Britain's Octopus Energy said on Monday that it will split its technology division Kraken into an independent company with a valuation of $8.65 billion after a round of funding led by US investment firm D1 Capital Partners. Kraken provides energy software to large utility companies and energy groups including EDF, US National Grid, and Tokyo Gas. Investors new and old will be buying approximately $10 billion in shares in Kraken. Investors led by Octopus Capital will also invest an additional $320 million in Octopus Energy, the company said in a statement. The UK's largest household gas and electricity provider said in a statement that investors participating in this funding round include the Ontario Teacher Pension Plan, Fidelity International, and Durable Capital Partners.

Britain's Octopus Energy said on Monday that it will split its technology division Kraken into an independent company with a valuation of $8.65 billion after a round of funding led by US investment firm D1 Capital Partners. Kraken provides energy software to large utility companies and energy groups including EDF, US National Grid, and Tokyo Gas. Investors new and old will be buying approximately $10 billion in shares in Kraken. Investors led by Octopus Capital will also invest an additional $320 million in Octopus Energy, the company said in a statement. The UK's largest household gas and electricity provider said in a statement that investors participating in this funding round include the Ontario Teacher Pension Plan, Fidelity International, and Durable Capital Partners.