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Cambridge greentech Origami raises £20M Series C funding from Barclays

Origami is a technology company based in Cambridge working on a mission to build a green energy world, powered by smart technology. In a recent development, the company raised £20.5 million in Series C funding to help drive its next phase of growth.

Funding from Barclays PLC

The investment round was led by Barclays PLC, which invested as part of their Sustainable Impact Capital initiative, set up to back companies that are focused on sustainability and driving the transition towards net zero. Also, Origami’s existing shareholders including Octopus Ventures, Aggreko, and Cambridge Innovation Capital took part in the round.

The proceeds of this round will let Origami enhance its products, serve a growing customer base and scale-up for international markets. The success of this funding round highlights the increasing investor appetite to back leading tech companies eyeing to reduce global carbon emissions.

Peter Bance, CEO, Origami, said: “This investment recognises that with powerful real-time software solutions underpinning our emerging green energy systems, tackling the world’s greatest threat of climate change can also become the world’s greatest commercial opportunity. Barclays shares our vision and has a broad customer base in the UK and internationally, which includes many energy businesses. I am looking forward to working with them to help achieve our ambitious goals.”

Steven Poulter, Head of Principal Structuring and Investments, Barclays, said: “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. Their technology is essential for a successful and timely transition to a low-carbon economy, and the opportunity for Barclays to partner with such a compelling business in the world-class Cambridge Greentech ecosystem is an exciting prospect.”

Real-time, smart technologies

Founded in 2013 and led by Peter Bance (CEO), Origami develops 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. It realises that as ambitious climate targets drive a transition to renewables, smart digital solutions are required to better manage our power grid as more and more renewable assets are added.

Powerful real-time solutions are critical to coordinate networks of renewables, flexible demand, and energy storage, to build a green energy system that is efficient, profitable, and sustainable for the long term. Origami’s trading and automation software provides power traders with real-time data and machine-learning decision support tools to reduce risk, improve visibility and capture valuable opportunities within new and rapidly evolving energy markets.

Origami provides software solutions through the Origami platform, to help energy companies thrive amid more complex and volatile energy markets. Energy companies use the platform to increase the value created from anything that uses, stores or generates electricity automatically, and in real-time. The platform brings together real-time data from physical assets and commercial markets to unlock new value, and accelerate our transition to a cleaner, more reliable and efficient global energy system.

The post Cambridge greentech Origami raises £20M Series C funding from Barclays appeared first on UKTN (UK Tech News).

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