Amber Electric Secures $3.2 Million in Funding to Revolutionize Power Prices for Consumers

Amber Electric, the trailblazing energy startup founded in 2017 by Chris Thompson and Dan Adams, has successfully raised $3.2 million in its latest funding round. This impressive capital infusion highlights the growing interest and confidence in Amber's innovative approach to transforming the energy market. With a commitment to empowering users, Amber leverages dynamic power pricing that fluctuates according to the real wholesale value of energy, enabling customers to cut costs by charging their batteries during periods of greener, cheaper energy. This means users can maximize their savings when energy demand is low and even benefit from exporting back to the grid when prices surge. The newly raised funds will be strategically invested in enhancing Amber's smart technology, expanding their market presence, and continuing to educate consumers on how to harness the full potential of solar and battery solutions. By empowering battery owners to take control of their energy consumption, Amber is reshaping the landscape of residential energy usage in Australia. Backed by prominent investors such as Blackbird, Square Peg, and the Commonwealth Bank, as well as esteemed accelerators like EnergyLab and Startmate, Amber has garnered recognition in the startup ecosystem, winning Startup Vic’s Impact Pitch Night and being named Victorian Start-up of the Year. This new funding round solidifies Amber Electric's mission to put power back in the hands of consumers and contribute to a more sustainable and efficient energy landscape.