Power storage startup AmpereHour Power has raised $5 million (roughly Rs 43.6 crore) in a funding spherical led by climate-focused funding agency Avaana Capital, with participation from UC Impower and present angel traders.
This follows the corporate’s earlier funding spherical, the place it secured $2.45 million from AngelList and different traders. The most recent funds shall be utilized to reinforce manufacturing and software program capabilities, drive analysis and growth (R&D), and speed up product innovation.
Based in 2017 by Ayush Misra, Rahul Shelke, Harshal Thakur, and Neehar Jathar, Mumbai-based AmpereHour Power focuses on battery vitality storage programs that assist companies and energy grids in storing and managing electrical energy effectively. The corporate focuses on stationary vitality storage for energy infrastructure.
Its proprietary Elina vitality administration software program is designed to optimize battery efficiency for renewable vitality integration, backup energy, and grid stability. The corporate serves main shoppers, together with Amazon, Siemens, Coca-Cola, and Indigrid, and has deployed initiatives at over 50 places.
Presently, AmpereHour is within the means of commissioning round 50 megawatt-hours (MWh) of vitality storage capability, with plans to scale as much as 1 gigawatt-hour (GWh) over the following 18 months primarily based on present contracts. The corporate can be increasing its geographical presence, with ongoing initiatives in Oman and Nigeria, whereas new ventures in Belgium and the UAE are presently beneath commissioning.
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