Octopus Energy’s valuation has risen by 15% to $9 billion after two shareholders increased their stakes in the energy and technology group, it said on Tuesday.
Generation Investment Management has raised its stake to 13% and Canada Pension Plan Investment Board increased its stake to 12%.
Last month Octopus Energy overtook Centrica’s British Gas to become Britain’s largest domestic electricity supplier by customer numbers, having acquired Shell Energy late last year.
The investments will help to drive the company’s plans to extend its Kraken energy software technology into US markets, Octopus said.
Since launching eight years ago, Octopus has raised more than $2 billion from global investors and expanded into 18 countries, it said.
Reuters
