Home Crowdfunding Exit Information: Sennen Acquired by Kraken Applied sciences

Exit Information: Sennen Acquired by Kraken Applied sciences

Exit Information: Sennen Acquired by Kraken Applied sciences


We’re delighted to share the information of one other exit from the Seedrs portfolio which occurred on the finish of 2023, making it the fifth exit of the yr for Seedrs buyers. Bristol-based Sennen has been acquired by Kraken Applied sciences, the fastest-growing software program supplier for utilities within the UK.

Seedrs buyers invested in Sennen through Sustainable Accelerator in 2018, which supplied a diversified portfolio of EIS/SEIS sustainable startups. Sustainable Ventures, who lead the programme, goals to empower the subsequent era of companies which might be redefining the way in which we eat power, handle waste, clear air, and apply good useful resource know-how.

A part of the Octopus Vitality Group, Kraken connects totally different components of the renewable power system, from supply to operation. Their know-how automates a major quantity of the availability chain, together with buyer billing, which permits Kraken to supply a excessive degree of customer support that was beforehand unparalleled within the power business.

In addition they flexibly handle renewable era and power gadgets, together with photo voltaic and wind era, electrical vehicles, batteries and warmth pumps. In the end, streamlining this course of permits Kraken to fulfill net-zero targets, drive innovation and assist effectivity. 

The acquisition of Sennen, a software program firm that makes use of cloud know-how to facilitate the deployment and operation of latest infrastructure within the clear power sector, will additional improve Kraken’s providing. Growing by six-fold, Kraken’s contracted power era will develop from 6.5GW to 36GW. It can additionally mark a major step ahead as the corporate will now be managing off-shore wind farms. 

Sustainable Ventures is at the moment elevating on Seedrs for Sustainable Accelerator 7, its seventh S/EIS portfolio. Their purpose is to take a position into 8-10 of the UK’s most progressive startups, chosen for his or her potential to play an outsized function within the web zero transition whereas concurrently delivering robust monetary returns to buyers.

Yow will discover out extra about Sustainable Accelerator 7 right here.

When you’d wish to be taught extra about investing on Seedrs, signal as much as obtain updates right here.

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