Odyssey Energy Solutions, a platform focused on financing distributed renewable energy projects in emerging markets, has announced $74 million in new financing. The package includes a $27 million equity round and $47 million in debt to support expansion across Africa, Asia, and Latin America. The company connects a large network of installers and engineering firms with capital and equipment access.
A Financing Package Backed by Global Investors
The equity portion attracted new investors Broadscale Group, FMO, and Al Mada Ventures, alongside existing backers such as Union Square Ventures, Equal Ventures, Abstract Ventures, Twelve Below, FJ Labs, MCJ, and Transition Ventures. Debt financiers include British International Investment, BIO, the Facility for Energy Inclusion represented by Cygnum Capital, and the Energy Entrepreneurs Growth Fund represented by TripleJump. This combination signals broad institutional confidence in the distributed solar sector.
Closing the Working Capital Gap
According to Odyssey co-founder and CEO Emily McAteer, traditional financing has centered on post-construction capital, leaving small and medium contractors without the working capital needed to procure equipment and complete projects. Odyssey aims to bridge that gap by providing equipment pricing and financing before construction is finished. The company links more than 6,000 solar installers and engineering, procurement, and construction companies with financiers and equipment suppliers in over 50 countries.
Market Momentum Across Emerging Economies
Odyssey reports that falling solar and battery costs, rising oil prices, and changing government policies have strengthened the economics of distributed solar. In Nigeria, diesel prices rose more than 93 percent between February and April 2026 following supply disruptions, increasing demand for alternatives. In India, platform growth of 205 percent over the past year reflects new solar manufacturing requirements and rising electricity demand from data centers.
Expanding Procurement and Supply Chain Credit
The new capital will help scale Odyssey's procurement platform, launched in 2024, which aggregates equipment orders across smaller buyers and offers embedded supply chain credit. This approach enables installers with strong order books to procure and construct more projects at once despite working capital constraints. The platform has already unlocked 1.5 gigawatts of projects to date and facilitates access to $3.6 billion in capital for distributed energy projects.
Investor Perspectives on Sector Growth
Broadscale Group founder and Managing Partner Andrew Shapiro said distributed solar in emerging markets has reached a watershed moment because demand is strong, economics work, and access to capital remains the main constraint. Odyssey co-founder Piyush Mathur added that EPCs and distributed energy developers are growing at unprecedented rates, creating urgent need for procurement, financing, and technology infrastructure. Both investors emphasized that the company is positioned to enable large-scale deployment.
Building on Previous Growth
The announcement follows Odyssey's $15 million Series A in May 2023 and brings the company's total capital raised to $94 million. Odyssey is also among the inaugural portfolio partners of Multiplier, an advisory firm co-founded by former U.S. Department of Energy Loan Programs Office directors Jigar Shah and Jonathan Silver. This track record positions the company for further expansion in distributed energy finance.
With $74 million in fresh financing, Odyssey Energy Solutions is set to deepen its role as a key infrastructure provider for distributed renewable energy in emerging markets. The funding will enhance procurement, supply chain credit, and project delivery for thousands of installers. As demand for distributed solar accelerates, the company's platform may help unlock more of the $3.6 billion in capital it facilitates access to.