Calculus Capital invests £3m in Open Energy Markets

With the fresh capital, Open Energy Markets plans to strengthen its sales and software teams, expand its trading platform to include additional fuels and waste services, as well as enter the US market.

Calculus is currently investing from its Calculus Capital EIS Fund 16, which held a final close on £25m in June 2016. The early-stage and venture fund intends to invest a minimum of £500,000 in 8-12 companies over an investment period of 12-18 months, aiming to exit after three years.

Company
Founded in 2013 and based in Surbiton, London, Open Energy Markets is an online trading platform that enables companies to buy different energy products. Businesses provide details of their usage for major suppliers to submit bids for the contracts through a live reverse-auction process.

Customers include Dairy Crest, EasyJet, Southampton Football Club and London Business School.

People
Calculus Capital – Alexandra Lindsay (investment director).
Open Energy Market – Chris Maclean (CEO).

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