Kraken acquires German tech startup Kwest to ‘supercharge green home energy’
Image credit: Kwest
Kraken, the tech arm of global energy and technology group Octopus Energy, has announced the acquisition of German tech start-up Kwest.
Kraken says adding Kwest’s leading workflow platform to its tech stack will unlock smoother installations of clean technologies such as heat pumps and smart meters across Germany, the UK and Octopus’ other markets, significantly increasing operational efficiency.
The move will see Kwest’s seven-strong team join Kraken. It will also result in Kraken opening its first development hub in Berlin.
Kwest was founded by Robin Dechant, Marco Holst and Constantin Ehrensberger, and backed by investors including SpeedInvest. Its software platform enables energy installation businesses to streamline and automate operational processes at a fraction of the time of traditional solutions.
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Germany is now Octopus Energy’s second largest market, with its Octopus Energy brand supplying 300,000 households across the country following the acquisition of Shell Energy Retail.
Octopus was recently recognized by Focus Money as the energy company with the best customer service in Germany.
Greg Jackson, CEO of Octopus Energy commented, said “with Kwest’s team and platform added to the stack we will now be able to supercharge the installation of clean, green home energy tech across the world”.
Kwest founder Robin Dechant said: “By merging our efforts with Kraken’s innovative approach, we can speed up the energy transition on a global scale.”
