Amber, an energy company that automates home batteries and electric vehicles (EVs), has closed a A$78.5 million (~$56 million) Series E funding round.

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.

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.

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.

“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.”

According to Mercom’s 1H and Q2 2026 Smart Grid Funding and M&A report, 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.

Amber’s technology also supports Next Optimize, a smart energy tariff and home battery and EV automation product offered by E.ON Next.

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.

In August, Emerald AI, a developer of software for managing data center electricity consumption and computing workloads, raised $150 million in an oversubscribed Series A funding round at a $1.05 billion valuation, led by Energize Capital and DCVC.