Kraken Technologies
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Octopus Energy Spins Off AI Unit Kraken Valued at $8.65 Billion
Kraken Technologies, Octopus Energy’s AI division, is spinning out into a standalone company valued at $8.65 billion after a $1 billion funding round. This move, expected by mid-2026, aims for a public listing and a shift towards software-focused investors. Origin Energy is also investing $140 million. Kraken, serving global utilities with its AI solutions, has seen its recurring revenue double, solidifying its position as a key player in energy tech.
