Octopus Energy

Octopus Energy

Provides affordable green energy solutions

About Octopus Energy

Simplify's Rating
Why Octopus Energy is rated
A-
Rated A on Competitive Edge
Rated A on Growth Potential
Rated B on Rating Differentiation

Industries

Data & Analytics

Automotive & Transportation

Energy

Company Size

1,001-5,000

Company Stage

Growth Equity (Venture Capital)

Total Funding

$2.5B

Headquarters

London, United Kingdom

Founded

2016

Overview

Octopus Energy provides affordable green energy solutions to households and businesses across multiple countries, including the UK, US, Japan, Germany, New Zealand, and Australia. The company focuses on renewable energy and utilizes technology and data to enhance its services. Its main product offerings include direct energy sales to consumers and the licensing of its proprietary Kraken technology platform to other energy providers. This platform helps streamline energy management and improve customer experience. Unlike many competitors, Octopus Energy emphasizes sustainability and offers additional services such as electric vehicle solutions. The company's goal is to make green energy accessible and affordable while promoting the use of renewable resources.

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Simplify's Take

What believers are saying

  • 'Zero Bills' initiative could revolutionize sustainable living in the UK.
  • Partnership with Energisa opens South American renewable energy market.
  • Investment in Ocergy enhances offshore wind capabilities globally.

What critics are saying

  • Increased competition in renewable energy may impact market share.
  • Rapid international expansion exposes Octopus to geopolitical risks.
  • £3 billion repayment to UK government could strain financial resources.

What makes Octopus Energy unique

  • Octopus Energy's Kraken platform optimizes energy usage for zero-bill homes.
  • The company leads in electric aircraft charging with AeroVolt collaboration.
  • Octopus Energy's global reach includes partnerships in Brazil and Japan.

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Funding

Total Funding

$2476.6M

Above

Industry Average

Funded Over

2 Rounds

Growth Equity VC funding comparison data is currently unavailable. We're working to provide this information soon!
Growth Equity VC Funding Comparison
Coming Soon

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Paid Vacation

401(k) Company Match

Parental Leave

Flexible Work Hours

Company Equity

OE Group Share Scheme

Growth & Insights and Company News

Headcount

6 month growth

-1%

1 year growth

-15%

2 year growth

0%
Transport and Energy
Dec 11th, 2024
Octopus invests in Nordic Generation Fuels

Octopus Energy’s generation arm has announced a new investment in Nordic Generation Fuels (NGF) to accelerate clean air travel.

Forbes
Jul 26th, 2024
Revamped U.K. Net Zero Initiative To Give Climate Startups A Voice

Carolyn Dawson of Tech Nation says tech companies can make an impact on climate mitigation Tech Nation/Founders ForumHere’s the irony. While an important subset of tech entrepreneurs are focused on the mitigation of climate change, the innovation economy as a whole is playing a significant role in pushing emissions to ever-higher levels. From co-working sectors to server farms, computers are collectively consuming ever-increasing amounts of electricity, creating an enormous carbon footprint in the process.So what can be done? Well, U.K. energy provider Octopus Energy has joined forces with entrepreneur networking platform Tech Nation to relaunch an initiative designed to help businesses of all sizes cut their emissions while also providing climate tech startups with an opportunity to enter into conversations with CEOs, CTOs and government officials. Earlier this week I spoke to Tech Nation CEO, Carolyn Dawson, and Octopus Energy Product Marketing Manager, Rebecca Dibb-Simkin about the thinking behind the scheme and the potential opportunities for startups.First some context. Originally created as a government-backed body tasked with supporting innovation economy entrepreneurs, Tech Nation almost disappeared in 2023 when public funding was withdrawn

Financial Post
Jun 21st, 2024
Octopus Energy Repays UK £3 Billion

Octopus Energy will repay the UK government £3 billion ($3.8 billion) after receiving support for its takeover of Bulb Energy, which collapsed during the energy crisis. The government had paid about £1.6 billion to help Octopus buy energy in advance, resulting in a profit close to £1.3 billion. Octopus gained 1.5 million accounts from Bulb, securing its position as the top electricity supplier in the UK. This outcome is seen as a successful implementation of a special administration regime.

Startups Magazine
Jun 6th, 2024
World-class investors join Octopus Energy Group as it supercharges growth | Startups Magazine

Octopus Energy is expanding its global influence with new investors Galvanize Climate Solutions ("Galvanize") and Lightrock joining its investor base.

The Standard
May 7th, 2024
Octopus Energy valuation jumps to nine billion dollars as investors double down

Major shareholders hike stakes in energy giant further after Octopus was recently named UK’s largest electricity supplier

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