EnerBank Raises Series B Funding of JPY 820m
EnerBank, an energy tech company in the fields of renewable energy and decarbonization, has conducted a third-party allotment of new shares in its Series B round, with SMBC Venture Capital, Mizuho Capital, Mitsubishi UFJ Capital, and The Dai-ichi Life Insurance Company as new underwriters. This brings the total amount of Series B funding to 820 million yen, including the 580 million yen raised at the first close.
In this round, SMBC Venture Capital invested in EnerBank as part of its impact investment program, and EnerBank was recognized for the social impact of its goal to "create an energy platform that accelerates decarbonization for businesses and communities."
Key Points of This Procurement
- Series B round total raised 820 million yen (first closing 580 million yen + additional second closing)
- Three major megabank VCs and major life insurance companies participated (SMBC Venture Capital, Mitsubishi UFJ Capital, Mizuho Capital, and Dai-ichi Life Insurance)
- SMBC Venture Capital invests through impact investment
Background and Purpose of Procurement
Promoting GX (Green Transformation) among Japanese companies is an urgent priority, and in particular, optimizing power procurement and decarbonization are the most important themes facing many companies and local governments.
EnerBank's vision and mission is to "simplify energy procurement and contribute to the creation of new value for all humanity," and it is developing a business that simultaneously improves the transparency of power procurement and accelerates the use of renewable energy.
With this latest funding, EnerBank will strengthen investment in the following areas:
- Strengthening product development: Evolving into a compound energy data platform that integrates multiple products
- Strengthening GX support business: Expanding support menus for enterprises and government agencies; Expanding new businesses for charging capacity and solar power suppliers
- Strengthening personnel recruitment and organizational structure: Expanding recruitment in the areas of product development, sales to local governments, and enterprise sales; Accelerating partner alliances with financial institutions, trading companies, infrastructure companies, etc.
Business Growth Track Record
The social implementation of an electricity procurement platform that solves the procurement issues of electricity consumers in an integrated manner, centered around the electricity reverse auction "ENEOK," is rapidly progressing. In addition, "ENEPARK," which serves as the foundation for energy data across multiple services, will realize the optimization of electricity procurement for consumers.
Expanding power procurement digital transformation and renewable energy utilization support business to realize a decarbonized society. Focus investment on strengthening recruitment and systems for enterprises and local government collaboration models.
Norbert Gehrke
