Dutch AI startup secures €2m to optimise utility DER management

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Dutch startup Dexter Energy has secured a €2 million ($2.4 million) Series A investment to expand its footprint in the utility energy transition sector.

The investment led by Newion, an early-stage investor in B2B software companies, in partnership with existing investors PDENH, Stephen Asplin, and Andreas Gelfort will help the startup to further develop and commercialise its AI-based distributed renewable energy resources management platform.

With its AI-powered software platform, Dexter Energy predicts energy supplies and demands, as well as market movements to help utilities to optimise their renewable electricity production and consumption.

The platform allows utilities to maximise their renewable energy investments and align construction, operations and maintenance costs with returns on investments.

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Dexter Energy claims that its solution helps utility companies to meet challenges associated with the energy transition, hence it speeds up the transition to net-zero for energy providers.

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 optimisation software platform to all liberalised European energy markets in the coming years.”

Anthony Viellevoije, investment director at PDENH: “We are extremely proud of Dexter’s success and happy to reaffirm our confidence in the team with a contribution to this Series A round. Dexter Energy’s software platform precisely and automatically forecasts the load on the electrical grid, which will become increasingly key to the success of energy companies.”