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Berlin-based Ostrom raises €20 million to accelerate Germany’s smart energy capability
- Ostrom, a German digital green energy provider, secures €20 million in Series B funding to expand smart energy capabilities.
- The funding will be used to subsidize smart meters for customers and grow the NeoGrid Virtual Power Plant.
- Eneco Ventures led the round, with participation from existing investors, bringing the total funding to over €40 million.
- Ostrom aims to accelerate smart meter adoption and scale the virtual power plant through the funding.
- The company offers transparent electricity services with flat monthly fees or electricity-at-cost options to consumers.
- Customers can choose between SimplyFair and SimplyDynamic plans for billing flexibility and green energy consumption.
- The Ostrom App enables users to monitor and optimize their energy usage, connecting with EVs, solar, and battery storage.
- Ostrom experienced rapid growth in 2024, tripled its customer base, and launched a large electric vehicle Virtual Power Plant in Germany.
- The company plans to redefine energy retailing by offering electricity-at-cost and hourly dynamic pricing for consumers.
- Ostrom's focus on automation and AI resolves over half of customer operations automatically, ensuring scalability.
- The company will use the funding to accelerate nationwide rollout, strengthen tech capabilities, and expand the NeoGrid Virtual Power Plant.
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