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- Amber Electric
Amber Electric Valuation, Funding & Investors
Amber Electric is valued at $71M as of February 2024.
Last Amber Electric valuation
$71M
Series C · Feb 2024
Last Amber Electric funding round
$56M
Series E · Sep 2026
Cumulative funding Amber Electric raised
$145M
across 7 funding rounds
Key investors in Amber Electric
Square Peg Capital
ETF Partners
Rubio Impact Ventures
Breakthrough Victoria
CommBank
Gentrack Group
About Amber Electric
Amber Electric is an Australian energy retailer that passes real-time wholesale electricity prices to customers, encouraging usage during peak renewable generation periods. Melbourne-based, it integrates smart meters and mobile apps to optimize household consumption, lower bills, and accelerate renewable energy adoption on the National Electricity Market.
Founded
2017
HQ
Website
Status
Privately held
Customer focus
B2C & B2B
Revenue model
Usage-based
Valuation
$71M (Feb 2024)
Sectors
Amber Electric Valuation
Amber Electric is currently valued at $71M, based on its Series C in February 2024.
The $19M round was led by Gentrack Group, with participation from Alberts Impact Ventures, Main Sequence Ventures, NRMA, Square Peg Capital, Breakthrough Victoria and 3 other investors.
Amber Electric valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Feb 2024 | Series C | $71M |
Amber Electric Funding History
Amber Electric has raised a total of $145M across 7 funding rounds.
Amber Electric's first fundraising round was a $3M seed round in September 2019. The most recent completed round was a $56M Series E in September 2026.
Amber Electric funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2026 | Series E | Morgan Stanley Investment Management (lead); ETF Partners; E.ON Next; Innovation Victoria | $56M | - | Morgan Stanley Investment Management’s 1GT private climate equity strategy led Amber Electric’s Series E financing round in September 2026, with participation from E.ON, ETF Partners, and Innovation Victoria. The round was announced as €49 million, equal to about $56.22 million, and was described as financing for Amber’s continued growth and expansion in Europe. The transaction follows Amber’s recent partnership with E.ON and extends the company’s prior institutional backing from climate and energy investors. Amber Electric is an energy flexibility platform that helps households optimize how they store and use energy at home, including distributed energy resources and renewable power use. The company said the new capital would support product development, hiring, and market entry costs as it expands further into European markets beyond the UK, building on its established Australian business and prior international expansion efforts. |
| Sep 2025 | Series A | E.ON Next; Virescent Ventures | $7M | - | Amber Electric is an Australian energy technology company founded in 2017 that provides residential solar and battery automation, connecting home batteries, EV chargers, and smart devices to real-time energy prices to optimize charging and discharging for cost savings and grid support. It holds more than 40% of Australia's solar and battery automation market and benefits from the Federal Government’s Cheaper Home Battery Program driving battery installations. The company licenses its platform to utilities internationally to enable households to access wholesale energy pricing and turn distributed assets into grid-supporting resources. On 1 October 2025, Amber Electric raised $10 million AUD in funding, split equally between E.ON Next UK (£2.5 million / $5 million AUD) and Virescent Ventures ($5 million AUD). This follows a prior $45 million round led by ETF Partners earlier in 2025. The new capital supports global expansion, including licensing to overseas utilities and scaling automation technology. E.ON Next is trialing Amber's platform in the UK with Next Solar Max, a pilot for up to 1,000 households combining dynamic tariffs and home energy management. The investment validates Amber's model for household participation in energy markets, reducing costs and enhancing system flexibility toward decarbonization and net zero goals. Leaders from Amber, E.ON, and Virescent highlighted the technology's resonance in Australia and Europe for accelerating rooftop solar, batteries, and smarter energy systems. |
| Jun 2025 | Undisclosed stage | ETF Partners (lead); Square Peg Capital; Breakthrough Victoria; Gentrack Group; Rubio Impact Ventures | $31M | - | Amber Electric is a smart energy technology company based in Melbourne, Australia, that develops and licenses advanced battery automation software to utilities. Its platform enables households to optimize home batteries and electric vehicles by automating charging during periods of cheap renewable energy and discharging or selling energy back to the grid when prices are high, giving customers access to real-time wholesale electricity prices. Already a market leader in Australia, Amber controls over 40% of the automated residential battery market on the grid and operates the largest virtual power plant in the country, supporting more than 40,000 customers. In June 2025, Amber closed a $45 million Series D funding round (equivalent to €26 million) led by UK/Europe-based impact investor ETF Partners, with participation from existing investors Square Peg, Gentrack, Rubio Impact Ventures, and Breakthrough Victoria. The capital is intended to accelerate global expansion, particularly into European