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Cambridge-based Origami Energy scores £13.7m in Series A funding

Cambridge Origami Energy

Origami Energy, a Cambridge-based tech company, has closed a £13.7m Series A funding round.

The round, which comes after the closure of £4m seed funding round in 2014, drew support from Cambridge Innovation Capital, Octopus Ventures and two private individuals, together with a new investment from Fred Olsen related companies.

Origami Energy’s CEO, Peter Bance, spoke about his company’s raise: “The additional funding we’ve just raised will help fuel our next phase of growth as we transition from our current customer field trials to scalable deployment of our solution on a commercial basis.

“In addition to strong support from our existing shareholders, we are extremely pleased to welcome Fred Olsen related companies as a new investor. Their long history in the energy sector together with an increasingly large presence in distributed energy makes them a perfect partner for Origami Energy,” the CEO added.

Origami Energy has developed technology to monitor, communicate with and control a large distributed network of energy generating, energy using and energy storing assets connected to the electricity grid.

Victor Christou, CEO of Cambridge Innovation Capital, commented on his firm’s decision to invest: “Origami Energy has achieved much in the 18 months since our original investment. At a time when demands on the energy grid are intensifying we believe Origami’s ‘shaping’ approach to energy management is the next step towards the creation of a viable solution in an energy-constrained world. We are pleased to support the company in the next phase of its journey.”

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