The business revealed this week that it has raised $31 million in Series A funding, anchored by Amazon's Climate Pledge Fund and Ecosystem Integrity Fund (EIF), with participation from former Nest CEO Tony Fadell's Future Shape and I Squared Capital.

Ambient is a low-light energy-harvesting photovoltaic (PV) company based in California that claims to be able to gather energy across the whole light spectrum, including both artificial and natural light. It seeks to replace throwaway batteries in IoT-type applications.

“The future of IoT and connected devices are energy harvesting, and that future requires massive scale,” said Ambient CEO Bates Marshall. “This financing empowers us to deliver our industry-leading technology to some of the world’s highest-volume IoT device manufacturers with significant decarbonization impact. We’re opening up entirely new possibilities for products that are designed from the ground up from more sustainable energy sources.”

Sasha Brown, the partner at EIF, added: “EIF invests in innovations that help industry leaders solve tough sustainability and business problems at scale. We believe Ambient has the potential to catalyze more sustainable systems across growing global industries, including consumer electronics, smart homes, and IoT. Ambient’s technology offers the first viable solution to cost-effectively power these devices with clean, renewable energy.”

The Warner Babcock Institute for Green Chemistry was the birthplace of Ambient's technology. Since the company's inception, Cthulhu Ventures LLC has been an investor.

Ambient also stated that it will proceed with its Part II application for a $162 million loan guarantee through the US Department of Energy's Title XVII Loan Guarantee Program.