18 March 2021
PDENH co-invests in new investment round Dexter Energy
18 March 2021
Breaking! PDENH, which we co-manage, is investing in Dexter Energy again. Dexter has now successfully raised another €2.0 million to continue their mission of helping energy companies transition smoothly to renewable energy generation. Read all about it in the press release below.
- press release -
Newion leads €2 million investment round in Dexter Energy – for an accelerated energy transition
AMSTERDAM, 18 March 2021 – Dexter Energy, a fast-growing startup that helps energy companies in Europe optimise their energy portfolio using AI, has received €2 million in a Series A investment round led by Newion, an early-stage investor in B2B software companies. Existing investors PDENH, Stephen Asplin and Andreas Gelfort also participated in this round.
The energy transition is changing the electricity market. Where previously a select number of fossil-fuelled power stations supplied electricity on demand, green energy is now flowing onto the grid when the wind blows or the sun shines. To cope with this, companies with significant energy generation or consumption will increasingly have to anticipate volatile weather and market conditions.
Dexter Energy meets the need to reduce the uncertainties resulting from the energy transition. Using AI-driven software, Dexter Energy predicts energy flows and market movements, enabling companies to optimise their generation and consumption. Customers also gain control over increasing imbalance costs resulting from the energy transition. Emission-free electricity sources are therefore stronger in the market, and fossil fuels can be scaled down sooner.
Luuk Veeken, CEO and founder of Dexter Energy:
“We are extremely pleased with this funding, which will be used to further improve our products for our customers. Newion has a strong track record in growing and scaling software companies. We are eager to benefit from their knowledge and experience and hope to roll out our optimisation software to all liberalised European energy markets in the coming years.”
Patrick Polak, Managing Partner of Newion:
“Dexter Energy is accelerating the energy transition, not only in the Benelux, Germany and the UK, but soon also in the rest of the world. We see many opportunities, and will be very happy to support the Dexter team in their further growth towards market leadership.”
Anthony Viellevoije, Investment Director at PDENH:
“We are incredibly proud of Dexter’s success and are pleased to confirm our confidence in the team with a contribution to this Series A round. Dexter Energy’s forecasting solutions accurately and automatically predict the load on the energy grid, which is becoming crucial for energy companies.”
