News
Odyssey Energy Solutions raises $74 million to finance distributed solar in emerging markets
Odyssey Energy Solutions has closed $74 million in equity and debt to grow the platform it uses to finance and supply distributed renewable energy projects across more than 50 countries.
By Propel Africa · 2026-09-01
Odyssey Energy Solutions has raised $74 million to expand its financing and procurement platform for distributed renewable energy, the company announced on 1 September. The package is made up of $27 million in equity and $47 million in debt.
The equity round brought in three new backers: Broadscale Group, FMO and Al Mada Ventures. They were joined by returning investors Union Square Ventures, Equal Ventures, Abstract Ventures, Twelve Below, FJ Labs, MCJ and Transition Ventures.
The debt side comes from a group of development finance lenders: British International Investment, BIO, the Facility for Energy Inclusion (represented by Cygnum Capital) and the Energy Entrepreneurs Growth Fund (represented by TripleJump).
What Odyssey does
Odyssey sits between the people who build small and mid-sized solar projects and the people who pay for them. Solar installers and engineering, procurement and construction firms use the platform to reach financiers and equipment suppliers. A procurement tool, launched in 2024, pools equipment orders so smaller developers get better supplier terms, and it offers credit across the supply chain.
The company says more than 6,000 installers and contractors now use the platform, which has helped them reach $3.6 billion in capital. The procurement tool alone has unlocked 1.5 GW of projects. Its business in India grew 205% over the past year.
Where the money goes
The new capital will expand the platform and its procurement offer, which pools equipment orders and provides embedded supply chain credit. Co-founder and chief executive Emily McAteer leads the company alongside co-founder and managing director Piyush Mathur. Odyssey is based in Boulder, Colorado, and works in more than 50 countries across Africa, Asia and Latin America.
The round takes Odyssey's total funding to $94 million, following a $15 million Series A in May 2023.
At a glance
- Company: Odyssey Energy Solutions
- Raised: $74 million ($27 million equity, $47 million debt)
- New equity investors: Broadscale Group, FMO, Al Mada Ventures
- Lenders: British International Investment, BIO, Facility for Energy Inclusion, Energy Entrepreneurs Growth Fund
- Based in: Boulder, Colorado
- Total raised to date: $94 million