Octopus Energy, a global energy and technology group, has announced a new valuation of $9bn due to further commitments from existing investors, NS Energy. The deal increases the global energy group’s valuation by 15% to $9 billion (£7.2bn), bringing the company’s total to $10bn. The move comes as existing shareholders Generation Investment Management and Canada Pension Plan Investment Board (CPP Investments) increase their stakes in the business. The investment will increase Octopus Energy’s profile in the US and support its plans to extend its Kraken technology into American markets. The company’s founder, Greg Jackson, said the move was a step forward and opened up new opportunities for international expansion. Since launching eight years ago, Octopus has raised over $2bn and expanded into 18 countries.
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