Cloover, a Berlin-based AI-native energy platform for residential solar, heat pumps, and home electrification, has secured a new €86.2 million ($100 million) facility. It also announced that it became profitable three years after its launch, with a revenue run rate exceeding €301.7 million ($350 million).
In January 2026, the company announced that it had secured a €1.04 billion financing commitment. The new €86.2 million in financing capacity brings the total to more than €1.12 billion ($1.3 billion), backed by a €350 million guarantee from the European Investment Fund. This EIF guarantee will be used for energy equipment and installations across Cloover’s markets, which will soon include the UK, France and Poland. In 2024, the company announced its €105 million Seed round led by Lowercarbon Capital.
Jodok Betschart, Cloover co-founder, said, “We reach households through the installers they already trust, and then we turn each of those homes into a power plant, and each homeowner into a participant in the energy market. That is a relationship that lasts for decades, not a single transaction.”
Founded in 2023 by Betschart, Peder Broms, and Valentin Gönczy, Cloover supplies independent installation businesses with financing, software and energy products. The company states that, rather than building its own sales force, it built an AI-native operating system for the independent installers.
The company’s modus operandi involves installers keeping their name, their customers, and their choice of hardware, and selling everything from solar and heat pumps to energy-efficient renovations, with financing embedded at the point of sale.
Cloover claims that it supplies the financing, the software, and now the energy products, and end customers get a decision in under two minutes, pay nothing upfront and can spread the cost over up to 25 years.
The company reports that Cloover is currently one of the top three residential energy players in Europe’s largest energy market, and every one of its projects was sold by an independent installer. It serves clients in five European markets and runs around 20,000 installations a year through its installer partnerships.
The German company is now planning to focus on the energy side and aims to turn every home into a virtual power plant. Once its system is installed, through Cloover Energy, a home energy management system runs the house, dynamic and fixed tariffs cover the supply, and a virtual power plant aggregates distributed solar, batteries, heat pumps, and EV chargers into a single tradable pool of flexibility.
The company refers to this combination as an AI-native neo-utility. “A conventional supplier owns power stations, buys and resells power, and competes on price at the next comparison. A neo-utility owns no generation at all. Its capacity is the installed base itself, and its product is what that base can do for the grid,” Cloover explained.
Cloover highlights that its models forecast generation and consumption house by house and schedule storage and flexible loads within the limits each household sets, so a battery charges when power is cheap, and a heat pump runs when it costs the least, without anyone in the house noticing.
Gönczy, Cloover co-founder, commented, “Everything we do runs on AI, from the underwriting to the way we optimise energy in each home. The incumbents are adding AI to systems built decades ago. We can do in seconds what takes them days, and the gap widens as we scale.”
According to the company, as global electricity consumption grows, driven by the electrification of transport, heating, industry, and AI data centres, the home is no longer a passive consumer. It opines that a connected home that generates, stores, and trades its own energy is a hedge against rising prices and a productive asset, and that the company that manages it at scale holds one of the strongest positions in energy.
It further notes that feed-in tariffs and net-metering schemes are being phased out or restructured across the continent and argues that a virtual power plant is the answer. Instead of a fixed payment for exported power, a household earns from the value of its flexibility, traded in real time.
Broms, Cloover co-founder, concluded, “The hardware for the energy transition already works. What has been missing is a company that makes it affordable, reaches people through the installer they know, and turns their homes into a real energy business. That is the neo-utility we are building.”
Source: EU-Startups
