Otovo has closed a $7.25 million private placement in Norway, adding fresh capital as the Oslo-based energy services company expands through acquisitions.
The company said the proceeds will help fund its anticipated acquisition of Green Panel Solar Energy Systems Ltd., while also supporting working capital and continued investment in its Endurance AI platform. Otovo said the round brings its total financing raised over the past nine months to about $34 million.
Otovo operates across Europe and the United States, offering technology-enabled energy services that combine equipment monitoring, repair coordination, power supply, and grid participation. The financing follows a period of rapid expansion after the company’s December 2025 merger, as it continues to pursue acquisition opportunities in a fragmented energy services market.
The company said the proceeds will help fund its anticipated acquisition of Green Panel Solar Energy Systems Ltd., while also supporting working capital and continued investment in its Endurance AI platform. Otovo said the round brings its total financing raised over the past nine months to about $34 million.
Otovo operates across Europe and the United States, offering technology-enabled energy services that combine equipment monitoring, repair coordination, power supply, and grid participation. The financing follows a period of rapid expansion after the company’s December 2025 merger, as it continues to pursue acquisition opportunities in a fragmented energy services market.