Amber Electric raises €49m to bring home battery automation to Europe

Melbourne-based Amber Electric has raised €49m in a Series E round led by 1GT, Morgan Stanley Investment Management's climate equity fund, with E.ON participating. The funding will support growth and European expansion; its SmartShift platform optimises home batteries, rooftop solar and EVs against wholesale energy prices.

• €49m Series E led by 1GT, with E.ON participating
• Amber holds over 50% of Australia's automated battery market
• SmartShift optimises home batteries, solar and EVs in real time
• Valuation and first European markets were not disclosed