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					</table><p><a href="https://www.amber.com.au/" target="_blank" rel="noopener">Amber</a>, an energy company that automates home batteries and electric vehicles (EVs), has closed a A$78.5 million (~$56 million) Series E funding round.</p>
<p>1GT, Morgan Stanley’s climate technology fund, led the round, with participation from existing investors Environmental Technologies Fund (ETF Partners), Innovation Victoria, and E.ON. Amber said the round was nearly twice oversubscribed.</p>
<p>Amber provides customers with access to real-time wholesale electricity prices and technology that automates home batteries and EVs. Its platform claims to charge batteries and EVs when lower-priced renewable electricity is available and discharge stored energy when wholesale electricity prices rise.</p>
<p>Amber plans to use the funding to scale its technology in Australia, expand across European markets, and invest in products and infrastructure. The capital will also support further development of its home energy management technology and battery and EV automation products.</p>
<p>“This additional capital positions Amber to double down on our expansion across Europe,” said Chris Thompson, co-founder and co-CEO of Amber. “We’ve built the winning energy automation platform in Australia, and this funding will enable us to extend our leadership across Europe. 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.”</p>
<p>According to Mercom’s 1H and Q2 2026 Smart Grid Funding and M&amp;A <a href="https://mercomcapital.com/product/1h-2026-funding-ma-report-smart-grid/" target="_blank" rel="noopener">report</a>, VC funding for Smart Grid companies in 1H 2026 decreased 35% YoY to $711 million across 34 deals, compared with $1.1 billion raised across 41 deals in 1H 2025.</p>
<p>Amber’s technology also supports Next Optimize, a smart energy tariff and home battery and EV automation product offered by E.ON Next.</p>
<p>Amber developed the technology in Australia, which it described as a major market for residential battery adoption. The company is also introducing vehicle-to-grid (V2G) functionality, which allows participating customers to export electricity stored in their EV batteries to the grid.</p>
<p>In August, Emerald AI, a developer of software for managing data center electricity consumption and computing workloads, <a href="https://mercomcapital.com/emerald-ai-raises-150-million-series-a-funding-at-1-05-billion-valuation/" target="_blank" rel="noopener">raised</a> $150 million in an oversubscribed Series A funding round at a $1.05 billion valuation, led by Energize Capital and DCVC.</p>


Amber Raises $56 Million in Series E Funding Round


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					</table><p>Greater Noida-headquartered energy storage solutions provider <a href="https://www.iljin.co.in/" target="_blank" rel="noopener">ILJIN Electronics</a> plans to raise ₹2.96 billion (~$31.79 million) from its parent company, <a href="https://www.ambergroupindia.com/" target="_blank" rel="noopener">Amber Group</a>, through a rights issue.</p>
<p>Upon completion of the transaction, Amber will hold an 89.72% share in ILJIN Electronics, an increase of 0.04%.</p>
<p>The capital infusion will help IL JIN accomplish its strategic initiatives.</p>
<p>The rights issue process, including the allotment of equity shares to eligible equity shareholders, is expected to close on or before April 30, 2026.</p>
<p>ILJIN Electronics’ offerings include high-precision electronics manufacturing services for renewable energy, automotive, smart electronics, consumer durables, telecom, healthcare, industrial, aerospace, and defense sectors.</p>
<p>The company delivers end-to-end solutions encompassing product design support, PCB fabrication and assembly, embedded software, power electronics, and complete box-build systems.</p>
<p>ILJIN Electronics’ turnover stood at ₹14.6 billion (~$156.66 million) in FY 2025, ₹9.13 billion (~$97.96 million) in FY 2024, and ₹8.8 billion (~$94.42 million) in FY 2023.</p>
<p>Besides India, the company has a presence in the U.S., Germany, and Israel.</p>
<p>Last year, ILJIN Electronics India <a href="https://mercomindia.com/energy-solutions-provider-iljin-electronics-raises-%E2%82%B912-billion" target="_blank" rel="noopener">secured</a> ₹12 billion (~$128.86 million) in strategic funding through separate definitive agreements with ChrysCapital and InCred Growth Partners Fund I, along with their respective affiliates.</p>
<p>The company <a href="https://mercomindia.com/il-jin-electronics-forays-into-bess-buys-majority-stake-in-power-one" target="_blank" rel="noopener">forayed</a> into the energy storage market by announcing the acquisition of a majority stake in Bengaluru-based Power One Micro Systems in 2025. Power-One offers battery energy storage systems, solar inverters (on-grid, off-grid, and hybrid), electric vehicle charging solutions, and uninterrupted power supply solutions.</p>
<p>According to Mercom Capital Group’s Annual and Q4 2025 Funding and M&amp;A Report for Energy Storage, venture capital investment in energy storage <a href="https://mercomindia.com/energy-storage-sees-increased-vc-investment-momentum-in-2025" target="_blank" rel="noopener">gained</a> momentum in 2025, rising 30% year over year to $4.8 billion across 75 deals, even as total corporate funding for the sector declined 19% to $16.2 billion. Despite the decline in total capital raised, deal activity increased 3% during the year, indicating continued investor engagement in the sector</p>


