Odyssey, a business-in-a-box software platform for distributed energy in emerging markets, has closed a $15 million Series A round led by Union Square Ventures, with participation from Equal Ventures, Twelve Below, Transition, Equator, MCJ Collective, Abstract Ventures, Founder Collective, and Climate Capital. The fresh funding will be used to develop Odyssey’s primary product offerings and enter new areas such as Latin America and Asia.
Odyssey is the only end-to-end platform designed to scale project development throughout the project lifecycle: planning, funding, procurement, and operations. Odyssey has $1.3 billion in financing available for distributed renewable energy projects, with funding from development finance institutions, donors, international and regional banks, infrastructure funds, and other types of capital providers.
Odyssey launched their procurement marketplace, Odyssey Procure, earlier this year in Nigeria, South Africa, and East Africa. Odyssey Procure provides renewable energy firms with a digitized, streamlined procurement system that enables lower pricing, equipment financing, and faster lead times.
Odyssey enables private and concessional financiers access projects that were previously out of reach by utilizing their network of over 2,000 renewable energy enterprises. The platform provides powerful software tools for project planning, portfolio management, and streamlined due diligence between developers and investors. Odyssey’s suite of remote monitoring and control hardware and software enables renewable energy companies to share asset performance data after projects are completed, guaranteeing that investors have complete visibility into investment outcomes.