Odyssey Energy Solutions raises $74M for distributed solar financing in emerging markets
Boulder-based Odyssey Energy Solutions raised $74M on 1 September 2026 to scale distributed solar financing and procurement across Africa, Asia and Latin America.
Photo by Trinh Trần on Pexels
Odyssey Energy Solutions, a Boulder, Colorado-based platform connecting solar installers with financing and equipment, closed a $74 million round on 1 September 2026 to expand distributed solar financing across Africa, Asia and Latin America. The round splits into $27 million in equity and $47 million in debt, the company said, and follows a $15 million Series A the company announced in May 2023.
What the platform does
Odyssey’s platform links more than 6,000 solar installers and engineering, procurement and construction (EPC) firms across more than 50 countries with financiers and bulk equipment suppliers, aiming to solve two problems at once for distributed solar projects in developing markets: access to project financing and access to affordable hardware. The company says it has facilitated $3.6 billion in capital and unlocked 1.5 gigawatts of distributed renewable energy projects to date. Odyssey’s platform volume in India grew 205% over the past 12 months, the company said, without specifying an absolute figure for that growth.
Who is funding the round
New equity investors Broadscale Group, FMO (the Dutch entrepreneurial development bank) and Al Mada Ventures joined existing investors Union Square Ventures, Equal Ventures, Abstract Ventures, Twelve Below, FJ Labs, MCJ and Transition Ventures. The debt portion came from British International Investment, Belgium’s BIO, the Facility for Energy Inclusion (represented by Cygnum Capital) and the Energy Entrepreneurs Growth Fund (represented by TripleJump). Broadscale Group’s Andrew Shapiro said the mixed debt-and-equity structure reflects the blended finance needed to reach smaller, distributed solar projects that traditional project finance often skips. Odyssey is an inaugural portfolio partner of Multiplier, the clean-energy advisory firm co-founded by Jigar Shah and Jonathan Silver.
| Metric | Figure |
|---|---|
| Total raised (1 September 2026) | $74 million ($27M equity, $47M debt) |
| Prior funding | $15 million Series A, May 2023 |
| Total raised to date | $94 million |
| Installers/EPCs on platform | 6,000+ |
| Countries covered | 50+ |
| Capital facilitated to date | $3.6 billion |
| Renewable capacity unlocked to date | 1.5 GW |
| India platform volume growth | +205% over the past 12 months |
Source: Odyssey Energy Solutions and ImpactAlpha, 1 September 2026.
Context for emerging-market solar finance
The raise lands amid a broader run of capital into emerging-market renewable energy. Renewable energy investment hits $327.5bn in first half covers BloombergNEF’s tracking of global renewable investment, including emerging-market flows, in the first half of 2026. CIP closes Growth Markets Fund II at USD 3 billion covers a separate, larger institutional fund targeting greenfield renewable infrastructure in similar high-growth markets, illustrating that both large infrastructure funds and smaller-project platforms like Odyssey are competing for the same underlying demand for distributed solar in Africa, Asia and Latin America.
Background
Odyssey Energy Solutions launched its bulk equipment procurement platform in 2024, building on an earlier business connecting solar developers with project financing in emerging markets. The company raised a $15 million Series A in May 2023 before this $74 million round brought its total funding to $94 million. Co-founders Emily McAteer, chief executive, and Piyush Mathur, managing director, have positioned the platform around a persistent gap in distributed solar finance: individual projects in Africa, Asia and Latin America are often too small for traditional project finance but too numerous and geographically dispersed for one-off deal-making. The new capital is intended to let Odyssey extend that model further into markets such as India, where the company reports its fastest recent growth.
Sources: PR Newswire (Odyssey Energy Solutions); ImpactAlpha
Featured image: photo by Trinh Trần on Pexels (free Pexels license).
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I specialize in sustainability education, curriculum co-creation, and early-stage project strategy. At WINSS, I craft articles on sustainability, transformative AI, and related topics. When I’m not writing, you’ll find me chasing the perfect sushi roll, exploring cities around the globe, or unwinding with my dog Puffy — the world’s most loyal sidekick.
