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 12 months for Seedrs traders. Bristol-based Sennen has been acquired by Kraken Applied sciences, the fastest-growing software program supplier for utilities within the UK.
Seedrs traders 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 are redefining the way in which we eat power, handle waste, clear air, and apply good useful resource expertise.
A part of the Octopus Vitality Group, Kraken connects completely different parts of the renewable power system, from supply to operation. Their expertise automates a major quantity of the availability chain, together with buyer billing, which allows Kraken to supply a excessive degree of customer support that was beforehand remarkable within the power trade.
Additionally 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 allows Kraken to fulfill 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’s going to additionally mark a major step ahead as the corporate will now be managing off-shore wind farms.
Sustainable Ventures is presently 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 revolutionary startups, chosen for his or her potential to play an outsized function within the web zero transition whereas concurrently delivering sturdy monetary returns to traders.
You’ll find out extra about Sustainable Accelerator 7 .
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