Cloover, a Berlin-based AI-native energy platform, has completed a new funding round of €86.2 million (around $100 million), supported by a €350 million guarantee from the European Investment Fund (EIF). Total funding now stands at over €1.12 billion, or roughly $1.3 billion, according to EU-Startups. The company, founded three years ago, says it has reached profitability, with annualized revenue surpassing €301.7 million (about $350 million). Cloover operates in the residential solar, heat pump, and home electrification space, partnering with independent installers to offer financing, software, and energy products. It serves five major European markets and completes about 20,000 installations annually, ranking among the top three residential energy players in Europe's largest energy market. Planned expansion targets include the UK, France, and Poland. Cloover has also introduced an AI-native 'new utility' model that turns households into virtual power plants through home energy management systems, aggregating distributed solar, storage, heat pumps, and EV chargers for real-time trading of electricity flexibility.
Berlin-based AI-native energy platform Cloover has raised €86.2 million (approximately $100 million) in a new funding round, according to EU-Startups. The European Investment Fund (EIF) is providing €350 million in guarantee support. With this latest infusion, Cloover's cumulative funding has surpassed €1.12 billion (about $1.3 billion).
Cloover also confirmed that it has turned profitable three years after its founding. Annualized revenue has broken through €301.7 million (around $350 million). The company focuses on residential solar, heat pumps, and home electrification. It partners with independent installers, offering them financing, software, and energy products. Cloover currently covers five major European markets and completes roughly 20,000 installations a year, ranking among the top three residential energy players in Europe's largest energy market.
The company plans to further expand into the UK, France, and Poland. Separately, Cloover has launched an AI-native "new utility" model. Using home energy management systems, each household becomes a virtual power plant. Distributed solar, energy storage, heat pumps, and EV chargers are aggregated to enable real-time trading of electricity flexibility.
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