CEO Sean Luangrath Returns to Roots in Silicon Valley for Presentation, which Also Opens Inergy’s Series A Round of Funding
Pocatello, Idaho, April 11, 2022 – Inergy(www.inergytek.com), provider of the world’s most adaptable and easy-to-use renewable energy storage solutions, has been named as one of the select companies to present at the StartUp Grind Global Conference in Silicon Valley this week. StartUp Grind is the world’s largest community of startups, founders, innovators, and creators with more than 600 chapters and 5 million community members worldwide. In addition to being selected to present in person, Inergy will also exhibit as part of the exclusive Scaleup Exhibition.
“Inergy has made global traction and momentum as a start-up and is a great representation of what StartUp Grind is all about,” said Sean Luangrath, CEO of Inergy. “I am thrilled that Inergy is turning heads in the Silicon Valley Community where my professional roots are, and that this is where we’ll open our next round of funding.”
This presentation opens Inergy’s Series A round of funding for $10 million. Inergy’s seed round raised nearly $3 million from both new and returning investors. Over the last two years, the company faced lengthy delays and supply chain disruptions, which required multiple rounds of re-engineering. In spite of these challenges, Inergy has consistently shown the ability to increase revenue and grow its intellectual property portfolio, which has prompted an increased valuation of the company for this round of funding.
Inergy creates innovative technologies to produce easy-to-use plug-and-play portable solar power and home energy solutions in two very hot markets: portable power stations and energy storage systems. MarketsandMarkets reports that the global portable power station market size is expected to grow from an estimated USD 330 million in 2020 to USD 474 million by 2025; MarketWatch News reports that global Energy Storage Systems (ESS) market share had reached a valuation of USD 4500.8 million in 2019 and is anticipated to be valued at USD 12050 million in 2025, representing a year-over-year growth rate of 27.9% over 2020-2025.
Inergy’s presentation at StartUp Grind will be its first of four very prestigious presentations during the month of April to kick off its Series A funding.
“We are honored to be selected by a community whose focus is to build, grow, and scale their companies,” said Luangrath. “Inergy’s global mission is to provide clean energy worldwide,especially in developing markets. This fits hand-in-hand with StartUp Grind’s goal to be global citizens and positively impact the livelihood of people worldwide.”
Inergy has had tremendous support from investors since its first days of successful crowdfunding. Inergy has received grants from the state of Idaho, the U.S. Armed Forces, and the U.S. Department of Energy. Previous investors include SLC Angels and independent investors.
Inergy manufactures and distributes products that help individuals worldwide improve their quality of life with adaptable, clean, renewable power. The company’s line of products provides its customers with power anywhere, any time; so they can enjoy the good times, prepare for hard times, and rise above any obstacle life may throw at them. Inergy is leading the renewable power revolution with a bottom-up approach by making modular, plug-and-play solar power and home energy solutions available to individual consumers, families, and businesses.
Stephen Whyte, Strategic Connections, LLC