Kraken Tech Seeks $500M, Aims for 100M Accounts
Update: 2025-12-05
Description
Kraken Technologies, Octopus Energys energy software platform, aims to raise $500M, potentially valuing it at $15B. This move coincides with Octopuss plan to spin off Kraken into a separate entity. Krakens advanced machine learning capabilities have driven Octopuss growth, helping it become the UKs largest electricity supplier. The platform supports over 70M global customer accounts and is expected to reach 100M by 2027. Krakens cloud-based, scalable design reduces operational costs, improves customer experience, and aids utilities in navigating the shift to cleaner energy sources.
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