Groundbreaking simplification of green electricity procurement for entrepreneurs convinces investors in signed financing round
Frankfurt am Main, August 28, 2024 — Otark GmbH, an innovative greentech start-up, has successfully completed a seed financing round of 2.5 million euros. Otark operates an innovative trading platform that enables commercial and industrial electricity consumers to buy certified green electricity directly from producers. The strong investor interest was reflected in the multiple oversubscription of the financing round. The main investor in the financing round is the Munich-based venture capital company Venture Stars, accompanied by other well-known investors such as D11Z, Tribe, Aream, bmh and DeJu.
“This financing round marks the start of a growth phase for Otark,” says Jan Quecke, CEO and co-founder of Otark GmbH. “Our vision is to simplify and make trading in certified green electricity more accessible and thus play a significant role in shaping the energy revolution. Through the financing, we can quickly expand our platform to become a strong partner for power producers, entrepreneurs, public utilities and other service providers in the energy sector. ”
Companies that want to purchase green electricity directly and green electricity producers are now faced with the challenge of bringing supply and demand together and then negotiating individual electricity supply contracts in a complex process. Otark's independent, neutral platform digitizes and automates this process and gives a new group of customers easy access to certified green energy that meets the highest standards.
Jan Quecke has many years of experience in the energy industry, while co-founder and COO Ortwin Kartmann has a track record in digitization as a serial entrepreneur and founder of companies such as SOFORT and Shopgate.
“This founding team is characterized by extensive entrepreneurial experience, technological expertise and a strong commitment to implementation. It understands the challenges and opportunities of digitization in the energy market. Otark's approach is an excellent fit for our investment strategy. The success of the financing round demonstrates the great trust of all partners involved in the team and Otark's vision.”
— says Martin Junker, managing director of VentureStars
“We have set ourselves the goal of developing the best solution for our users and using intelligent technologies to revolutionize the procurement of green electricity. With the financing, we can expand Otark into the most innovative platform, expand our range of services and meet growing market demand more quickly. We are pleased to make green electricity trading as efficient and transparent as possible for all parties in the future.”
— Ortwin Kartmann added
At the same time as the financing round, Otark was able to gain a competent strategic advisory board, which in addition brings the company extensive energy and financial market-oriented expertise. With this strong positioning, Otark aims to play a leading role as a neutral player in green energy trading and drives forward the technological innovations that are decisive for the energy revolution.
About Otark
Otark GmbH specializes in digitizing green electricity trading and is setting new standards in the industry. With a clear focus on neutrality and transparency, Otark makes trading in renewable energy easier than ever before. The company offers a fully digitized platform that seamlessly integrates all processes from procurement to billing. As a result, Otark enables simple and efficient processing of green energy transactions for every company, from industrial groups to medium-sized companies.
Otark's goal is to accelerate the energy revolution by making it easier for its customers to access green electricity and simplifying the management of their energy contracts through cutting-edge digital solutions. Otark stands for innovation, neutrality and reliability.
About Venture Stars
Venture Stars is a venture capital fund from Munich with a focus on early-stage investments in innovative, digital B2C and B2B business models. The Venture Stars team typically invests 0.5 — 1.5 million euros initially and up to 3 million euros per company. The Venture Stars partners are serial start-up entrepreneurs themselves and work closely with the founders of the portfolio companies. Cooperation with Venture Stars usually goes beyond investing capital and includes know-how, network and operational support on topics such as strategy, organizational development, financing and exit.
