AmpereHour Energy Secures $5mn In Series A Funding

AmpereHour Energy Secures $5mn In Series A Funding

Pune-based energy storage solutions company AmpereHour has now bagged a fresh funding of $ 5 million USD in a series A funding. The funding round was led by Avaana Capital. UC Impower and some existing angel investors also participated in the round. AmpereHour Energy is a provider of full-stack energy storage solutions, which is seeking to expand its operations.

The current investment will enable AmpereHour Energy to accelerate the deployment of its innovative solutions, expand its manufacturing capabilities, broaden its product offerings, and further enhance its R&D efforts, it said today in a media release.

AmpereHour Energy’s current customers include clients like Indigrid, Cummins, Siemens, Coca-Cola, Amazon, Yellow Door (UAE), BRPL among others. The company, founded in 2017 by IIT Bombay alumni and power sector experts – Ayush Misra, Rahul Shelke, Harshal Thakur and Neehar Jathar, – specializes in developing and deploying modular, scalable, and software-led battery energy storage systems (BESS), amassing over 1000 MWh of ESS project experience globally, across 50+ BESS sites.

Proprietary ELINA Energy Management Software

Its proprietary ELINA Energy Management Software optimizes battery performance and enables flexible utilization across various applications, from utility-scale projects to commercial and industrial installations. The company’s comprehensive approach includes turnkey EPC services, ensuring seamless integration and long-term reliability for its clients.

“It is a really exciting time to be a battery storage provider” said Ayush Misra, Co-Founder and CEO, AmpereHour Energy. “We are in the early stages of a fundamental change in energy infrastructure globally and battery energy storage is a key enabler to this transition. The current investment round led by Avaana Capital, alongside UC Impower, is another vote of confidence in AmpereHour Energy’s expertise and ability to create technological innovation as well as deliver projects at scale. Our investors’ experience will be invaluable to us in our next phase of growth.”

“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,” Anjali Bansal, Avaana Capital commented.

“AmpereHour Energy’s comprehensive, software-driven approach to energy storage is the type of innovation we need to drive the energy transition ahead. Their focus on economic flexibility, modularity, and long-term reliability aligns perfectly with our mission to invest in strong climate focused solutions. We are delighted to be investing in a company committed to the development and commercialization of technologies that push forward global efforts to achieve net zero by providing affordable and sustainable energy storage solutions through safe and efficient infrastructure,” adds Bansal

With over 40 MWh commissioned and about 1000 MWh currently under execution, AmpereHour Energy has deployed large-scale energy storage projects. “AmpereHour Energy is a market leader in the battery storage space, which has been clear to us from day one owing to the strong team and their differentiated business and technical capabilities,” said Richa Natarajan, Co-founder and Partner at UC Impower. “The space needs players like Ampere, and we are excited to partner and further support the company in its Journey.”