Main Sequence Ventures-backed Amber has closed a $15.5m series B round led by Commonwealth Bank.
Amber, an Australia-based electricity retailer backed by Main Sequence Ventures, has completed a A$20m ($15.5m) series B round led by Commonwealth Bank.
The financial services firm has also entered into a strategic partnership with the company to offer its energy products to Commonwealth Bank’s clients.
Amber sells electricity to users at wholesale prices. Consumers pay a fixed monthly subscription fee to access the service, with Amber taking no cut from the electricity costs.
Main Sequence Ventures, the venture capital firm founded by CSIRO, previously backed an $7.7m series A round together with Square Peg, Giant Leap and angel investors in September 2020.
Square Peg led a $1.9m seed round in September 2019, with contributions from Giant Leap, Black Sheep Capital and angel investors.