Dexter Energy in a €2 million in a Series A round led by Newion.

Dexter Energy, an Amsterdam, Netherlands-based provider of forecasting energy loads for energy providers, announced completing a €2 million ($2.4M) in a Series A round.

The money was raised from investors ld by the Dutch VC Newion Investments, and included contributions from existing investor PDENH (Participation Fund Sustainable Economy North-Holland) and other private investors whose name was not disclosed.

Dxter Energy, founded in 2016 by CEO Luuk Veeken and Hubert Penn, develops software for energy retailers and large-scale energy consumers helping them with forecasting energy loads on asset-level or cluster-level as well as forecasting of short-term electricity prices. The energy providers are able to predict supplies and demands, as well as market movements, reflecting in being able to optimise their production and consumption. The overall goal here is to help get renewable energy providers up to speed, competing with fossil fuel fired providers, and phasing them out.

Customers include energy companies like Axpo, Greenchoice, NieuweStroom, and Pure Energie.