SpotmyEnergy funding news – Cologne-based SpotmyEnergy has Raised €10.5 Million in Seed Funding

The funding round was led by Norrsken VC, with new investment from Vorwerk Ventures and continued support from Picus Capital.

Investment Utilisation

The money will help SpotmyEnergy expand its smart metering and energy management technology, allowing households to save on energy costs and support Germany’s energy transition.

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SpotmyEnergy aims to fill a major gap in Germany’s energy market, where fewer than 2% of the 53 million electricity customers have a smart meter. The company offers a complete system that includes a smart meter, energy management software, and a time-of-use electricity tariff.

By connecting private homes to the energy market, SpotmyEnergy helps optimize energy use in home storage systems, electric vehicles, heat pumps, and solar panels, turning regular homes into active contributors to the energy grid.

Jochen Schwill, founder and CEO of SpotmyEnergy said, “Over the past year, we successfully launched our product in the market and have seen significant demand for our solutions,” “To meet this demand more quickly and unlock the much-needed potential of connected flexibility behind millions of meters, we decided to raise fresh capital. We are thrilled to have found three investors – Norrsken, Vorwerk Ventures, and Picus Capital – who share our vision of a transparent, affordable, and sustainable energy supply for private households and who also bring cleantech expertise to the table.”

SpotmyEnergy was founded in 2023 by cleantech entrepreneur Jochen Schwill. The company makes energy flows more transparent while managing metering, system optimization, and trading. In the past two years, SpotmyEnergy has built a network of over 50 electrical installation partners and continues to add new ones to meet growing demand.

The new funding will help the company grow its team, expand sales, and improve its platform to work with more devices, including home battery storage systems.

Fabian Erici, Principal at Norrsken VC, a leading early-stage fund focused on impact, emphasised the importance of SpotmyEnergy’s mission: “Households are key to a green energy future—both as producers of green power and managers of flexible energy assets. Yet, their potential remains untapped, and installers lack the tools to unlock it. That’s why we’re thrilled to back the experienced Spot My Energy team empowering households with an all-in-one solution that cuts energy bills while driving the green energy revolution forward.”

Dr. Dominik Steinkühler, Partner at Vorwerk Ventures. “Jochen Schwill and his team have a deep understanding of the challenges and opportunities in the energy sector. With their vision of involving households in the energy transition through smart metering systems and dynamic energy management, they are creating a forward-thinking solution. They are exceptionally well-positioned to make a significant contribution to a sustainable and stable energy system. We are impressed by the team’s innovation and commitment and look forward to supporting them on this journey.”

Existing investor Picus Capital also reinforced its commitment to SpotmyEnergy. “We are thrilled by the progress SpotmyEnergy has made and see this investment as further confirmation of the path Jochen and his team have taken,” said Oliver Heinrich, Partner at Picus Capital.

About SpotmyEnergy

SpotmyEnergy operates as a metering point operator and electricity trader, creating a network of flexible power users and solar power producers. They design and install smart meters and systems that help customers optimize energy use, production, and trading making it easy and profitable for them to manage their energy.