Japanese energy startup Enechain has raised $31.9 million to expand its presence in Japan's growing energy market. This is reported in a press release from Enechain.
The American investment companies Coreline Ventures and Soros Capital Management participated in the financing round.
The funds raised are planned to be used to modernize the eSquare online platform, which allows users to trade electricity and fuel in Japan, as well as to acquire shares in other energy companies and introduce AI tools into the trading platform.
The Japanese electricity market is attracting interest from local and foreign companies amid uncertainty about the restoration of nuclear power plants and the growing share of renewable energy sources.
Since its establishment in 2019, Enechain has expanded its product range and partnerships, including the creation of a joint venture with a major carbon credit exchange and Japanese megabank Sumitomo Mitsui Financial Group Inc.
Enechain is a Japanese energy startup founded in 2019. The company is engaged in brokerage operations in the Japanese energy market. The headquarters is located in Tokyo (Japan).
