Origami Energy, a UK-based energy distribution software developer, has raised £20m ($28.5m) in a funding round led by financial services firm Barclays’ Sustainable Impact Capital vehicle.
Power generation equipment producer Aggreko, patient capital fund Cambridge Innovation Capital (CIC) and investment firm Octopus Ventures also participated in the round.
Founded in 2013, Origami has created a cloud-based software platform that automatically optimises energy generation, trading and consumption in real time.
The company aims to facilitate the move to renewable energy assets, which tend to be more distributed, complex and volatile than traditional power stations. The funding has been allocated to further developing its products, meeting client demand and expanding internationally.
Aggreko, Octopus Ventures and CIC had joined shipping group Fred Olsen in a $26.3m series B round for Origami in 2018. It had secured $19.3m in 2016 from companies related to Fred.Olsen as well as existing backers CIC and Octopus Ventures, taking its total funding to $25.7m.
The original version of this article appeared on our sister site, Global University Venturing.
