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Odyssey Energy Solutions continues quest to electrify developing economies with $5.4M seed • TechCrunch


There have been many talks about renovating the grid in the US and in Europe, preparing for the tidal wave of intermittent renewables and instant rechargeable batteries. It is happening accordingly and begins, with the utilities themselves taking turns embracing and repelling the new, more distributed future. That has further complicated the mesh upgrade.

But in places where the grid is unreliable or nonexistent, where incumbent drags do not exist, potential disruptive devices are emerging. For many years, setting up electricity grids on islands or in remote territories was an expensive proposition because their relatively small size ran counter to the economies of scale of fossil fuels. Now, however, renewables are overturning the scenario.

However, even renewables benefit from economies of scale. Scale can be relatively easy to find in places like the US, where projects can be large and easily financed, but in the developing world it’s all more difficult. Odyssey Energy Solutions are hoping to change that.

In an exclusive with TechCrunch+, the startup today announced that it has raised $5.43 million in a seed round led by Equal Ventures with Twelve Below, Abstract Ventures, Founder Collective, and MCJ Collective participate. The new funds will go towards expanding its platform to enable the planning, financing, construction and operation of renewable energy projects in developing economies.



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