Octopus Spinoff Raises $1B, Kraken AI Platform Soars
Update: 2025-12-30
Description
Octopus Energy Groups Kraken technology arm secures a $1 billion equity raise, valuing the business at $8.65 billion. Led by D1 Capital Partners, the round also includes Fidelity International, Durable Capital Partners, and the Ontario Teachers’ Pension Plan Board. Kraken gains full independence with a $320 million investment for Octopuss retail, generation, and clean tech operations. Kraken, a neutral AI-driven platform, handles 70 million global customer accounts and 15 billion data points daily, generating $500 million in yearly contracted revenue. Major clients like EDF Energy, E.ON Next, and National Grid show Krakens expansion beyond power. The split allows Kraken to grow faster, focusing on utility upgrades worldwide while Octopus sharpens its focus on 11 million customers and clean tech. Checkout Solipillow.com
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