Odyssey Energy Solutions has raised $74 million in new financing to expand its distributed renewable energy financing and procurement platform across Africa, Asia and Latin America. The financing consists of a $27 million equity round and $47 million of debt. New equity investors include Broadscale Group, FMO and Al Mada Ventures, while Union Square Ventures, Equal Ventures, Abstract Ventures, Twelve Below, FJ Labs, MCJ and Transition Ventures participated again.
Debt providers include British International Investment, BIO, the Facility for Energy Inclusion represented by Cygnum Capital and the Energy Entrepreneurs Growth Fund represented by TripleJump.
Odyssey connects more than 6,000 distributed energy installers and engineering, procurement and construction companies with lenders and equipment suppliers across more than 50 countries.
The platform has facilitated access to approximately $3.6 billion of capital for distributed energy projects.
Its procurement marketplace, launched in 2024, aggregates equipment orders across smaller installers to improve purchasing economics and embeds supply-chain credit.
Odyssey said the procurement platform has unlocked approximately 1.5 GW of projects to date.
The company’s strategy addresses working-capital constraints that can prevent smaller installers from buying equipment and completing projects even when customer demand is already present.
Odyssey plans to use the new capital to expand procurement financing and enable EPCs to execute larger portions of their project pipelines simultaneously.
The opportunity is being reinforced by lower solar and battery costs, increased fuel prices and rapidly rising electricity demand.
In India, Odyssey’s platform has grown approximately 205% during the past 12 months, while AI data center construction is adding pressure to existing grid infrastructure.
The financing follows Odyssey’s $15 million Series A in 2023 and brings total capital raised to approximately $94 million.
The company is also an inaugural portfolio partner of Multiplier, the advisory firm co-founded by former U.S. Department of Energy Loan Programs Office directors Jigar Shah and Jonathan Silver.
KEY QUOTES:
“Odyssey bridges this gap directly, providing companies with the equipment pricing and financing they need to accelerate project delivery.”
Emily McAteer, Co-Founder And CEO Of Odyssey Energy Solutions
“The demand is there, the economics work, and the remaining constraint to deployment at massive scale is access to capital and procurement infrastructure for installers.”
Andrew Shapiro, Founder And Managing Partner Of Broadscale Group
