Dexter Energy raises €2 million in Series A funding to accelerate the energy transition
Today we announce that Rockstart portfolio company Dexter Energy raised a 2 million Series A round led by Newion with existing investors such as PDENH, Stephen Asplin, and Andreas Gelfort joining the round.
The energy transition causes a drastic change in electricity markets. Where previously a select number of fossil fuel plants provided electricity on-demand, green power now flows only when the sun is shining or the wind is blowing. To successfully compete in this new playing field, large-scale providers of renewable electricity must anticipate the ever-changing weather and market conditions.
Dexter Energy helps reduce the uncertainties inherent to the energy transition. With its AI-powered software platform, Dexter Energy predicts energy supplies and demands as well as market movements, so companies can optimize their renewable electricity production and consumption. The platform also helps customers get a grip on the increasing imbalance costs caused by the transition. Powered by Dexter Energy, emission-free electricity suppliers have a stronger position in the market and can phase out fossil fuel sources more rapidly.
Luuk Veeken, CEO and founder of Dexter Energy: “We are very happy with this funding, which will be used to further enhance our products. Newion has a strong track record in helping software companies to scale and we are looking forward to taking full advantage of this expertise. We aim to roll out our optimization software platform to all liberalized European energy markets in the coming years.”
Dexter Energy is a Rockstart portfolio company since 2018 when they went through the acceleration program. This is what Hubert Penn, CCO, Dexter Energy had to say about Rockstart: “Besides the fundamentals, Rockstart has been and remains very helpful in fundraising. Their network in energy venturing helps us find the right investors and their experience in startup funding leads to the right deal structure.”
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