Private Valuation & Funding Round Tracker · Octopus Energy

Octopus Energy funding rounds & valuation history

Name: Octopus Energy Funding Rounds & Valuation History
Creator: growthnavigatefunding.net

Octopus Energy Group, the UK energy supplier and renewables group (Kraken, its software platform, has since been spun out). Funding from the Origin Energy investment (20%) to the Funding round (Dec 2023), sourced to Octopus Energy, Octopus Group, TechCrunch and Octopus Group (Simon Rogerson).

Last updated: 13 Nov 2026 (IST). Every figure re-checked against the linked sources that day. Rows: 5 Currency: US$, nominal

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Last closed round Closed

$7.8B

$800M Funding round (Dec 2023)

Raised in rounds listed

$2.305B

Sum of 5 closed rounds with a disclosed amount (GNF calc.)

Largest round

$800M

Funding round (Dec 2023)

Closed rounds listed

Apr 2020 to Dec 2023

Round history

Newest first. Dashed badges and striped rows are not closed transactions. “—” means the source does not disclose the figure or it cannot be computed on the same basis; see the note in each row.

Octopus Energy funding rounds, Apr 2020 to Dec 2023
Date	Status	Round	Amount	Lead / buyer	Valuation	Val. ÷ run-rate	Source
18 Dec 2023	Closed round	Funding round (Dec 2023)	$800M	Existing shareholdersWith: Origin Energy, Tokyo Gas, CPP Investments, Generation Investment Management	$7.8BStated by Octopus (“values the private company at $7.8bn”); also given as £6.2bn1.56× vs prior closed	—Not disclosedNo run-rate stated in the announcement	Octopus Energy, 18 Dec 2023
10 Dec 2021	Closed round	CPP Investments investment	$300M	CPP Investments	About $5BStated by Octopus (“approximately US$5 billion”)	—Not disclosedNo run-rate stated in the announcement	Octopus Energy, 10 Dec 2021
27 Sep 2021	Closed round	Generation Investment Management investmentGeneration up to $600M for about 13%, plus about $55M from Origin. Amount and valuation are "up to" figures, so no step-up is computed.	Up to about $655M	Generation Investment ManagementWith: Origin Energy (about $55M)	Up to $4.6BPost-deal upper figure stated by Octopus ($4B pre-deal, up to $4.6B post-deal)	—Not disclosedNo run-rate stated in the announcement	Octopus Group, 27 Sep 2021
23 Dec 2020	Closed round	Tokyo Gas investmentTokyo Gas $200M for 9.7%, plus about $50M from Origin; alongside a Japanese joint venture.	$250M	Tokyo GasWith: Origin Energy (about $50M)	$2.1BStated by Octopus (“increasing the entech group’s valuation to $2.1 billion”); TechCrunch: $2.06B (£1.5B)	—Not disclosedNo run-rate stated in the announcement	Octopus Energy, 23 Dec 2020Also: TechCrunch, 23 Dec 2020
30 Apr 2020	Closed round	Origin Energy investment (20%)Origin bought 20% and agreed to move its Australian retail business onto Kraken. Octopus said it remained majority-owned by Octopus Group.	$300M	Origin Energy	Well over £1B (GBP)Stated by Octopus in sterling (“values Octopus Energy at well over £1bn”); not converted; amount per Octopus Group	—Not disclosedNo run-rate stated in the announcement	Octopus Energy, 30 Apr 2020Also: Octopus Group (Simon Rogerson), Dec 2020

Step-up = valuation ÷ the prior closed valuation (GNF calc.), shown only where both figures were stated or reported and neither is a lower bound.

Valuation at each closed round

Valuations as stated or reported at each closed round with a disclosed figure; talks, tenders and filings are not plotted.

Tokyo Gas 2020Dec 2020$2.1B
Generation 2021Sep 2021Up to $4.6B
CPP 2021Dec 2021About $5B
Dec 2023Dec 2023$7.8B

Sources: Octopus Energy, Octopus Group, TechCrunch, Octopus Group (Simon Rogerson). US$ billions, linear scale.

Timeline

Each round and share sale, oldest first.

30 Apr 2020 · Closed
Origin Energy investment (20%): $300M led by Origin Energy.
23 Dec 2020 · Closed
Tokyo Gas investment: $250M at $2.1B led by Tokyo Gas.
27 Sep 2021 · Closed
Generation Investment Management investment: Up to about $655M at Up to $4.6B led by Generation Investment Management.
10 Dec 2021 · Closed
CPP Investments investment: $300M at About $5B led by CPP Investments.
18 Dec 2023 · Closed
Funding round (Dec 2023): $800M at $7.8B led by Existing shareholders.

Still private: Octopus Energy has not filed for an IPO. It was majority-owned by Octopus Group (private) at the 2020 Origin deal; Origin Energy (listed) holds 22.7%, a minority stake (Origin, 30 Dec 2025). Kraken spin-out: Kraken Technologies’ first standalone raise of US$1B at US$8.65B was announced on 30 Dec 2025 ahead of separation from Octopus; Kraken is now a separate company and its rounds are not counted here.

Cite this dataset

Free to quote with a link back. Copy this citation:

Octopus Energy Funding Rounds & Valuation History. Private Valuation & Funding Round Tracker, GrowthNavigateFunding.net, updated 13 Nov 2026. https://growthnavigatefunding.net/funding/octopus-energy/

Download the data

The same 5 rows as the table: numeric US$ columns, empty cells where a figure is not disclosed, and a source URL for every row.

File: octopus-energy-rounds.csv (UTF-8, comma-separated)
Stable URL: https://growthnavigatefunding.net/wp-content/uploads/2026/11/octopus-energy-rounds.csv
Columns: id, date, date_precision, status, transaction_type, round, amount_usd_low, amount_usd_high, lead_or_buyer, co_leads, valuation_usd_low, valuation_usd_high, valuation_basis, valuation_to_run_rate_multiple, multiple_bound, multiple_basis, step_up_vs_prior_closed, price_per_share_usd_low, price_per_share_usd_high, shares, source, source_url, other_source_urls, notes, last_updated
Updated: 13 Nov 2026 (IST)

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Methodology & status definitions

How each row is labelled and calculated.

Closed round

A primary round announced by the company or confirmed in the press, bringing new money to the company.

Valuation ÷ run-rate

Post-money valuation ÷ the run-rate the company stated in that announcement (GNF calc.). Where the run-rate is “crossed” or “over” a figure, the multiple is shown as “under X×”. No row qualifies here unless shown, so no multiple is invented.

What is not a separate row

Kraken Technologies’ own 2025–26 raise (a separate company after the spin-out); debt and asset-level funding such as the £550m Lloyds facility for Octopus Electric Vehicles; renewable fund capital managed by Octopus Energy Generation; acquisitions (Bulb, Shell Energy).

Updates & corrections

This page stays at one address and is updated in place; the “Last updated” date above drives the citation and the dataset metadata. Corrections: hello@growthnavigatefunding.net. Informational only; not investment advice.

Changelog

13 Nov 2026: Dataset first compiled (batch 4, not yet published).

Octopus Energy Funding Rounds & Valuation History (2020–2023)