Otovo Secures $16.6-Million Private Placement to Fund EnergyAid Acquisition

Otovo, an artificial intelligence (AI)-native energy service provider for residential and commercial customers, announced the successful completion of a private placement raising about $16.6 million through the issuance of about 14.0 million new shares. The financing included participation from new and existing investors, including Encompass Capital Advisors LLC, acting for certain fund entities and managed accounts for which Encompass exercises investment discretion, Franklin Templeton, and Electron. The ...