Amber Electric raises $78.5M Series E, targeting Europe expansion
Melbourne energy tech company Amber Electric closed a $78.5M Series E led by Morgan Stanley's 1GT climate fund, with backing from ETF Partners, Innovation Victoria, and E.ON. The round takes total disclosed funding past $209M since the 2017 launch, though exact lifetime totals vary by source.
Amber operates as a software-enabled energy retailer, automating household battery storage and EV charging against real-time wholesale electricity prices. The pitch: customers buy cheap renewable power when the grid is flooded with solar, then sell excess back at premium rates during peak demand.
The numbers: 40,000 customers, over 50% share of automated batteries in Australia, making it the country's largest battery automation provider. Estimated revenue sits at $37.9M on a team of around 164, which puts them squarely in scale-up territory.
What this means for sales
Amber is pushing into Europe, but there is no publicly visible CRO or VP Sales leading the charge. The company is still anchored by co-founders Dan Adams and Chris Thompson as co-CEOs. That structure works at 164 people, but European expansion without a dedicated sales leader is worth watching.
The competitive landscape is crowded: energy retailers, battery orchestration platforms, and EV charging software all competing for household automation. Amber's edge is vertical integration, combining retail energy supply with automation software. That makes the sales motion more complex than pure SaaS, but also harder to displace once a customer is onboarded.
For context, this Series E comes after a Series C in 2024 and a late-stage round in 2025. That is aggressive fundraising cadence for a company at this revenue scale. The European push will likely mean hiring account executives and business development teams on the ground, particularly in markets where E.ON already has retail presence.
One thing missing from the announcement: hiring plans. No mention of headcount targets, sales team expansion, or go-to-market roles. For a company raising $78.5M to expand internationally, that silence is notable. If they are hiring, they are keeping it quiet.