Berlin AI native energy platform Cloover announces the completion of €86.2 million in financing

According to EU-Startups, Berlin-based AI-native energy platform Cloover announced the completion of a new funding round of €86.2 million (approximately $100 million) and received €350 million in guarantees from the European Investment Fund (EIF), bringing the total funding amount to over €1.12 billion (approximately $1.3 billion). Meanwhile, the company announced that it has officially achieved profitability three years after its establishment, with an annualized revenue exceeding €301.7 million (approximately $350 million).

Cloover focuses on residential solar energy, heat pumps, and home electrification, providing financing, software, and energy products in collaboration with independent installers. It currently covers the five major markets in Europe, completing approximately 20,000 installation projects each year, making it one of the top three residential energy players in Europe's largest energy market. The company plans to further expand into the UK, France, and Poland markets. In addition, Cloover has officially launched an AI-native "new utility" model, transforming each household into a virtual power plant through a home energy management system, aggregating distributed solar energy, energy storage, heat pumps, and electric vehicle charging stations to enable real-time trading of electricity flexibility.