The capital injection comes from a mix of new backers, including Broadscale Group, FMO, and Al Mada Ventures, alongside existing investors like Union Square Ventures. The company plans to scale its procurement platform, which currently connects over 6,000 engineering and construction firms with equipment suppliers and financiers. By aggregating equipment orders, Odyssey provides smaller developers access to volume pricing and supply chain credit, a necessity for firms often constrained by limited liquidity.
Odyssey Energy Solutions Secures $74 Million to Scale Clean Energy
Boulder-based Odyssey Energy Solutions has secured $74 million in new financing to expand its distributed renewable energy platform across Asia, Africa, and Latin America. The funding, split between $27 million in equity and $47 million in debt, aims to bridge the critical working capital gap facing smaller energy installers.
CEO Emily McAteer noted that the industry has historically fixated on post-construction capital, leaving a void for companies needing funds to initiate projects. Odyssey’s infrastructure currently facilitates access to $3.6 billion in capital and has already unlocked 1.5 GW of solar and storage projects. This expansion arrives as distributed solar becomes increasingly competitive against fossil fuels, driven by volatile diesel prices in markets like Nigeria and surging electricity demand from AI data centers in India, where Odyssey’s platform usage grew 205% over the past year.
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