Ostrom, a German digital green energy provider offering electricity-at-cost plans and smart meter integration, announced a €20 million Series B funding round. The company provides household electricity plans with options for predictable flat fees or dynamic hourly pricing based on energy costs and green energy availability.
The round was led by Eneco Ventures, the venture capital arm of Eneco, a Dutch sustainable energy company. Participating investors included SE Ventures, Union Square Ventures, Adjacent, Übermorgen, and J12. This brings Ostrom's total funding to over €40 million.
Customers manage their energy usage and connected devices through a dedicated app. Ostrom also operates NeoGrid, a virtual power plant connecting household devices and electric vehicle batteries to optimize grid balance and renewable energy usage. The company utilizes AI to automate over half of its customer service operations.
The funding will be used to accelerate the nationwide rollout of smart meters, subsidized for customers, and to expand the NeoGrid Virtual Power Plant. Ostrom's growth in 2024 included a tripling of its customer base and the launch of Germany's largest electric vehicle Virtual Power Plant.
"This Series B funding round represents more than just capital. It’s about strategic partnership," commented Matthias Martensen, Co-founder and CEO of Ostrom.
The global smart energy market is projected to reach significant growth in the coming years. Ostrom's focus on smart meter adoption and virtual power plants aligns with broader industry trends toward decentralized energy management and increased renewable energy integration. The company's strategy centers on providing consumers with greater control and transparency over their energy usage, while simultaneously contributing to grid stability and the adoption of renewable energy sources.
Ostrom was founded in 2021.
