Startup Company Enechain Raises $32 Million to Improve Business and Online Trading Platform

Japan based startup company Enechain has raised nearly $32 million to support business expansion.

Enechain, a startup and a developing power market in japan, has raised 5.05 billion yen ($31.9 million) to elevate its business and expand the company's online trading platform. The funds will be used primarily to strengthen eSquare, the company's online trading platform for Japanese electricity and fuel products. Enechain also plans to include artificial intelligence techniques into its trading platform to improve operations and customer experience.

Enechain operates the largest energy marketplace in Japan that includes electricity, fuels, and environmental commodities. By creating fair markets where anyone can trade any kind of energy worth, they hope to create "Social Good".

According to Enechain, the funding for their business was majorly led by Coreline Ventures (an early-stage Venture Capital firm) along with other investors such as US-based Soros Capital Management.

Japan's electricity market, which was liberalized nearly ten years ago, has consistently attracted attention from both domestic and foreign companies as price fluctuations are worsened by harsh weather, uncertainty around nuclear restarts, and the rising proportion of renewable energy.

In April 2024, the company raised around ¥6 billion through additional borrowing and a Series B investment round. A wide range of investors, including financial backers and key players in the energy ecosystem, participated in that previous round, indicating interest in platforms that can enhance execution, liquidity, and transparency in the power and environmental markets.

Beyond energy, enechain has expanded its activities in the environmental commodities market, where Japanese corporations are under increasing demand to document decarbonization pathways and manage credit and certificate acquisition. The company has mentioned partnerships that aim to connect Japanese demand with larger international pools of environmental products, with a focus on enhancing market access and standards for local purchasers.