Dexter Energy raises €23M to expand AI platform for renewable energy management

Funding for energy scaling across Europe

Amsterdam-based scaleup Dexter Energy has raised €23 million in a new Series C investment round to accelerate the development of its AI-driven software for managing wind and solar parks. The company, founded in 2016 by Luuk Veeken, Hubert Penn and Fons de Leeuw, helps energy companies in thirteen European countries to improve the performance of their renewable energy assets and manage grid imbalances.

Dexter Energy, which now employs around 100 people, uses AI models trained on historical weather and market data to predict electricity generation, demand, and prices. In recent years, the company has expanded its platform to not only provide advisory insights but also directly control wind turbines and solar installations via technical integrations and APIs (Application Programming Interface). This is crucial for managing fluctuating renewable energy supply in real time and helping stabilise increasingly congested electricity grids.

According to Veeken, the company is building a new category: ‘trading and balancing power as a service’, automating operational decisions for renewable energy providers. The service is already in use with customers in the Netherlands, Belgium and Germany, and the new funding will support further European expansion and research.

Why is Amsterdam becoming a hub for cleantech and smart grid solutions?

While Amsterdam is the company’s base, Dexter Energy is actively pursuing scalability across other European markets, particularly as the energy transition accelerates and grid imbalances become a central operational challenge. 

Locally, energy companies like Greenchoice and Scholt Energy, both Dexter Energy clients, play a vital role in integrating sustainable generation into an increasingly complex system. Alongside scaleups like Dexter, Amsterdam’s energy innovation ecosystem includes grid operator TenneT’s regional operations and initiatives by Energy Transition Campus Amsterdam (ETCA) and the Amsterdam Economic Board, positioning the city as a hub for smart energy solutions in the Netherlands.

Read more about Amsterdam’s growing energy ecosystem