Bulb Energy on course for Unicorn valuation

Bulb Energy, a renewable energy supplier, has raised £60m in a round that has valued the company at £351m.

Considering that the company was incorporated four years ago and was valued at £50m in September 2017, this is a substantial level of growth.

It is interesting to draw comparisons with Deliveroo, the UK's best known unicorn startup. Deliveroo was valued at £47m in February 2015 and this increased to £313m in November 2015. It received a $1bn valuation roughly two years later, in September 2017. If Bulb was to follow the same pattern of growth it could reach unicorn status within the next two years.

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