Vienna’s Podero Raises €5.5M as Energy Markets Push Utilities Toward Smarter Solutions

With energy markets across Europe facing increasing fluctuations due to the growing presence of renewables, utilities are under pressure to adapt. The need to manage volatile consumption from solar panels, wind turbines, and distributed energy resources has intensified, especially as countries like Germany enforce dynamic tariffs. Vienna-based Podero, a software platform designed to help utilities reduce energy costs by over 25%, has secured €5.5M in seed funding. The investment round was led by Planet A Ventures and included contributions from Systemiq Capital, Pale Blue Dot, and Push Ventures.

The company, founded in July 2022, aims to accelerate the energy transition while ensuring grid stability. With this new funding, Podero plans to expand its European sales and customer success teams, enhance marketing efforts, and improve its platform’s capabilities. Enhancements will focus on increasing integrations with flexible devices, optimizing algorithms for more electricity markets, and developing advanced features that streamline the optimization process for utility providers.

As households continue to integrate electric vehicles, heat pumps, and home batteries, utilities face mounting challenges from competitors like Tibber, Octopus, and Greenly, as well as from equipment providers such as 1Komma5, Enpal, and Soly. These shifts in the market create both risks and opportunities for utilities looking to remain competitive while reducing their operational costs and carbon footprints. Podero’s software, which helps utilities optimize the use of Distributed Energy Resources (DERs) such as heat pumps, EV chargers, and inverters, enables them to offer more cost-efficient contracts and engage in energy trading.

Utilities can access Podero’s services through a white-label app or via API integration. Tobias Ovall, Manager of Digitalization and Transformation at E.ON Nordics, commented, “We are seeing rapidly increasing volatility in electricity markets and new competitors. Utilities must innovate to offer products that help customers save costs and give them control over their energy usage.”

Unlike competitors focusing solely on device integration, Podero also provides device control and energy trading capabilities. The company’s platform currently supports over 54 manufacturers, including Tesla, Viessmann, Huawei, and Volkswagen, enabling utilities to aggregate power from devices and optimize their usage based on market signals, spot prices, and household PV production. According to Chris Bernkopf, CEO and co-founder of Podero, this approach allows utilities to offer lower electricity rates and participate more actively in energy markets.

In addition to device management, Podero offers forecasts and trading recommendations, which allow utilities to trade on spot day-ahead, intraday, and balancing energy markets. Nick de la Forge, Partner at Planet A, emphasized that Podero’s technology addresses critical challenges in the energy sector, helping utilities unlock the full potential of decentralized energy while supporting grid reliability.

As renewable energy production rises and more flexible devices enter the market, price volatility is expected to increase. Bernkopf anticipates that over the next five years, renewables will dominate the market, with over 100 million new electric devices coming online. This shift will require utilities to adopt innovative tools like Podero to stay ahead of new market entrants and maintain their competitive edge.