Octopus Energy operates a technology-driven utility platform focused on renewable electricity, smart tariffs, and energy infrastructure modernization. The company combines clean power generation with advanced software to deliver lower-cost, greener energy to consumers and businesses.
Octopus Energy also provides solar, battery storage, electric vehicle charging solutions, and grid services, positioning itself as a full-stack clean energy technology provider.
What Is Octopus Energy and What Does It Do?
Octopus Energy, founded in 2015, is a London-based clean energy and technology company operating across renewable power generation, smart grid software, and consumer energy services.
The company supplies renewable electricity and gas, offers dynamic pricing through smart tariffs, and enables energy flexibility via its Kraken technology platform. Octopus Energy supports residential customers, enterprises, and utility partners worldwide.
Octopus Energy employs 8,177 employees as of April 2024 and operates across Europe, North America, and Asia-Pacific markets.
How Much Funding Has Octopus Energy Raised?
1. Private Equity Round
- Amount Raised: $327M
- Date: May 2020
- Lead Investors: Origin Energy
- Motivation: To expand renewable energy offerings and strengthen the Kraken technology platform.
2. Corporate Round
- Amount Raised: $247M
- Date: December 2020
- Lead Investors: Tokyo Gas
- Motivation: To accelerate international expansion and develop advanced energy solutions.
3. Private Equity Round
- Amount Raised: $655M
- Date: September 2021
- Lead Investors: Generation Investment Management
- Motivation: To scale global operations and invest in renewable infrastructure.
4. Private Equity Round
- Amount Raised: $300M
- Date: December 2021
- Lead Investors: CPP Investments
- Motivation: To strengthen technology capabilities and customer experience.
5. Private Equity Round
- Amount Raised: $550M
- Date: July 2022
- Lead Investors: CPP Investments
- Motivation: To expand clean energy generation and smart grid services.
6. Series F
- Amount Raised: $800M
- Date: December 2023
- Motivation: To support rapid growth, grid transformation, and international scale.
Total Funding Raised: $1.96 Billion
Current Valuation: $9 Billion (as of Jun 2024)
Latest Funding Date: December, 2023
Key Investors
1. Generation Investment Management
- Details: A sustainability-focused investment firm co-founded by Al Gore.
- Investment Focus Areas: Renewable energy, climate technology, sustainable infrastructure.
- Notable Investments: Octopus Energy, Beyond Meat, Asana, DocuSign.
2. CPP Investments
- Details: Canada Pension Plan Investment Board managing global pension assets.
- Investment Focus Areas: Infrastructure, private equity, renewable energy.
- Notable Investments: Octopus Energy, Ant Group, Enbridge, Glencore.
3. Tokyo Gas
- Details: Japan’s largest city gas provider expanding into global clean energy.
- Investment Focus Areas: Energy infrastructure, renewables, smart energy systems.
- Notable Investments: Octopus Energy, First Solar, Summit Power.
4. Origin Energy
- Details: An Australian energy company focused on electricity, gas, and renewables.
- Investment Focus Areas: Energy generation, retail utilities, clean energy.
- Notable Investments: Octopus Energy.
Where Is Octopus Energy’s Headquarters?
Octopus Energy is headquartered in London, United Kingdom, serving as a central hub for its global clean energy and technology operations.
What’s Next for Octopus Energy?
Octopus Energy is focused on scaling its Kraken platform globally while expanding renewable generation assets and grid flexibility services. The company aims to deepen its presence across Europe, North America, and Asia-Pacific markets.
With increasing global demand for decarbonization and smart energy infrastructure, Octopus Energy is positioned to play a central role in the transition toward a greener, more efficient global energy system.
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