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Amsterdam-based Dexter Energy raised €23 million in a Series C funding round on 2 July 2025. The round was led by Klima, the energy transition fund of Spanish investor Alantra, with participation from Mirova and existing shareholders ETF Partners, Newion and PDENH.
Dexter Energy, founded in 2017 by Luuk Veeken, Hubert Penn and Fons de Leeuw, builds software that enables energy companies to automate and optimise their short-term trading in wind and solar energy and battery storage. The company operates in nine European countries and works with more than 80 energy companies, including Centrica Energy, Pure Energie and Belgian utility Luminus.
With the new investment, Dexter Energy intends to grow its team, accelerate the further development of its platform and enter new European markets. Battery trading optimisation is central to this strategy: the Dutch market will be developed further first, followed by other European countries.
Dexter Energy's software combines machine learning with optimisation algorithms to help energy companies buy and sell power on short-term markets. The platform processes around 1,000 GB of weather and market data daily to generate forecasts for generation output and prices, on the basis of which trading positions are automatically adjusted.
Energy companies operating wind and solar parks, or battery storage assets, must continuously estimate how much energy they will deliver or consume and at what price. Deviations from their submitted position result in so-called balancing costs. Dexter Energy states that clients can reduce those costs by up to 35 percent by using its software.
CEO Luuk Veeken founded the company on the conviction that the accelerating growth of renewable energy requires smarter trading software. Wind and solar are variable by nature, which considerably increases the complexity of energy trading compared with conventional power plants.
Klima, the fund that led the round, focuses specifically on companies contributing to the European energy transition. The fund operates under Alantra, a Spanish independent asset manager and investment bank. Mirova, a subsidiary of Natixis Investment Managers specialising in sustainable investments, also participated.
Existing investors ETF Partners, Newion and PDENH took part once again. ETF Partners is a European growth fund focused on climate technology, Newion is a Dutch venture capital firm and PDENH is the provincial development fund of Noord-Holland. Their repeated participation indicates continued confidence in the direction the company has taken to date.
Dexter Energy currently operates in nine European countries. Its services are already running for clients in the Netherlands, Belgium and Germany. With the Series C proceeds, the company aims to extend that presence further, though it has not yet publicly disclosed which specific markets are next on the agenda.
Battery storage will play a prominent role in this expansion. As more batteries are connected to European grids, demand grows for automated trading software that responds quickly to price fluctuations. Dexter Energy intends to further embed its battery optimisation services in the Netherlands before rolling them out elsewhere.
Raising capital at this stage fits into a broader trend in which European climate-tech companies finance growth phases through sector-specific funds. For Dutch founders and investors in the energy transition sector, this round illustrates that specialised European funds such as Klima and Mirova are actively seeking companies with a proven software model and a scalable customer base. The fact that Dexter Energy already serves more than 80 energy companies across nine countries gives it the position to substantiate further expansion with concrete market data, an argument that carries increasing weight in conversations with European policymakers and grid operators.
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