Berlin-based Ostrom raises €20 million to accelerate Germany’s smart energy capability

Ostrom, a German digital green energy provider, today announced a €20 million Series B funding to accelerate its nationwide rollout through subsidising smart meters for its customers, and to grow its innovative NeoGrid Virtual Power Plant.

The round led by Eneco Ventures, the venture capital arm of Dutch sustainable energy leader Eneco. Also participating were returning investors SE Ventures, Union Square Ventures, Adjacent, Übermorgen and J12 – bringing total funding to over €40 million.

“This Series B funding round represents more than just capital. Iit’s about strategic partnership. Eneco brings deep industry expertise while Ostrom maintains full independence, strengthening our platform as we accelerate smart meter adoption and scale our virtual power plant. With a clear focus on medium-term profitability, we are driving the transformation of the energy market,” said Matthias Martensen, Co-founder and CEO of Ostrom​.

Founded in 2021, Ostrom is a digital green energy provider, reportedly offering full transparency and control over household electricity with a flat monthly fee and electricity-at-cost.

Customers can choose between SimplyFair, with predictable and flexible billing, or SimplyDynamic, which uses smart meters and hourly prices to help households consume energy when it is cheapest and greenest.

The Ostrom App lets users monitor, manage and optimise their energy, while also connecting to EVs & chargers, solar and battery storage for greater household independence.

The Series B follows Ostrom’s fast growth in 2024, highlighted by a tripling of its customer base, and the launch of the largest electric vehicle Virtual Power Plant (VPP) in Germany.

The company aims to redefine what an energy provider is with its SimplyFair and SimplyDynamic products, offering consumers electricity-at-cost and hourly dynamic pricing. Customers can seamlessly manage their contracts and smart devices via the Ostrom App.

“We are excited to support Ostrom on their growth journey. Their rapid customer adoption and digital-first approach set a new standard for energy retailers. And Ostrom is a true pioneer in unlocking residential flexibility delivering real value to consumers, accelerating the adoption of renewable energy, and strengthening grid stability.” added Jan van der Velde, Investment Director at Eneco Ventures.

Ostrom will use the fresh capital to accelerate its nationwide rollout through subsidising smart meters for its customers enabling demand-side flexibility, and to strengthen its position in automation by expanding its tech capabilities. Already, Ostrom’s investment in AI means that more than half of customer operations are resolved automatically, empowering a lean, highly efficient team structure ready to scale further.

The company also plans to rapidly grow its innovative NeoGrid Virtual Power Plant, connecting household devices and electric vehicle batteries to intelligently balance the grid, maximise renewable energy use, and reduce customer costs.

“Combining Eneco’s energy veterancy with Ostrom’s relentless product and customer focus enables us to use AI as a powerful multiplier for rapidly prototyping and releasing new products, already solving 50% of customer requests through AI, and allowing our small, highly capable teams to stay agile, innovative, and execution-driven,” said Karl Villanueva, Co-Founder & CMO/CPO of Ostrom.

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