Key Takeaways
- Ostrom raised €20 million in its Series B funding, totaling over €40 million in funding to date.
- The company offers 100% certified green electricity with dynamic pricing and customer-friendly management tools.
- Funds will be used to accelerate smart meter rollouts and expand the NeoGrid™ Virtual Power Plant technology.
Ostrom Secures €20 Million Series B Funding
Ostrom, a German digital green energy provider founded in 2021, has successfully raised €20 million in its Series B funding round, raising its total funding to over €40 million. The company aims to revolutionize the energy sector by offering transparent and flexible energy solutions, including monthly cancellable contracts and fully certified green electricity.
Ostrom’s flagship products, SimplyFair and SimplyDynamic, provide consumers with cost-effective electricity options paired with hourly dynamic pricing. Users can easily manage their energy contracts and smart devices through the Ostrom App, enhancing their overall experience.
Matthias Martensen, Co-Founder and CEO, emphasized that this funding round signifies more than just financial backing—it’s about forming strategic partnerships. Eneco Ventures led the round and brings substantial industry expertise while allowing Ostrom to maintain its independence. The partnership is expected to accelerate smart meter adoption and expand Ostrom’s virtual power plant capabilities, all while focusing on medium-term profitability.
Co-Founder and CMO/CPO Karl Villanueva highlighted the combination of Eneco’s experience with Ostrom’s customer-centric approach, noting that the use of AI has dramatically improved customer service efficiency. Approximately 50% of customer requests can already be addressed through AI-driven solutions, enabling Ostrom’s small teams to remain agile and innovative.
Investment Director at Eneco Ventures, Jan van der Velde, also expressed enthusiasm about supporting Ostrom’s growth. He remarked on the company’s rapid customer adoption and its digital-first strategy, stating that Ostrom is pioneering in unlocking residential flexibility, which adds real value to consumers and supports the transition to renewable energy.
The new funding will primarily be used to subsidize the rollout of smart meters for customers, allowing for improved demand-side flexibility. Ostrom is also set to enhance its technological capabilities, further solidifying its leadership in energy automation. Additionally, the company plans to expand its NeoGrid™ Virtual Power Plant, which connects household devices and electric vehicle batteries to optimize grid balance, maximize renewable energy usage, and reduce costs for customers.
Ostrom’s mission is clear: to create Europe’s smartest and most sustainable energy platform through advanced automation, actionable data, and a firm commitment to sustainability.
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