German digital green energy provider Ostrom has raised €20m in a series B funding round, bringing its total funding to over €40m.

Founded in Berlin in 2021, Ostrom combines full transparency, monthly cancellable contracts and effortless switching with 100% certified green electricity.

The financing 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.

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 technology capabilities. Already, Ostrom’s investment in AI means more than half of customer operations are resolved automatically, empowering a lean, efficient team structure ready to scale further.

The company also plans to grow its NeoGrid VPP rapidly, connecting household devices and electric-vehicle batteries to balance the grid intelligently, increase renewable energy use and reduce customer costs.

Ostrom says it is redefining 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.

The funding round was led by Eneco Ventures, the venture capital arm of Dutch sustainable energy firm Eneco, and was joined by returning investors SE Ventures, Union Square Ventures, Adjacent, Übermorgen, J12 and 468 Capital.

“This series B funding round represents more than just capital, it’s about strategic partnership,” said Matthias Martensen, CEO of Ostrom. “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.”

Jan van der Velde, investment director at Eneco Ventures (www.eneco.nl), added: “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.”

This funding round  represents a milestone in Ostrom’s vision to build Europe’s smartest and most sustainable energy platform, leveraging automation, actionable data and deep dedication to sustainability.

“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, CMO of Ostrom.

Ostrom (www.ostrom.de) is a digital green energy provider based in Berlin, offering 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 connecting to EVs and chargers, solar and battery storage for greater household independence.