SE Ventures leads $8 million investment round in Ostrom

Ostrom raised $8 million in investment round under SE Ventures. Total investment now over $23 million. Expansion into home storage & solar technology planned. SE Ventures backed as fund of Schneider Electric.

Berlin - Berlin-based start-up Ostrom, a provider of digital energy and smart home solutions, has successfully closed an $8 million investment round. The round was led by SE Ventures, a Silicon Valley venture capital fund backed by Schneider Electric. Existing investors such as Union Square Ventures, Adjacent, J12 and Übermorgen also participated again. This brings total investment in Ostrom to more than $23 million. Previously, the company closed a $10 million Series A funding round in December 2022.

As it expands its portfolio in Europe, SE Ventures is very pleased to invest in Ostrom, the new leading green energy provider in Germany. We are impressed with the execution-oriented mindset and data-driven expertise of the management team.

Julien Cristiani, General Partner at SE Ventures

SE Ventures, an investor in the energy sector, will support Ostrom as it moves forward, particularly in residential electrification and broader decarbonization. The company has expertise in energy transition software solutions and can assist Ostrom in future collaborations with Schneider Electric.

The additional financing will allow Ostrom to expand its product offerings, particularly in home storage and solar technologies. This is expected to lay the foundation for the development of virtual power plants (VPPs) that will use controllable consumption units to balance the power grid in the future.

However, our new partnership with SE Ventures is much more than just capital. With so many potential synergies, this represents a merging of our collective expertise and vision

Matthias Martensen, Co-Founder & CEO of Ostrom

Founded in 2021, Ostrom focuses on smart energy management solutions. Their product offering includes variable electricity tariffs such as SimplyFair and dynamic tariffs such as SimplyDynamic, based on smart meter technology. In addition, they offer Smart EV Charging, HVAC optimization, solar PV integrations and the Ostrom Store for smart home devices.

In the past six months, we have introduced more new features than most utilities do in five to 10 years.

Karl Villanueva, Co-Founder & CMO/CPO of Ostrom

SE Ventures is a global venture capital fund backed by Schneider Electric that invests in companies in climate technology, energy management, mobility, cybersecurity and industrial automation. In addition to providing financial support, SE Ventures also acts as a commercial accelerator for its portfolio companies.

The partnership between Ostrom and SE Ventures promises a promising future for the development of digital energy and smart home solutions, without exaggeration or excessive euphoria. It demonstrates the growing interest in sustainable technologies in the energy industry.