Ostrom, the Berlin-based digital energy and smart home pioneer, is once again in the spotlight. After sealing a $10 million Series A funding in December 2022, the company has clinched an additional $8 million in a recent investment round. Taking the helm is SE Ventures, the Silicon Valley venture fund, backed by Schneider Electric. Joining the financial fervour, existing investors Union Square Ventures, Adjacent, J12, and Übermorgen have pitched in, pushing Ostrom’s Series A funding to a whopping $18 million. Consequently, the total funds now surpass $23 million.
SE Ventures & Ostrom
SE Ventures, armed with a €1B global venture capital fund and Schneider Electric’s backing, champions transformative ideas and ground-breaking entrepreneurs. They’ve fuelled the growth of trailblazing startups in climate tech, energy management, mobility, cybersecurity, and industrial automation. Companies like Augury, Claroty, AiDash, Aquant, and AutoGrid, among others, have thrived under their support.
Ostrom, a B Corp Certified™ green energy provider established in 2021, is on a mission. Operating from Berlin, Ostrom empowers consumers with a smart energy management platform. They offer a suite of products, from the SimplyFair variable electricity tariff to dynamic pricing with smart meter support, Smart EV Charging, and even the Ostrom Store packed with smart home gadgets.
SE Ventures and Ostrom: a partnership in progress
Julien Cristiani, General Partner at SE Ventures, expressed his enthusiasm, “As we broaden our European portfolio, investing in Ostrom, Germany’s foremost green energy provider, thrills us. Their transparent, data-driven tariff contracts promise German households greener, more affordable electricity.”
Echoing this sentiment, Matthias Martensen, Ostrom’s Co-Founder & CEO, articulated, “Our collaboration with SE Ventures transcends capital. This alliance epitomises our shared expertise and vision, fuelling our ambition to transform the energy landscape in Germany and Europe.”
Leading the charge in innovation
2023 has been monumental for Ostrom. The company launched several breakthroughs such as the SimplyDynamic tariff, cost-efficient Smart EV Charging, HVAC integrations for heat pumps, and an expanding Ostrom Store. Harnessing data, Ostrom shifts energy consumption to the most cost-effective, greenest hours, saving customers up to 35% against conventional electricity contracts.
Karl Villanueva, Co-Founder & CMO/CPO of Ostrom, sheds light on their rapid progress:
We’ve rolled out more new features in six months than most utilities in 5-10 years. At Ostrom, we empower customers to conserve energy and money by offering insights and control over their usage.
The future seems bright for Ostrom, with a shared vision with SE Ventures propelling them forward. This partnership promises consumers efficient, sustainable solutions in the energy realm.
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