Renewable energy supplier Amber Electric has raised $78.5 million in a Series E, nearly doubling its round size plan as it looks to expand globally.
The raise was led by 1GT, Morgan Stanley’s climate tech fund, with support from existing investors ETF Partners (Environmental Technologies Fund), state government backed Innovation Victoria and E.ON.
Amber has built Australia’s largest residential battery automation product, with around half the local market.
Cofounder and co-CEO Chris Thompson said they’ll use the funds to double down on expansion across Europe.
“We’ve built the winning energy automation platform in Australia, and this funding will enable us to extend our leadership across Europe,” he said.
“Our partnership with E.ON is already showing what’s possible, and we’re excited to build on that momentum with more partners across the region.”
Alongside giving subscribers access to real-time wholesale electricity prices, Amber‘s platform also lets people with a home battery – or one on wheels in an EVs to renewable power from the grid when it’s cheaper, and sell excess energy back to the grid at the same price as large generators earn when prices spike.
In June, federal government renewables investor ARENA backed Amber with $13.6 million to expand its vehicle-to-grid (V2G) program in 1,000 homes.
Amber is now releasing the next generation of this technology, including vehicle-to-grid (V2G) functionality, which is letting early customers earn money by selling energy from their EV back to the grid when it’s needed most.
UK utility E.ON Next tipped in $10m 12 months ago and the Amber platform underpinned its launch for British battery and solar households in March 2026 this year.
Founded in 2017 Amber’s last major raise was $45 million Series D in June 2025, following a $29 million in a Series C in early 2024, as well as a $33.4 million Series B that spanned 2021-22. The cap table also includes CBA, Square Peg, Main Sequence and motoring mutual the NRMA.
1GT’s Vikram Raju said they were keen to support the broader transformation of electricity systems in Australia and Europe.
“We believe the company’s innovative platform, talented team and clear strategic vision position it well to capitalise on the growing need for distributed energy solutions across global markets,” he said.
