Otovo

A marketplace organizing a network of local, high quality energy installers that we have vetted thoroughly.

Launch date

Jan 2016

Employees

Market cap

Enterprise valuation

(CAD5m) (Public information from Sep 2024)

Company register number 915501680

Oslo Norway (HQ)

https://www.otovo.com/

https://twitter.com/otovosolar https://www.facebook.com/otovosolar https://www.linkedin.com/company/otovo/https://apps.apple.com/app/id1277050335 https://play.google.com/store/apps/details?id=com.otovo.app

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Revenues, earnings & profits over time

NOK	2020	2021	2022	2023	2024	2025	2026
Revenues	152m	289m	638m	1.0b	680m	954m	1.4b
% growth	(22 %)	90 %	120 %	59 %	(33 %)	40 %	48 %
EBITDA	(81.9m)	(156m)	(251m)	(309m)	(321m)	(271m)	(110m)
% EBITDA margin	(54 %)	(54 %)	(39 %)	(31 %)	(47 %)	(28 %)	(8 %)
Profit	(101m)	(154m)	(309m)	(385m)	(403m)	(395m)	(245m)
% profit margin	(67 %)	(53 %)	(49 %)	(38 %)	(59 %)	(41 %)	(17 %)
EV / revenue	-	11.2x	4.3x	0.6x	0.8x	0.8x	0.9x
EV / EBITDA	-	-20.7x	-10.8x	-1.9x	-1.7x	-2.9x	-11.9x

Source: Dealroom estimates

Date	Investors	Amount	Round
-	Nordic Impact TRK Group StartupLab Agder Energi Skyfall Ventures Farmhouse Capital Eilert Hanoa Geir Forre Jon von Tetzchner	N/A	-
Feb 2016	N/A	€850k	Seed
Sep 2016*	Agder Energi Venture	€2.3m Valuation: €8.0m	Series A
Jul 2017*	Akershus Energi OBOS	€6.6m	Early VC
Oct 2018*	Nysnø Climate Investments KLP	€10.0m	Early VC
Dec 2019	Axel Johnson D-Ax	$16.3m	Late VC
Feb 2021	N/A	N/A	IPO
Feb 2021	BNP Paribas DNB Kvantia	NOK250m	Private Placement VC
Feb 2022*	N/A	€30.0m	Post IPO Equity
Jan 2023*	SpareBank 1 DNB	€100m	Post IPO Debt
Nov 2023*	Å Energi	NOK450m	Private Placement VC
Total Funding		CAD167m

Tech stackLearn more about the technologies and tools that this company uses.

ACQUISITION by Otovo Sep 2018

In Sun We Trust

ACQUISITION by Otovo Mar 2019