Germany-based Ostrom, a digital green energy platform that provides renewable energy at a fair price, raised Euro 4.4 million on 10th January 2022.
Investors: The investment round was led by 468 Capital along with J12 Ventures, Global Founders Capital and Übermorgen Ventures, and several angel investors. Additionally, angel investors include Philip Klöckner, Eric Quidenus-Wahlforss, Jörg Kattner, Maximilian Backhaus, Julian Weselek, and Diana Zur Löwen.
Purpose of funding: The startup will scale up its operations and increase accessibility and affordability using the funding.
About Ostrom
Founded in 2020 by Karl Villanueva and Matthias Martensen, Ostrom is located in Berlin, Germany. Ostrom is a digital green energy platform that provides renewable energy at a fair price. The startup has already exceeded a seven-digit ARR run rate, growing on average 100%+ month over month, with almost no churn. The startup is available in more than 400 cities and towns all over Germany, placing Ostrom among the top 25% of energy providers. The startup aims to make the country switch to green energy as easy and affordable as possible.
What the founders have to say
“Closing our seed round in the middle of an energy crisis – where unscrupulous discounters and sluggish traditional suppliers are going bankrupt left and right – really shows the contrarian thinking and trust our investors have in the future of energy and Ostrom as a major player going forward include. We have built Ostrom to be very lean and automation-first from the start to give us the lowest cost-to-serve in the market,” said Matthias Martensen, co-founder and CEO at Ostrom.
“The energy incumbents never had to work for their customers. Meanwhile, our tech and marketing stack at Ostrom would make any B2C startup jealous. Moreover, instead of the prevailing discount-led or green-shaming negative messaging, we want to make energy approachable, intuitive, and even exciting. For example, we just released our new app with carbon tracking and improved referrals – already our second release in just seven months,” said Karl Villanueva, co-founder and CMO/CPO at Ostrom.
What the investors have to say
“We clearly see that the energy market is ripe for disruption. We have made selected investments in the area to drive the energy transition – building a fully digitized electricity provider is one of them. We invested in Ostrom from Day 1 because of the large addressable market of the business model, the obvious customer benefits, and the quality of the founders,” said Alexander Kudlich, General Partner at 468 Capital.
“We’ve been thoroughly impressed by the power of execution of Matthias and Karl, who between them possess a deep insight into the market, and a strong approach to customer acquisition – as seen by their impressive growth to date – and we’re excited to join them in pursuit of their vision to really make green energy simple,” said Emmet King, Partner at J12 Ventures.
“GFC has been closely following Ostrom since the early days. Over the course of 2021, we were impressed to see how rapidly Matthias, Karl, and their team implemented the product and achieved product-market fit. We are excited to be part of the journey going forward and helping the team build the most customer-centric, mobile-first, and transparent green energy retailer in Germany and beyond,” said Jan Ossenbrink, Partner at Global Founders Capital.
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