery energy storage systems that assist power grids and businesses in effectively managing and storing electricity. Stationary energy storage for power infrastructure is the company’s area of expertise.
The Mumbai-based company claims that battery performance is optimized for backup power, grid stability, and the integration of renewable energy through its proprietary Elina energy management software.
Among its notable clients are Amazon, Siemens, Coca-Cola, and Indigrid, according to AmpereHour, which has implemented projects in over 50 locations. It is now commissioning roughly 50 megawatt-hours (MWh) of power storage capacity, and based on contracted capacity, it intends to scale up to 1 gigawatt-hour (GWh) within the next 18 months.
Geographic expansion is part of AmpereHour Energy’s plans. In addition to ongoing projects in Nigeria and Oman, it is also currently commissioning projects in Belgium and the United Arab Emirates.
