Ostrom, a Berlin-based digital green energy provider founded in 2021, has successfully raised €20 million in a Series B funding round, bringing its total funding to over €40 million.

The funding round was led by Eneco Ventures, with participation from notable investors such as SE Ventures and Union Square Ventures.

Matthias Martensen, Co-Founder and CEO of Ostrom, emphasized that this funding signifies a strategic partnership with Eneco, aimed at accelerating smart meter adoption and scaling their virtual power plant.

Ostrom plans to utilize the new capital to subsidize smart meters for customers, enhance demand-side flexibility, and strengthen its automation capabilities.

This investment will help Ostrom build Europe's smartest and most sustainable energy platform, leveraging automation and actionable data to promote sustainability.

In 2024, Ostrom experienced significant growth, tripling its customer base and launching Germany's largest electric vehicle Virtual Power Plant.

Ostrom focuses on providing 100% certified green electricity with transparent, monthly cancellable contracts and dynamic pricing through its SimplyFair and SimplyDynamic products.

The company is also leveraging AI to automate customer operations, resolving over half of requests automatically, which streamlines its operations.

The Ostrom App allows users to manage their energy consumption and connect with electric vehicles, solar panels, and battery storage.

Jan van der Velde from Eneco Ventures praised Ostrom's digital-first approach and its role in enhancing residential energy flexibility and renewable energy adoption.

Karl Villanueva, Co-Founder & CMO/CPO, noted that the partnership with Eneco would enhance Ostrom's capability to prototype and release new products rapidly.

Ostrom's NeoGrid™ Virtual Power Plant connects household devices to optimize energy use, further supporting its mission to promote renewable energy and grid stability.