SE Ventures leads 8 million dollar 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 supported as a 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 re-invested. This brings the total investment in Ostrom to over 23 million dollars. The company previously closed a Series A funding round totaling $10 million in December 2022.

As SE Ventures expands its portfolio in Europe, we are excited to invest in Ostrom, the new leading green energy provider in Germany. We are impressed by 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 in its further development, particularly in the electrification of homes and broader decarbonization. The company has experience in software solutions for the energy transition and can assist Ostrom in future collaborations with Schneider Electric.

The additional funding will enable Ostrom to expand its product offering, particularly in the area of home storage and solar technologies. This will lay the foundation for the development of virtual power plants (VPPs), which will use controllable consumption units to balance the electricity 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 combined expertise and vision

Matthias Martensen, Co-Founder & CEO of Ostrom

Ostrom was founded in 2021 and focuses on smart energy management solutions. Their product offering includes variable electricity tariffs such as SimplyFair and dynamic tariffs such as SimplyDynamic, which are 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 ten 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 bright 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 sector.