Amber, an Australian energy retailer whose software automates home batteries and electric vehicles, said on 21 September 2026 that it had closed a A$78.5m (about $55.9m) Series E round.
The round was led by 1GT, the climate fund of Morgan Stanley Investment Management, and was nearly twice oversubscribed, the company said. Existing investors Environmental Technologies Fund (ETF Partners), Innovation Victoria and German utility E.ON also took part.
Amber did not disclose a valuation. Law firm Freeths, which advised Amber, said the deal was carried out alongside a re-domiciliation of the group to the UK.
“This additional capital positions Amber to double down on our expansion across Europe.”Chris Thompson, Co-founder and Co-CEO, Amber
What Amber does
Amber passes real-time wholesale electricity prices through to its customers and gives them software that controls their home batteries and EVs. The system charges the devices when cheap renewable power is available and sells energy back when prices spike, so households can earn money from their equipment.
The company said it has become the largest residential battery automation product in Australia, orchestrating more than half of the country's automated home batteries. It is now releasing vehicle-to-grid features that let early customers sell power from their EVs back to the grid.
Amber was founded in Melbourne in 2017, according to Gibson Dunn and Startup Daily. Its co-founders, Chris Thompson and Dan Adams, run the company as co-chief executives. Amber did not disclose its headcount or customer numbers.
The push into Europe
Most of the new money is aimed at growth outside Australia. Amber's technology already underpins Next Optimise, a smart tariff and battery and EV automation product from E.ON Next that launched in the UK in March 2026 for households with batteries and solar panels.
The company said the funding would let it scale in Australia, expand across European markets and keep investing in products and infrastructure. Thompson said the partnership with E.ON showed what was possible and that Amber wanted to add more partners in the region. Vikram Raju, head of climate private equity investing at Morgan Stanley Investment Management and 1GT, said the firm saw a growing need for distributed energy tools in global markets.
Amber said the opportunity to unlock value for both households and utilities was attracting major partners in Australia and Europe as the industry moves towards a more flexible electricity system.
The funding so far
Amber has raised several rounds before this one. According to Startup Daily, its last major raise was a $45m Series D in June 2025, which followed a $29m Series C in early 2024 and a $33.4m Series B across 2021 and 2022. Startup Daily did not state the currency of those figures, so they are not converted here.
Startup Daily also listed CBA, Square Peg, Main Sequence and the NRMA among Amber's other shareholders, and reported that Amber received $13.6m from the Australian Renewable Energy Agency in June to expand a vehicle-to-grid programme to 1,000 homes. That grant is separate from the equity round.
Company website: amber.com.au