Elephant Power, via its holding company Innonergy, secures seven-figure seed financing – led by HSG.

Image: Danijel Sistov (Co-Founder & COO), Alexander Cordes (Co-Founder & CEO), Jack Wang (MD & Entrepreneur Innonergy / Elephant Power)

The cleantech startup Elephant Power, together with its holding company Innonergy, has closed a seven-figure seed financing round. The lead investor is HSG. The round was structured via the holding company Innonergy and was previously closed. With the capital, Elephant Power is accelerating product development, expanding the team, and deepening strategic partnerships in Germany and across Europe.

About Elephant Power
Elephant Power is a cleantech startup founded in 2025 in Stuttgart. The company develops outdoor-installable heat pumps and battery systems including an energy management system (EMS) to significantly simplify and accelerate installation, operation, and scaling in existing buildings. The fully integrated platform is grid-supportive, fast to install, and designed for cost-efficient rollouts.

The pre-assembled, all-in-one outdoor module combines the heat pump, domestic hot water tank, battery, and EMS in a single unit—plug-and-play with minimal indoor work. Installation is completed by a small team in a short time; standardized mounting significantly reduces labor and process costs. In both acquisition and operation, it is more economical than gas and standard heat pump solutions—thanks to an optimized control strategy, the battery, PV integration, and a tariff-controlled operating strategy with potential grid-fee effects. The modular approach enables a compact footprint of just a few square meters—one unit, one delivery, one solution.

Next milestones: In Q1 2026, Elephant Power will begin the first field PoC installations. In parallel, the partner network will be expanded and installation capacities systematically expanded. The team is also preparing for commercial launch—from production and logistics to marketing—and is advancing hiring in engineering and 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 nurtured entrepreneurship and innovation, backing more than 1,600 companies with transformative technologies, innovative business models, and significant growth potential. To date, more than 160 HSG portfolio companies have listed on public stock exchanges, while more than 140 private portfolio companies have achieved unicorn status.

Press contact
Elephant Power GmbH - Alexander Cordes, Co-Founder & CEO
Office@elephant.pw ·  www.elephant.pw.