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Residential solar platform Otovo has secured $7.25 million in a new private financing round, providing fresh capital to support its international expansion and continued investment in AI-powered energy management.
The funding will primarily be used to finance the planned acquisition of Green Panel Solar Energy Systems, Israel’s leading behind-the-meter energy services provider. If completed, the deal would significantly strengthen Otovo’s presence in both Europe and the Middle East while expanding its capabilities in residential solar, battery storage and EV charging.
The latest raise brings the company’s total funding to approximately $34 million over the past nine months, reflecting continued investor confidence in its growth strategy.
Beyond financing acquisitions, Otovo says part of the proceeds will support further development of Endurance® AI, its proprietary software platform designed to optimize distributed energy assets and improve the performance of residential solar and storage systems.
The financing follows an active period of expansion for the company, which has completed several acquisitions since its merger in late 2025. Otovo has been steadily building a broader energy services platform combining installation, operations and maintenance, battery storage and electric vehicle charging under a single technology-driven offering.
Chief Executive Officer John Berger said the new capital will allow the company to continue integrating acquired businesses while accelerating investment in AI technologies that differentiate its platform. He added that the company’s longer-term objective remains achieving positive operating cash flow while establishing itself as a leading provider of technology-enabled residential energy services.
Otovo first announced its intention to acquire Green Panel in June through a non-binding letter of intent valuing the Israeli company at $11 million. Green Panel operates Israel’s largest solar monitoring and control centre and would provide Otovo with a strong foothold in one of the region’s most established residential energy markets.
The proposed transaction would also expand Otovo’s geographic footprint into Israel and Hungary, reinforcing its ambition to build a pan-regional platform serving the growing demand for distributed energy solutions across Europe and the Middle East.
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