ILJIN Electronics to Raise ₹2.96 Billion from Amber Group Through Rights Issue


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					</table><p><a href="https://www.iljin.co.in/" target="_blank" rel="noopener">ILJIN Electronics</a>, a material subsidiary of Amber Group, has entered into definitive agreements for a majority stake in Bengaluru-based <a href="https://poweroneups.com/" target="_blank" rel="noopener">Power One Micro Systems</a>.</p>
<p>Power-One offers battery energy storage systems (BESS), solar inverters (on-grid, off-grid, and hybrid), electric vehicle charging solutions, and uninterrupted power supply solutions.</p>
<p>The financial details of the transaction were not disclosed.</p>
<p>Power-One caters to multiple clients in the public and private sectors.</p>
<p>Greater Noida-based ILJIN Electronics is an integrated provider of printed circuit board (PCB) assembly and bare board PCB solutions.</p>
<p>The stake acquisition will enable ILJIN Electronics to unlock avenues of operational synergies and strategic growth opportunities. The Amber group company’s experience in electronic manufacturing services, pan-India manufacturing footprint, and R&amp;D capability will help Power-One to expand its capabilities, accelerate product innovation, and strengthen its position in the BESS, solar inverters, and solar products and services.</p>
<p>Battery energy storage is gaining traction in India, driven by the increasing integration of renewable energy into the grid. The government has <a href="https://www.mercomindia.com/government-mandates-two-hour-energy-storage-integration-in-solar-tenders" target="_blank" rel="noopener">mandated</a> renewable energy implementing agencies to incorporate a minimum two-hour co-located energy system, equivalent to 10% of the annual solar installed capacity, in all future tenders.</p>
<p>Renewable energy experts speaking at Mercom India’s Coimbatore C&amp;I Clean Energy Meet <a href="https://www.mercomindia.com/battery-energy-storage-systems-are-phasing-out-diesel-generators" target="_blank" rel="noopener">opined</a> that BESS will likely phase out power banking in the coming years.</p>
<p>Earlier this year, the Ministry of Power <a href="https://www.mercomindia.com/government-54-billion-vgf-battery-storage" target="_blank" rel="noopener">announced</a> the second tranche of viability gap funding (VGF) to support BESS development. Under this tranche, a VGF of ₹1.8 million (~$21,043)/MWh will be provided to support the development of 30 GWh of BESS capacity.</p>
<p>According to Mercom’s Annual and Q4 2024 Solar Funding and M&amp;A Report, mergers and acquisitions <a href="https://mercomindia.com/corporate-funding-in-the-solar-sector-dropped-24-yoy-in-2024" target="_blank" rel="noopener">witnessed</a> a 15% YoY decline in 2024, with 82 transactions compared to 96 in 2023. There were 82 such transactions announced in 2024, with 21 projects costing $17.3 billion. By comparison, 96 companies (27 of which were disclosed) were acquired for $12.4 billion in 2023.</p>


ILJIN Electronics Forays into BESS, Buys Majority Stake in Power-One

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