Kraken Technologies Valued at $8.65 Billion

Kraken Technologies, a software company that helps energy providers manage the switch to cleaner energy, is now worth $8.65 billion.

Origin Energy, which owns a part of Octopus Energy (a big electricity supplier in the UK), helped Kraken raise $1 billion from new and existing investors.

This money will help Kraken become its own company separate from Octopus Energy.

Origin Energy will keep a big stake in both Kraken and Octopus Energy.

Kraken's software helps energy providers offer better deals to customers and manage electricity flows as more people use renewable energy sources like solar panels and electric vehicles.