1 of 1
Story summary
- Octopus Energy will spin off its technology arm Kraken, valuing Kraken at $8.65 billion after a $1 billion round led by D1 Capital Partners.
- Kraken will operate independently, providing AI-powered software to utilities worldwide and serving over 70 million customer accounts.
- Octopus Energy will retain a 13.7% stake in Kraken.
- The demerger is expected to enhance Kraken's growth potential and may lead to an IPO within two years.
