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22 Octopus Energy to spin out AI utility platform Kraken at €7.3B valuation after €850M funding round

EU-Startups
Rahul Raj @ EU-Startups 1 place · today 06:08 EDT

Octopus Energy to spin out AI utility platform Kraken at €7.3B valuation after €850M funding round

Octopus Energy Group has raised €850 million ($1 billion) for its technology company, Kraken. The round is the first standalone investment into Kraken and values the business at €7.3 billion ($8.65 billion). This transaction establishes Kraken’s formal independence and demerger from Octopus.  The round was led by D1 Capital Partners, with participation from Fidelity International, ...

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