The Japanese electric power industry was deregulated back in April of 2016. Since then, tech giants like Softbank and Rakuten have set up their subsidiaries to enter the new power supply market. In European countries that allow consumers to choose the power source from multiple suppliers, an outstanding vertical from the startup space is probably the energy price comparison site.
Tokyo-based Enechange, the company offering an energy price comparison site under the same name, has announced that it has fundraised 500 million yen (about $4.4 million) from Opt Ventures and IMJ Investment Partners. This follows their 400 million yen (about $3.5 million) funding from Energy & Environment Investment as well as Hitachi (TSE:6501) back in February of 2016.
Since its launch back in April of 2015, Enechange has been offering a power supplier switchover service for enterprises as well as a SIM card comparison site for companies and consumers. In partnership with UK-based SMAP Energy, a smart meter-based data analytics startup born from Cambridge University, the company has also been offering consulting services to electric power companies in Japan.
Edited by “Tex” Pomeroy