Octopus Energy raises long-term investment to value startup at $5bn
Octopus Energy has raised $300m of investment to value the power supplier at $5bn – despite soaring energy prices that have triggered a wave of collapses among its rivals.
The long-term tie-up with Canada Pension Plan (CPP) Investment Board is the second big investment in Octopus Energy since the start of the energy crisis during which dozens of smaller supply rivals have folded.
More than 20 UK energy companies have gone bust in a little over 12 weeks after a record rise in energy market prices, including the biggest, Bulb Energy, which was unable to raise funds from investors to keep supplying its 1.7 million customers.
The latest equity investment in Octopus backs its founder Greg Jackson’s plan to bring a “digital revolution” to the energy
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