Kraken

Octopus Energy Group is spinning out its technology arm Kraken in a landmark deal that values the business at $8.65 billion, following a $1 billion standalone investment round.

Summary of transaction details:

• Value: $8.65 billion
• Sector: Software & SaaS
• Advisor: Not disclosed
• Key Entities: Kraken, D1 Capital Partners, Octopus Energy Group
• Location: UK

Note: The deal marks a significant milestone for Kraken, which has grown into one of the world’s most advanced AI-powered operating systems for energy utilities, and is expected to have a major impact on the energy transition.