venture capital

enechain Secures ¥5.05 Billion in Series B Extension as Trading Volume Tops ¥3 Trillion; Eyes Aggressive AI and M&A Strategy

Norbert Gehrke

02 Feb 2026 — 3 min read

enechain Corporation has successfully closed its Series B extension round, raising a total of ¥5.05 billion. The financing was structured through a combination of third-party private placement and additional long-term debt financing (including refinancing) from multiple major banks.

Coreline Ventures returned as the lead investor for this round. The capital injection also saw support from major financial partners, including joint venture backing from MUFG Bank and Sumitomo Mitsui Banking Corporation (SMBC). According to enechain, this latest round brings the group’s cumulative funding to a scale of tens of billions of yen, solidifying a "rock-solid" business foundation.

Operational Milestones and Growth

The funding follows a period of rapid expansion for enechain. Since its initial Series B close in April 2024, the company’s cumulative gross merchandise value (GMV) for wholesale electricity has surpassed ¥3 trillion. Notably, screen trading volume via its "eSquare Live" platform—which facilitates intuitive and rapid transactions—has achieved a staggering 25-fold growth year-over-year.

The company’s strategic joint ventures have also gained traction. "eClear," a clearing/settlement entity established with MUFG Bank to mitigate credit risk, and "eXstend," a fuel hedging entity formed with SMBC Group, are both reportedly operating smoothly, providing essential stability to market participants.

Strategic Allocation of Capital

enechain has outlined three primary directives for the newly raised capital, aiming to bolster its role as a critical infrastructure provider for the energy sector:

Platform Expansion: Over the next three years, the company plans to consolidate energy-related products—such as environmental values and data—onto the eSquare Live platform, upgrading the UI/UX and infrastructure reliability to global standards.
AI Implementation: The company will establish an "AI Lab" to research and implement advanced technologies, focusing on price forecasting via trade data analysis and the automation of transaction processes.
Security Infrastructure: Significant investment will be directed toward cybersecurity to protect the marketplace, which enechain views as a vital component of national energy security.

Furthermore, the company indicated a shift toward inorganic growth, stating it will actively consider M&A opportunities in peripheral areas to accelerate digital transformation (DX) across the energy industry.

Executive Commentary

Ryo Nozawa, Representative Director of enechain, stated: "We are deeply grateful to Coreline Ventures and all our investors. With this capital increase, our capital stock has reached approximately ¥10 billion, marking a significant milestone. Secured by this strong financial base, we intend to take bold measures, including M&A, to achieve non-linear growth. We are committed to revolutionizing the market by doubling down on AI investment and sticking to our screen trading strategy, which is the key to scalability."

Kenichiro Hara, Co-Founder and General Partner, Coreline Ventures, added: "This marks our third consecutive lead investment in enechain since before their spin-out. Mr. Nozawa has steadily established the systems, regulations, and liquidity necessary to realize a 'fair and transparent exchange.' As energy security issues have surfaced over the past few years, the importance of a stable, low-cost power supply has grown. We believe enechain’s role in this ecosystem is expanding rapidly."