Stuttgart-based energytech startup, metergrid, has closed an oversubscribed Series A financing round of €10 million, the largest growth financing to date in the German tenant electricity (Mieterstrom) market. Europe’s leading investor for the digital energy economy, SET Ventures, led the Series A round. Existing investors Hager, LBBW Venture Capital, Mätch VC and several business angels are re-investing, sending a strong signal of confidence in metergrid’s business model.
The energy transition in German cities will be decided where the majority of people live: in multi-tenant residential buildings. Around 44 million people in Germany live in apartment buildings, yet precisely there, the potential of locally generated renewable energy has so far remained largely untapped. metergrid is addressing this structural gap.
From tenant electricity provider to the central energy ecosystem for multi-tenant buildings
The goal is to enable buildings of any size and ownership structure, whether private landlords, homeowners’ associations, institutional real estate companies, or utilities to participate in the energy transition for the first time in a simple, economical and scalable way. The solution is tenant electricity: solar power generated on the building’s rooftop is sold directly to the residents. The model is deliberately designed to be both socially and economically attractive: tenants benefit from tangible electricity cost savings of up to 30%, while property owners can achieve returns of up to 20%.
With the new funding, metergrid is evolving from a specialised tenant electricity solution into a comprehensive energy ecosystem for multi-tenant residential buildings. At its core, metergrid is developing an operating system: a platform that combines services, software and billing. metergrid connects locally generated rooftop solar energy with supplementary grid electricity, billing, and operational control. At the same time, the platform lays the foundation for the seamless integration of EV charging infrastructure, energy management systems, storage solutions, and future hardware components. The next expansion stages include automated residual electricity supply as well as the integration of heating and ancillary cost billing and additional energy and building services via a central platform. By 2030, the company aims to supply one million people in multi-tenant buildings with renewable energy.
“Without solutions for multi-tenant buildings, the energy transition remains a promise for a few, we are changing that,” says Johannes Mewes, Co-Founder and Managing Director of metergrid, who previously co-founded and scaled the mobility platform FREE NOW and is now transferring this platform logic to the building sector. “We are bringing platform logic to buildings and making energy supply in multi-tenant properties automated, economical, and scalable for the first time. Our approach combines software, services, and operational execution and enables buildings themselves to become an active part of the energy system.”
Strong investor setup for the next growth phase
With SET Ventures, metergrid gains Europe’s leading energy tech venture capital firm as its lead investor. Founded in Amsterdam in 2007, SET Ventures is one of the most experienced investors in digital solutions for a climate-neutral energy system. The firm is currently investing from a €200 million fund, underscoring the strategic relevance and future viability of metergrid’s business model.
“Until now, multi-tenant residential buildings have been almost entirely excluded from the energy transition. metergrid’s solution provides a holistic, fully digitalised approach that unlocks this market and enables millions of people to participate in the energy transition,” says Dr. Till Stenzel, Partner at SET Ventures. “The team combines deep industry expertise with a clear technological vision and a scalable business model. We see the potential for a platform with European relevance.”
Partner for the energy infrastructure of tomorrow
Today, metergrid already operates and digitises several thousand tenant electricity projects across Germany and has increased the number of residents supplied with locally generated solar power from approximately 10,000 last year to more than 53,000 residents. As a result, tenant electricity is evolving from a niche product into a scalable infrastructure component of the urban energy transition. Originally launched as a billing solution, metergrid has become a fully integrated platform for tenant electricity and shared building energy supply. It covers all steps, from profitability analysis and electricity supply to operational processes and automated billing.
“With more than 53,000 residents supplied with tenant electricity via metergrid, the model is developing from a niche product into a mass phenomenon, a crucial step toward making the energy transition successful in urban areas as well,” explains Julian Schulz, Co-Founder and Managing Director of metergrid, one of Germany’s leading thought leaders in tenant electricity and shared building energy supply. “The technology required for scaling is already available. metergrid makes energy supply in multi-tenant buildings simpler than ever before, enabling us to make a real contribution to cost reduction, climate protection, and security of supply.”
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About metergrid
metergrid is an innovative Stuttgart-based company specialising in tenant electricity projects and decentralised energy supply. Founded in 2021, metergrid supports the real estate industry in offering tenants locally generated, clean electricity directly from their own buildings. With more than 53,000 residents supplied, metergrid is now one of the market leaders in tenant electricity in Germany and has significantly increased the number of supplied residents compared to the previous year (approx. 10,000). The company offers a nationwide end-to-end solution, ranging from profitability calculations and full project implementation to suitable hardware solutions, regulatory coordination, billing software, and operational services. With its scalable and economically attractive solution, metergrid enables lower energy costs for tenants, attractive returns for property owners, and makes a measurable contribution to a sustainable energy supply. More information is available at: www.metergrid.de