Dexter Energy secures €10.5m in Series B funding

Dexter Energy, a Rockstart Energy 2018 portfolio company, is celebrating a very big milestone: €10.5m Series B round to further accelerate the energy transition toward a fully renewable power system

This round was led by ETF Partners and Asetila with continuing participation from Rockstart as an existing investor, alongside Newion and PDENH. Dexter Energy intends to use this funding to fast-track product development and launch its leading short-term optimization services for renewables in six more European countries in the next two years.

Dexter Energy supports the green energy transition through AI algorithms and big data analytics, helping energy companies manage their short-term trading activities for a 100% renewable portfolio. Within the last two years, the Amsterdam-based startup successfully increased its wind and solar power forecasting and trade optimization revenues by a factor of 10.

“We are very happy to welcome ETF Partners aboard who share our vision of transforming the energy sector with AI. We really value their entrepreneurial mindset and ongoing leadership in sustainable investment. We see them as a fantastic sparring partner and we are confident they will help guide the growth of our company in the best possible direction.” 

Luuk Vekeen, CEO and co-founder, Dexter Energy.

”Balancing the energy system will become a more significant challenge with the expected increase in renewable, but intermittent, energy sources. Dexter’s AI-based software platform will play a crucial role in reducing system imbalances by providing best-in-class renewable generation forecasts and optimizing energy trading decisions. Rockstart is thrilled to participate in this Series B round, which will enable the company to accelerate the scaling of their business across Europe.”

Max ter Horst, Managing Partner Energy, Rockstart

This is an exciting milestone for Dexter Energy and a testament to the strength of their vision for a renewable power system. Congratulations, team!