Elephant Power and its holding company Innonergy secure seven-figure seed funding — led by HSG

Cleantech start-up Elephant Power, together with its holding company Innonergy, has closed a seven-figure seed funding round. The lead investor is HSG. The round was structured through the holding company Innonergy and had already been closed beforehand. With the capital, Elephant Power is accelerating product development, growing the team and deepening strategic partnerships in Germany and Europe.

About Elephant Power

Elephant Power is a cleantech start-up founded in Stuttgart in 2025. The company develops outdoor heat pump and battery systems including an energy management system (EMS) to make installation, operation and scaling in existing buildings much simpler and faster. The fully integrated platform is grid-friendly, quick to install and designed for cost-efficient integration. The pre-assembled all-in-one outdoor module combines heat pump, hot water tank, battery and EMS in one unit — plug-and-play with minimal indoor work. Installation is carried out by a small team in a short time; standardised assembly significantly reduces labour and process costs. Thanks to an optimised control concept, battery, PV integration and a tariff-responsive operating strategy with potential grid-fee effects, it is more economical to buy and to run than gas and standard heat pump solutions. The modular approach allows compact outdoor dimensions on just a few square metres — one unit, one delivery, one solution. The next milestones: in Q1 2026 Elephant Power starts its first proof-of-concept installations in the field. At the same time, the partner network is being expanded and installation capacity increased. Elephant Power is also preparing the series market launch — from production and logistics to marketing — and continues to grow the team, from engineering to sales.

About HSG

HSG (HongShan Capital Group) is a leading venture capital and private equity firm investing across technology, healthcare and consumer sectors. Since its founding in 2005, HSG has championed entrepreneurship and innovation and has backed more than 1,600 companies with transformative technologies, innovative business models and significant growth potential. To date, more than 160 HSG portfolio companies are listed on public stock exchanges, while more than 140 private portfolio companies have reached unicorn status.

Press contact

Elephant Power GmbH – Alexander Cordes, Co-Founder & CEO. [email protected], elephant-power.ai.