Energy tech firm Origami has raised £20.5 million of new funding to drive its next phase of growth.
Banking giant Barclays has led the round as part of its Sustainable Impact Capital initiative with follow-on investment also provided by Origami’s existing shareholders including Octopus Ventures, Aggreko and Cambridge Innovation Capital.
It will use the investment boost to enhance the company’s trading and automation software products, allowing it to grow its customer base and scale up for international markets.
Peter Bance, CEO at Origami, said the investment recognises the need for real-time software solutions to underpin the emerging green energy system, tackle climate change and seize the “world's greatest commercial opportunity”.
Last year the technology provider launched a new machine learning software product to help enhance trading options for energy companies. This is able to provide energy companies with automated, live forecasts for power generation, demand and market prices using real-time data and machine learning software.
In February, Origami used its automation software to entered Gore Street Energy Storage Fund’s 9MW Port of Tilbury battery into Dynamic Containment (DC) services.
“It is becoming increasingly clear that powerful digital solutions, like Origami’s, are critical enablers for maximising the potential of green energy assets such as renewables, batteries, and EVs,” added Steven Poulter, head of principal structuring and investments at Barclays.