Octopus Energy Plans to Spin Off AI Arm to Create Software Platform

British renewable-energy startup Octopus Energy is spinning off its artificial intelligence arm, Kraken, in what could create a standalone entity worth $15 billion.

- BY YUSUF KHAN

Kraken has operated in Octopus's shadow but has helped power its parent to unicorn status as the startup provides renewable energy to British and European consumers. Based on its last funding round in 2024, Octopus was valued at more than $9 billi