Distributed Renewable Energy Company Odyssey Raises $5.34 Million

By Annie Baker ● Sep 14, 2022
  • Odyssey Energy Solutions recently announced it raised $5.34 million. These are the details.

Odyssey Energy Solutions recently announced it raised $5.34 million. 

Funding amount: $5.34 million

Investors: Led by Equal Ventures and participating investors included Twelve Below, Abstract Ventures, Founder Collective, and MCJ Collective.

What does Odyssey do: Odyssey enables developers to plan, finance, build, and operate DRE projects at scale with its freemium business-in-a-box platform, democratizing access to leading-edge technology, better financing, and lower-cost equipment procurement. 

What the funding will be used for: The new funding will be used to launch new financial products for DRE in emerging markets aimed at infusing more private capital into the markets, scale Odyssey’s aggregated procurement platform and advance remote monitoring, control, and analytics technologies for a wide array of asset types.
Metrics: Odyssey is currently catalyzing more than $1 billion of finance into the DRE sector, with more than 1,500 companies using the platform across five continents.

KEY QUOTES:

“The DRE market is fragmented, lacking the data and standardization required for large-scale investments. By solving for core frictions in one platform, our solution provides the tools to build investable portfolios and truly unlock scale.”

— Emily McAteer, CEO, Odyssey Energy Solutions

“We see the energy transition as one of the greatest (and most challenging) opportunities of our lifetime. Emerging markets represent one of the most economically and environmentally impactful areas to address the challenges, but have thus far been hindered by access to technology and capital. We are thrilled to partner with this first-class team to accelerate the global energy transition in a way that no one else has done before.”

— Rick Zullo, general partner, Equal Ventures