Kraken

Kraken builds an AI-powered, cloud-based operating system for utilities, covering energy, water and telecommunications. The platform manages customer accounts, product innovation, data processing and large-scale customer migrations on a single stack, and also optimises distributed energy assets. It originated within Octopus Energy Group and is now spinning off as an independent company. Utilities using the system include EDF and E.ON Next in Europe, Origin Energy in Australia and Tokyo Gas in Japan.

Its scale is substantial. The Kraken Platform is contracted to serve more than 70m customer accounts across 30 countries and processes 15bn data points a day. The company reports $500m in committed annual revenue, quadrupled over three years, alongside a 40% reduction in cost to serve and a threefold increase in product innovation. Migration work is a particular specialty: more than 40 large-scale migrations have been delivered on time and on budget, the fastest moving 1.6m customers in 51 days.

The Kraken Virtual Power Plant manages distributed energy assets including electric vehicles, home batteries and heat pumps, dispatching over 2GW of power across more than 400,000 connected devices. Technical work spans machine learning, cloud platform architecture, energy optimisation, virtual power plant operations, data analytics and customer management systems. The company states an ambition to serve a billion people over the next decade.