About Otovo
Otovo is a company based in Oslo (Norway) founded in 2016 by Simen Fure Jorgensen and Andreas Thorsheim. It operates as a Two-Sided Marketplace. The company has 149 employees as of December 31, 2021. Otovo offers products and services including Solar Panels and Home Batteries. Otovo operates in a competitive market with competitors including Hanwha, Pennar, GCL Technology Holdings, Astronergy and Mona Lee, among others.
- Headquarter Oslo, Norway
- Employees 149 as on 31 Dec, 2021
- Founders Simen Fure Jorgensen, Andreas Thorsheim
- Stage Public
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Sectors
Energy & Utilities
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Phone
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Website
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Social
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Annual Revenue
$103.59 M (USD)68as on Dec 31, 2023
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Net Profit
-$36.48 M (USD)-24as on Dec 31, 2023
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EBITDA
-$36.96 M (USD)-22as on Dec 31, 2023
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Latest Funding Round
$13.99 M (USD), Post-IPO
Mar 02, 2026
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Investors
KLP
& 4 more
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Employee Count
149
as on Dec 31, 2021
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Products & Services of Otovo
Otovo offers a comprehensive portfolio of products and services, including Solar Panels and Home Batteries.
Solar panels are provided for residential energy solutions.
Home batteries are offered for energy storage needs.
Funding Insights of Otovo
Investors in Otovo
Otovo has secured backing from 5 investors, including institutional and venture fund investors. Prominent investors backing the company include KLP, Akershus Energi and A Energi.
| Investor | Description | Founded Year | Domain | Location |
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A diversified group of companies is owned and operated by Axel Johnson Inc.
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Provides renewable energy production and services for private and business customers.
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Offers long-term investments in projects that reduce emissions and promote green shifts.
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Investor details for Otovo
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Investments & Acquisitions by Otovo
Investment portfolio details for Otovo
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Financial Statements - Otovo
Detailed financials for Otovo
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Otovo Comparisons
Peer comparison for Otovo
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Competitors of Otovo
Otovo operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Hanwha, Pennar, GCL Technology Holdings, Astronergy and Mona Lee, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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Manufacturer of solar cells, modules, and other related components
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Precision-engineered products and building solutions are manufactured.
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Poly silicon and wafer products are manufactured by the company.
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Solar PV modules are manufactured by Astronergy in Haining, China.
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Solar photovoltaic modules are supplied for energy applications.
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Detailed competitors of Otovo
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Latest news on Otovo
Complete news archive for Otovo
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Frequently Asked Questions about Otovo
Otovo was founded in 2016 and raised its 1st funding round 6 years after it was founded.
Otovo is headquartered in Oslo, Norway. It is registered at Oslo, Oslo, Norway.
Andreas Thorsheim is the current CEO of Otovo. They have also founded this company.
As of Dec 31, 2021, the latest employee count at Otovo is 149.
Annual revenue of Otovo is $103.59M as on Dec 31, 2023.
Otovo is established as a prominent marketplace for residential solar energy across Europe. The company connects homeowners with a network of vetted local energy installers. Proprietary technology is utilized to analyze home potential and provide instant project offers. Operating in multiple European countries, thousands of solar projects have been sold and completed. Sectors served include renewable energy with a focus on solar solutions and energy storage through home batteries. The mission is centered on promoting local and clean energy in neighborhoods.
Otovo's top competitors include Pennar, SINTEF and Astronergy.
Otovo offers Solar Panels and Home Batteries.
Otovo has 5 investors. Key investors include KLP, Akershus Energi, A Energi, Axel Johnson, and Nysno.