Kraken, a London, UK-based technology company, has raised $1 billion in an investment round, valuing the company at $8.65 billion as it formally begins its journey as an independent business.
Investors
The round was led by global investment firm D1 Capital Partners, with participation from Ontario Teachers’ Pension Plan Board (via Teachers’ Venture Growth), Fidelity International, and Durable Capital Partners.
D1 Capital Partners is an American investment firm headquartered in New York City. It invests across both public and private markets. Founded in 2018, D1 focuses on sectors such as technology, consumer, healthcare, and financial services, with a global investment footprint.
Kraken Use of Funds
The capital raised will be used to accelerate Kraken’s global expansion, deepen partnerships with utilities, and further invest in product development as the company scales as a neutral, independent technology platform.
About Kraken
Originally incubated within Octopus Energy Group and led by CEO Amir Orad, Kraken is a global technology platform designed for the utility sector. It provides an AI-powered, cloud-native platform that serves as an end-to-end operating system for utilities. Kraken supports more than 70 million accounts worldwide, spanning households, businesses, and large industrial customers, and manages everything from automated billing and customer service to the orchestration of large-scale renewable energy assets such as EVs and heat pumps. Headquartered in London, United Kingdom, Kraken serves major utilities including EDF Energy, E.ON Next, Octopus Energy, Origin, Plenitude, Portsmouth Water, National Grid, and Tokyo Gas.
Funding Details
Company: Kraken
Raised: $1,000.0M
Round: Growth Round
Funding Date: December 2025
Lead Investor: D1 Capital Partners
Additional Investors: Ontario Teachers’ Pension Plan Board, Fidelity International, Durable Capital Partners
Company Website: https://kraken.tech
Software Category: Energy Technology / Utility Operating System
Source: https://kraken.tech/press-releases/octopus-energy-group-to-spin-out-kraken-at-valuation-of-8-65bn