markets, ahead of Australia's Cheaper Home Batteries Program rebate starting July 1, 2025. Co-founder Christopher Thompson relocated to Europe to support key partnerships with major UK utilities E.ON and Ecotricity, and the company has partnered with Gentrack for bundled billing, CRM, and automation solutions for utilities worldwide. Amber is developing vehicle-to-grid (V2G) capabilities for residential EVs and positions itself as a customer-first solution in the energy transition. Its subscription costs $22 monthly or $384 annually, with claimed user value exceeding $1000 per year. The technology, proven at scale in Australia's advanced two-way energy grid where rooftop solar surpasses coal generation, aims to replicate success globally as utilities compete for battery and EV customers. No financial metrics such as post-money valuation, revenue, ARR, EBITDA, or valuation multiples were disclosed in announcements for this round. |
| Feb 2024 | Series C | Gentrack Group (lead); Alberts Impact Ventures; Main Sequence Ventures; NRMA; Square Peg Capital; Breakthrough Victoria; Rubio Impact Ventures; Startmate; CommBank | $19M | $71M | Amber Electric is an Australian energy retailer and technology company providing customers access to real-time wholesale energy prices and automation software for home batteries and electric vehicles (EVs) to optimize energy use, reduce bills, and support the renewable transition. It operates Australia's largest residential virtual power plant and has grown rapidly, doubling to 30,000 customers in six months prior to the Series C round and later reaching over 40,000. The company focuses on battery optimization, unlocking additional annual value like ~$1000 for households, and is developing EV-to-grid (V2G) technology. In February 2024, Amber closed an oversubscribed Series C funding round raising AUD 29 million, led by Gentrack Group with AUD 12 million for a 10% stake, alongside new investor Rubio Impact Ventures and returning investors including Commonwealth Bank (CommBank), NRMA, Alberts Impact Ventures (Alberts Impact Capital), Square Peg Capital, Main Sequence Ventures (CSIRO's financial arm), and Startmate. The funds aim to scale operations in Australia, launch EV-to-grid automation, and expand internationally via white-label licensing through Gentrack's global utility network. Gentrack's strategic investment fosters a partnership bundling Amber's automation tech with Gentrack's billing and customer care systems for international utilities. Subsequent developments include a Series D raise of AUD 45 million in 2025 led by ETF Partners, with participation from Gentrack (additional AUD 4.5 million), Square Peg, Rubio, and Breakthrough Victoria, to advance V2G and European expansion. |
| May 2021 | Series B | CommBank (lead) | $20M | - | Amber Electric is an innovative Australian electricity retailer providing customers direct access to real-time wholesale electricity prices, enabling them to adjust consumption in response to price spikes and renewable energy availability on the grid. This allows potential savings on costs and emissions through smart automation of home batteries and electric vehicles. In May 2021, Amber completed a $20 million Series B funding round led by Commonwealth Bank (CommBank), which also established a strategic partnership to offer Amber's energy products to CommBank's customer base and provide low-cost financing for residential batteries and EV chargers. The investment supported Amber's expansion ambitions, targeting over 100,000 customers by 2022 and ultimately one million households to shift demand and accelerate Australia's transition to 100% renewables, potentially replacing coal-fired power stations with wind and solar. CommBank integrated Amber's offerings into its app for energy and finance management, with discounts for its customers. Later developments include a 2024 Series C raise of $29 million led by Gentrack, with participation from existing investors including CommBank, which reportedly acquired a 23% stake in the 2021 round, alongside NRMA, Alberts, Square Peg, and Main Sequence; customer base reached 30,000 after doubling in six months. Subsequent funding in 2025 totaled AUD 45 million led by ETF Partners with Gentrack and others for global expansion of battery and EV automation technology. |
| Sep 2020 | Series A | Kilara Capital; Shearwater Capital | $10M | - | - |
| Sep 2019 | Seed | Square Peg Capital (lead); Eytan Lenko; Simon Sheikh; Geraldine Chin Moody; Giant Leap Fund; Anna Rose; Black Sheep Capital; James Moody | $3M | - | Amber Electric is an Australian electricity retailer founded in December 2017 by Chris Thompson and Dan Adams, offering households direct access to 30-minute wholesale electricity prices for a flat $10/month fee to reduce costs and promote renewable energy transition. The company piloted in Sydney in August 2018, expanded to South Australia in November 2018, announced its first battery optimization trial in August 2019, and fully launched across NSW, SA, VIC, ACT, and SE QLD in November 2019. In September 2019, Amber secured a $2.5m seed round investment led by Square Peg Capital, with participation from investors including Anna Rose, Black Sheep Capital, Eytan Lenko, Geraldine Chin Moody, Giant Leap Fund, James Moody, and Simon Sheikh. Square Peg partnered with Amber in 2019 for this seed investment, supporting its mission to align customer interests with lower electricity costs through technology. |
Who has invested in Amber Electric?
