Berlin-based digital energy provider Ostrom has raised €20 million in a Series B funding round to accelerate the deployment of smart meters across Germany and scale its NeoGrid Virtual Power Plant. The round, led by Eneco Ventures with participation from SE Ventures, Union Square Ventures, Adjacent, Übermorgen, and J12, brings the company’s total funding to over €40 million.
Founded in 2021, Ostrom offers a fully digital green energy service with a subscription-based model, giving customers real-time control and transparency over their electricity usage. Through its SimplyFair and SimplyDynamic plans, users can choose between fixed monthly billing or dynamic hourly pricing, encouraging consumption when electricity is cheapest and most sustainable. The Ostrom app also connects to electric vehicles, solar panels, and home battery systems, enabling customers to optimize energy use and increase household independence. The new funding will support Ostrom’s AI-driven automation, with over half of customer interactions already handled automatically, and expand its virtual power plant that aggregates household devices to help balance the grid and reduce costs.
