Energy Storage Startup AmpereHour Energy Bags $5 Mn

SUMMARY

Pune-based AmpereHour Energy secures $5 Mn Series A funding led by Avaana Capital to expand operations and R&D

Founded in 2017, the company offers BESS solutions managed by its proprietary ELINA software with 40 MWh commissioned

The startup counts major corporations like Siemens, Coca-Cola, and Amazon among its customer base

Pune-based energy storage solutions provider AmpereHour Energy has raised $5 Mn (about INR 43.5 Cr) in its Series A funding round led by Avaana Capital, with participation from UC Impower and existing angel investors.

The startup will use the fresh capital to accelerate the deployment of its energy storage solutions, expand manufacturing capabilities, enhance R&D efforts, and broaden its product offerings.

Founded in 2017 by IIT Bombay alumni Ayush Misra, Rahul Shelke, Harshal Thakur, and Neehar Jathar, AmpereHour Energy develops modular, scalable, and software-led battery energy storage systems (BESS).

The startup claims that its proprietary ELINA Energy Management Software optimises battery performance and enables flexible utilisation across various applications.

AmpereHour Energy claims to have already commissioned projects of 40 MWh, with about 1,000 MWh under execution. It offers turnkey engineering, procurement and construction (EPC) services for seamless integration.

It counts Indigrid, Cummins, Siemens, Coca-Cola, Amazon, and Yellow Door (UAE) among its customers.

Commenting on the funding, CEO and cofounder Misra said, “The current investment round is another vote of confidence in AmpereHour Energy’s expertise and ability to create technological innovation as well as deliver projects at scale.”

The funding comes at a time when increasing awareness about climate change and the need to reduce carbon emissions has resulted in the climate tech sector seeing a lot of traction. As a result, Indian climate tech startups have raised a total funding of more than $4 Bn since 2014.

Most recently, FluxGen raised INR 28 Cr ($3.36 Mn) in its pre-Series A funding round led by IAN Alpha Fund. Last month, Bengaluru-based The Energy Company secured $2 Mn (around INR 17.4 Cr).

In December last year, Sustainiam secured $1.45 Mn (about INR 12.3 Cr) in its pre-Series A round led by Orios Venture Partners.