Octopus backs £18.6m series-B for Origami Energy

The round was led by listed energy company Aggreko. Cambridge Innovation Capital (CIC) and companies related to the Fred Olsen renewable energy group also took part in the financing.

The fresh capital will allow the company to seek strategic technology partnerships with energy companies, and accelerate its growth in the UK in preparation for international deployment.

Previous funding
CIC led a £4m seed round for Origami in August 2013. Octopus and two angel investors also took part in the round.

Renewable energy group Fred Olsen joined the syndicate in April 2016 to provide the company with a £13.7m series-A funding round.

Company
Founded in 2013 and headquartered in Cambridge, Origami is a software and hardware company that monitors and manages the flow of energy across the electricity grid. Its systems are intended to reduce carbon emissions and enable more renewable energy sources to be integrated into the grid.

People
Octopus Ventures – Simon King (investment manager).
Cambridge Innovation Capital – Andrew Williamson (investment director).
Origami Energy – Peter Bance (CEO).

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