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 by way of 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 expertise.
A part of the Octopus Power Group, Kraken connects totally different parts of the renewable power system, from supply to operation. Their expertise automates a big quantity of the provision chain, together with buyer billing, which permits Kraken to supply a excessive stage of customer support that was beforehand exceptional within the power trade.
Additionally they flexibly handle renewable era and power units, together with photo voltaic and wind era, electrical vehicles, batteries and warmth pumps. Finally, streamlining this course of permits Kraken to satisfy net-zero targets, drive innovation and help effectivity.
The acquisition of Sennen, a software program firm that makes use of cloud expertise to facilitate the deployment and operation of recent 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 big step ahead as the corporate will now be managing off-shore wind farms.
Sustainable Ventures is at present elevating on Seedrs for Sustainable Accelerator 7, its seventh S/EIS portfolio. Their goal is to take a position into 8-10 of the UK’s most modern startups, chosen for his or her potential to play an outsized function within the internet zero transition whereas concurrently delivering sturdy monetary returns to buyers.
You could find out extra about Sustainable Accelerator 7 right here.
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