Ostrom receives 9.3 million euros

The Berlin-based green electricity provider would soon like to offer dynamic electricity tariffs. Two US venture capital companies are now investing in Ostrom.

The green energy provider Ostrom has raised 9.3 million euros in a Series A financing round. The fresh capital comes from the US venture capital companies Adjacent and Union Square Ventures. In addition, Revent partner Henrik Grosse Hokamp and investor Jonathan Teklu joined as business angels.

A total of around 14 million euros has already flowed into the start-up. Matthias Martensen and Karl Villanueva founded Ostrom in 2021. With its green electricity tariffs, Ostrom passes on the costs of electricity consumption as well as the taxes, levies and surcharges due to consumers. The company does not charge a margin, instead Ostrom charges a monthly basic fee of six euros for customer service, invoicing, procurement and supply. Ostrom aims to be more transparent than conventional electricity providers. According to the start-up, it already has customers in 1,500 German cities.

Ostrom intends to use the money from the financing round to double its team over the next two years and further expand the brand's offering. Among other things, the start-up would like to further develop its systems that enable the intelligent charging of electric cars and optimize heat pumps.