About OVO Energy
OVO Energy is a company based in Bristol (United Kingdom) founded in 2009 was acquired by GLIL in May 2021.. OVO Energy has raised $515.61 million across 4 funding rounds from investors including Morgan Stanley, Gov.uk and Mitsubishi Corporation. OVO Energy has completed 7 acquisitions, including Bonnet, ChargedEV and Corgi Homeplan. OVO Energy offers products and services including Energy Tariffs, Smart Meters, Solar Panels, and EV Chargers. OVO Energy operates in a competitive market with competitors including Octopus Energy, Hometree, EDF Energy, Thermondo and Ostrom, among others.
- Headquarter Bristol, United Kingdom
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Sectors
Energy & Utilities
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Ovo Energy Ltd
- Date of Incorporation 29 Apr, 2009
- Jurisdiction BRISTOL
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$515.61 M (USD)
in 4 rounds
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Latest Funding Round
$257.92 M (USD), Series D
Jul 21, 2023
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Investors
Morgan Stanley
& 5 more
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Employee Count
Employee Count
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Investments & Acquisitions
Bonnet
& 6 more
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Acquired by
GLIL
(May 04, 2021)
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Products & Services of OVO Energy
OVO Energy offers a comprehensive portfolio of products and services, including Energy Tariffs, Smart Meters, Solar Panels, and EV Chargers. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Services for switching and managing gas and electricity bills.
Devices to track and optimize household energy usage.
Installations for generating home solar power.
Systems for electric vehicle home charging.
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Software Development Team
85 people
Data Analysis and Operations Team
42 people
Senior Team
36 people
Operations Team
30 people
Head Team
23 people
Sales and Marketing
20 people
Finance and Accounting
19 people
Leadership Team
17 people
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Funding Insights of OVO Energy
OVO Energy has successfully raised a total of $515.61M across 4 strategic funding rounds. The most recent funding activity was a Series D round of $257.92 million completed in July 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Series D — $257.9M
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First Round
First Round
(21 Dec 2018)
- Investors Count 4
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2023 | Amount | Series D - OVO Energy | Valuation |
investors |
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| Jun, 2020 | Amount | Grant - OVO Energy | Valuation |
investors |
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| Feb, 2019 | Amount | Series C - OVO Energy | Valuation | Mitsubishi Corporation |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in OVO Energy
OVO Energy has secured backing from 6 investors, including institutional and venture fund investors. Prominent investors backing the company include Morgan Stanley, Gov.uk and Mitsubishi Corporation. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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UK private equity investments are managed by Mayfair firm.
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Founded Year | Domain | Location | |
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Wealth management, investment advisory, and financial services are provided.
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Founded Year | Domain | Location | |
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Natural gas and petroleum are distributed and traded globally.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by OVO Energy
OVO Energy has strategically engaged in corporate development activities, having acquired 7 companies. Notable acquisitions include Bonnet, ChargedEV and Corgi Homeplan. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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EV charging app for electric car charging
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2019 | ||||
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Electric vehicle charging equipment is designed, manufactured, and installed.
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2015 | ||||
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Boiler cover and replacement services are provided across the UK.
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2011 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - OVO Energy
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Ovo Energy Comparisons
Competitors of OVO Energy
OVO Energy 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 Octopus Energy, Hometree, EDF Energy, Thermondo and Ostrom, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Utility bill management platform is provided for tracking and billing.
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| domain | founded_year | HQ Location |
Provider of an online platform for home insurance
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| domain | founded_year | HQ Location |
Electric utility company
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| domain | founded_year | HQ Location |
Energy-efficient heating systems are installed in single-family homes.
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| domain | founded_year | HQ Location |
Solar-powered electricity is delivered via an app-based platform.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Ovo Energy
Frequently Asked Questions about OVO Energy
When was OVO Energy founded?
OVO Energy was founded in 2009 and raised its 1st funding round 9 years after it was founded.
Where is OVO Energy located?
OVO Energy is headquartered in Bristol, United Kingdom. It is registered at Bristol, England, United Kingdom.
Is OVO Energy a funded company?
OVO Energy is a funded company, having raised a total of $515.61M across 4 funding rounds to date. The company's 1st funding round was a Series C of $257.69M, raised on Dec 21, 2018.
What does OVO Energy do?
App-based power supplier from renewable energy sources. Users can create needs to log in to the website and select the kind of services required. Supplies electric power, biogas, and charging bundles for electric vehicles. Provides a vehicle module through which power stored in vehicles can be supplied to grid networks and can be controlled through the mobile application. Also provides heaters, energy storage systems, and smart electric meters. Customers can request a quote and pay the bill online. Its app is available for Android and iOS devices.
Who are the top competitors of OVO Energy?
OVO Energy's top competitors include Octopus Energy, Ostrom and Hometree.
What products or services does OVO Energy offer?
OVO Energy offers Energy Tariffs, Smart Meters, Solar Panels, and EV Chargers.
How many acquisitions has OVO Energy made?
OVO Energy has made 7 acquisitions, including Bonnet, ChargedEV, and Corgi Homeplan.
Who are OVO Energy's investors?
OVO Energy has 6 investors. Key investors include Morgan Stanley, Gov.uk, Mitsubishi Corporation, GLIL, and Mayfair Equity.