23 investors have backed Amber Electric across its funding rounds, including Square Peg Capital, ETF Partners, Rubio Impact Ventures, Breakthrough Victoria, CommBank and Gentrack Group.
Lead investors include Morgan Stanley Investment Management, ETF Partners, Gentrack Group, CommBank and Square Peg Capital.
Amber Electric Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Sep 2019 | ||
| 2 | Lead | Jun 2025 | ||
| 2 | Participant | Sep 2025 | ||
| 2 | Participant | Feb 2024 | ||
| 2 | Lead | Feb 2024 | ||
| 2 | Participant | Feb 2024 | ||
| 2 | Lead | May 2021 | ||
| 1 | Participant | Sep 2019 | ||
| 1 | Participant | Sep 2019 | ||
| 1 | Participant | Feb 2024 | ||
| 1 | Participant | Sep 2019 | ||
| 1 | Participant | Feb 2024 | ||
| 1 | Lead | Sep 2026 | ||
This data is available for Pro users. Sign up to see all 23 Amber Electric investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Amber Electric
Amber Electric has acquired 1 company to date.
Last acquisition by Amber Electric was on January 28th 2025. Amber Electric acquired Charge HQ for undisclosed valuation.
Latest Acquisitions by Amber Electric
| Description | Charge HQ is a cloud platform that optimizes residential electric vehicle charging by integrating with solar inverters from brands like Fronius and SolarEdge, wall chargers such as Tesla Wall Connector and Zappi, and vehicle APIs from Tesla and Polestar. Available in Australia and parts of Europe, it directs excess rooftop solar power to EVs, applies dynamic schedules tied to time-of-use tariffs from providers like AGL and Origin Energy, and adjusts for grid signals on renewables availability. The service supports over 150 charger models and operates from Melbourne since its 2020 launch. |
| HQ Country | |
| HQ City | Sydney |
| Deal Date | 28 Jan 2025 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Amber Electric acquisitions and their M&A valuation multiples. Start Free Trial | |
Amber Electric Competitors
Amber Electric competitors include listed companies like Renova Energia, Iniziative Bresciane, Columbus Energy and Kauno Energija, and private ones like EkWateur and Simply Blue Group.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $77M | - | ||
| Publicly listed | $101M | $20M | $59M | - | ||
| Publicly listed | $23M | $16M | $54M | 5.9x | ||
| Publicly listed | $77M | ($13M) | $51M | - | ||
| Publicly listed | $115M | $34M | $102M | - | ||
| Private | - | - | $72M | - |
Amber Electric Public Comps
Amber Electric is still privately-owned, but its public comps include Ecosuntek, Ekopak, Tigo Energy, Gold Hydrogen, Say Yenilenebilir Enerji, Naturel Enerji, Distribuzione Elettrica Adriatica, Sociedad Eléctrica de Sur Oeste, Azure Power Global and Midsummer.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.4B | $21M | 0.0x | 0.0x | 3.2x | 2.3x | |||
| $59M | ($6M) | 2.7x | 2.2x | (26.4x) | 23.3x | |||
| $104M | $10M | 0.6x | 0.6x | 5.7x | 27.7x | |||
| - | - | - | - | - | - | |||
| $41M | $6M | 1.7x | - | 11.7x | - | |||
| $33M | ($9M) | 12.4x | - | (44.0x) | - | |||
| $45M | $19M | 1.7x | 1.7x | 4.1x | 4.0x | |||
| - | - | - | - | - | - | |||
This data is available for Pro users. Sign up to see all Amber Electric competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Amber Electric
| When was Amber Electric founded? | Amber Electric was founded in 2017. |
| Where is Amber Electric headquartered? | Amber Electric is headquartered in Melbourne, Australia. |
| Is Amber Electric publicly listed? | No, Amber Electric is a private, VC-backed company. |
| What is Amber Electric's valuation? | Amber Electric was last valued at $71M in its Series C in February 2024. |
| How much funding has Amber Electric raised? | Amber Electric has raised $145M across 7 funding rounds. |
| What was Amber Electric's last funding round? | Amber Electric's last funding round was a $56M Series E in September 2026, led by Morgan Stanley Investment Management. |
| Who are Amber Electric's investors? | Amber Electric's investors include Square Peg Capital, ETF Partners, E.ON Next, Breakthrough Victoria, Gentrack Group, Rubio Impact Ventures, CommBank, Eytan Lenko, Simon Sheikh, Alberts Impact Ventures and 13 others. |
| Which companies are comparable to Amber Electric? | Companies comparable to Amber Electric include EkWateur, Renova Energia, Iniziative Bresciane, Columbus Energy, Kauno Energija and Simply Blue Group. |
| How many companies has Amber Electric acquired? | Amber Electric has acquired 1 company, including Charge HQ. |
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