Energy Storage Startup AmpereHour Energy Bags $5 Mn From Avaana Capital

AmpereHour Energy, an energy storage startup, has raised $5 million (about Rs 43.6 crore) in funding from climate focused fund Avaana Capital.

The round also saw participation from UC Impower, the climate and sustainability focused fund of early-stage VC Capria, along with some existing angel investors.

Funding Utilisation 

The startup plans to use the funds to grow its manufacturing and software capabilities, improve research and development (R&D), and boost product development.

The startup is also using some of the funds to expand into new areas. It currently has projects in Oman, Nigeria, and Belgium, and is working on an energy storage project in the UAE.

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“A lot of the proceeds of this fundraise will be utilised for providing the adequate financial strength to be able to execute our pipeline. In addition to this, as a technology company, we have to also invest a lot of the capital into building better hardware solutions or software solutions,” said Ayush Mishra, CEO of AmpereHour.

“As the world transitions to renewable energy, energy storage is becoming an increasingly critical part of the power value chain. The inherently intermittent nature of solar and wind energy, along with the mismatch in time of energy generation and consumption, demands a buffer that can store and dispatch energy on demand,” said Anjali Bansal, founding partner, Avaana Capital.

About AmpereHour Energy

Founded in 2017 by Ayush Mishra, Rahul Shelke, Harshal Thakur and Neehar Jathar, the Mumbai-based AmpereHour Energy creates battery storage systems that help businesses and power grids store and manage electricity more efficiently. The company focuses on energy storage for power infrastructure.

It works with major clients like Amazon, Siemens, Coca-Cola, and Indigrid, and has completed projects in over 50 locations. Mishra mentioned that AmpereHour is currently setting up 50 megawatt-hours (MWh) of storage and plans to increase it to 1 gigawatt-hour (GWh) in the next 18 months.

AmpereHour’s Elina software improves battery performance for renewable energy use, backup power and grid stability.

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