Berlin-based Ostrom Secures €20 Million Funding In Series B Round

The funding will be used to subsidise smart meters for customers and scale its NeoGrid Virtual Power Plant.

The round was led by Eneco Ventures, the VC arm of Dutch energy leader Eneco, with participation from returning investors SE Ventures, Union Square Ventures, Adjacent, Übermorgen, and J12. This brings Ostrom’s 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​.

The Ostrom App allows users to track and manage their energy consumption, while also integrating with EVs, chargers, solar panels, and battery storage to boost energy independence at home.

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The company experienced strong growth in 2024, tripling its customer base and launching Germany’s largest electric vehicle Virtual Power Plant (VPP). With its innovative plans and smart tools Ostrom is working to redefine the role of an energy provider in the green energy transition.

“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 new funding to speed up its nationwide expansion by subsidising smart meters for customers, helping enable demand-side flexibility. It also plans to boost its automation capabilities by growing its tech team. Thanks to its existing AI investment, over half of customer operations are already handled automatically, allowing the company to run with a lean and efficient team that’s ready to scale.

In addition, Ostrom will focus on expanding its NeoGrid Virtual Power Plant, which connects home devices and EV batteries to intelligently balance the power grid, increase the use of renewable energy, and lower costs for customers.

“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.

About Ostrom

Founded in 2021, Ostrom is a German digital green energy provider offering households full transparency and control over their electricity usage. With a flat monthly fee and electricity provided at cost, customers can choose between two plans: SimplyFair, for predictable and flexible billing, and SimplyDynamic, which uses smart meters and hourly pricing to encourage energy use when it’s most affordable and eco-friendly.