US renewables-focused investment and asset management platform Odyssey Energy Solutions Inc has closed a USD-15-million (EUR 13.8m) financing round led by Union Square Ventures with plans to use the fresh capital to bolster its product offerings and geographic footprint.
The Series A round also attracted participation from Equal Ventures, Twelve Below, Transition, Equator, MCJ Collective, Abstract Ventures, Founder Collective and Climate Capital, a press release said on Monday.
Apart from investing in the expansion of its key product offerings, the Boulder, Colorado-based firm will use the funds to enter new markets, including Latin America and Asia.
Odyssey offers a platform designed to facilitate every stage of the realisation of a distributed renewable energy project, including financing, construction and operation. It provides tools for project planning, streamlining diligence between developers and investors, and remote monitoring, among others.
Odyssey’s platform includes more than 2,000 companies and has more than USD 1.3 billion of available financing for renewable energy projects. Its solutions are deployed in more than 50 countries
The Series A fund-raiser follows a USD-5.34-million seed round closed by Odyssey in September 2022. The US firm a year earlier expanded its business through the acquisition of Ferntech GmbH, a German company specialising in the remote control and monitoring of off-grid renewable energy systems.
(USD 1 = EUR 0.925)
Choose your newsletter by Renewables Now. Join for free!
