This grid battery startup is raising funds to ramp up in a competitive market


Fortune

Tesla is only the most well-known company that’s using low-cost batteries and software to potentially change how the power grid operates. There are a half dozen others, and one of those is a startup called Advanced Microgrid Solutions that hopes to raise $18.8 million to compete in the space, according to a filing.

The San Francisco-based company, which was founded in 2012, has closed on about $7 million of the round. The filing says there are 14 investors participating in the funding, and previously the company has only disclosed that it has been “funded with private equity from undisclosed sources.”

Advanced Microgrid Solutions takes lithium-ion batteries and uses smart software to manage battery banks for both commercial and industrial customers as well as utilities. These types of battery farms can provide services like backup power for the power grid during peak grid use, energy at night when paired…

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