Energy storage startup AmpereHour Energy has secured $5 million (approximately Rs 43.6 crore) in funding from Avaana Capital, a climate-focused investment fund, with additional participation from UC Impower, the climate and sustainability fund of early-stage VC Capria, along with support from existing angel investors. The Mumbai-based company intends to use the funds to enhance its manufacturing and software capabilities, boost research and development (R&D), and accelerate product innovation.
Founded in 2017 by IIT Bombay graduates Ayush Mishra, Rahul Shelke, Harshal Thakur, and Neehar Jathar, AmpereHour Energy develops battery energy storage systems designed to help businesses and power grids efficiently store and manage electricity. The company focuses on stationary energy storage solutions for power infrastructure.
“A lot of the proceeds of this fundraising will be utilized to provide adequate financial strength to execute our pipeline. In addition to this, as a technology company, we also have to invest a lot of capital into building better hardware solutions or software solutions,” said Mishra, CEO of AmpereHour.
The company works with prominent clients such as Amazon, Siemens, Coca-Cola, and Indigrid and has implemented projects at over 50 locations. Mishra mentioned that AmpereHour is commissioning around 50 megawatt-hours (MWh) of power storage capacity, with plans to expand to 1 gigawatt-hour (GWh) within 18 months.
AmpereHour Energy’s proprietary Elina energy management software enhances battery performance, enabling efficient renewable energy integration, backup power solutions, and grid stability.
The startup is also allocating a portion of the funding for geographical expansion. It currently has projects in Oman, Nigeria, and Belgium and is developing an energy storage project in the UAE.
Mishra emphasized the increasing demand for energy storage in India, pointing out that the country’s electricity grid currently has less than 500 MWh (0.5 GWh) installed storage capacity. However, he mentioned that recent studies examining generation and consumption patterns predict India will require over 230 GWh of energy storage within the next seven to eight years. “The opportunity remains massive,” he stated.
The funding comes as increasing energy consumption at artificial intelligence (AI) data centers and electric vehicle charging stations further drives demand for batteries and sustainable energy solutions.
“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 and the mismatch in energy generation and consumption demands a buffer that can store and dispatch energy on demand,” said Anjali Bansal, founding partner of Avaana Capital.
