Gentrack invests in Amber, plans global smart device collaboration

New Zealand-based software company, Gentrack, has invested AUD 12 million in Australian technology firm, Amber, as part of a AUD 29m series C funding round.

The investment includes an agreement for Gentrack and Amber to collaborate on the development and global sale of an end-to-end solution for household batteries, electric vehicle chargers, and other smart devices.

This partnership aims to position the two companies to compete in the growing international utility market for smart device optimisation products.

The series C funding round was also joined by Breakthrough Victoria and Rubio Impact Ventures, in addition to existing Amber shareholders Commonwealth Bank, Square Peg, and Main Sequence.