Terralayr, a developer, owner, and operator of battery energy storage assets, has raised €192 million (~$223 million) in an equity round, including an €80 million (~$93 million) upsizing option.
The funding was led by Eurazeo, a French private equity firm, through its Eurazeo Transition Infrastructure Fund (ETIF), alongside its existing investors RIVE Private Investment, Creandum, Norrsken, Earlybird Venture Capital, and Picus Capital.
terralayr develops, owns, and operates grid-scale battery energy storage systems, with the support of its LAYR platform, which virtualizes battery assets, and provides a route-to-market solution for both its own and third-party assets.
The funding is expected to enable the company to further grow its grid-scale battery storage portfolio in Germany while scaling its LAYR platform.
Philipp Man, Co-Founder and CEO of terralayr, commented, “We are very happy to welcome Eurazeo to our shareholder base. Their backing is essential in allowing us to accelerate the build-out of much-needed flexibility infrastructure in Germany. This capital raise will enable us to increase the pace of our asset growth in Germany, which is critical for the scaling of our digital platform. This will make us an even stronger partner to utilities, asset owners, flexibility traders, and other users of flexible power assets.”
In 2024, the company raised €77 million (~$80 million), comprising €62 million (~$64 million) in equity and €15 million (~$16 million) in debt, with participation from Creandum, Earlybird, Norrsken VC, Picus Capital, and RIVE Private Investment.
According to Mercom’s 9M and Q3 2025 Funding and M&A for Energy Storage report, VC funding in the sector totaled $2.8 billion across 56 deals, a 4% YoY increase from $2.7 billion across 61 deals in 9M 2024.
In December, FION Energy, a Berlin-based company that installs and operates smart battery systems for industrial companies, closed a €1.4 million (~$1.6 million) pre-seed funding round. The funding round was led by HTGF and Norrsken Evolve, with participation from experienced business angels.
