Solar power marketplace gets $2M in funding to help more people go green
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Photo Credit: Mike Baker / Creative Commons

IACC’s marketplace, Green Energy Navi, purports to be the largest of its kind in Japan

Tech in Asia

A Japanese startup that runs a consumer-focused marketplace for solar energy has just nabbed $2 million in funding from California-based Fenox Venture Capital. (Disclosure: Fenox VC is an investor in Tech in Asia. Please see our Statement of Ethics for more details.) This is the second time Fenox has invested in the startup, named IACC; the first time was in April 2013. The terms of the previous deal were not disclosed.

IACC’s marketplace, Green Energy Navi, purports to be the largest of its kind in Japan. It has 50,000 subscribers that can search among 500 manufacturers and service providers for the solar energy solution that is right for them. Those numbers have risen from 40,000 and 400, respectively, since 2013.

After completing the free registration, shoppers can input details like the amount they’re willing to spend and the location of solar panels and then receive estimates from up to five green tech companies. Along the way, users can also request personal support from the startup to navigate the big decision.

Funding history

Since its founding in 2008, IACC has continually raised funds. In January 2010, Samurai Incubate invested $35,000. Later that year, in June, Energy & Environment Investment put in $450,000.

IACC CEO Kazuyuki Uemura in today’s announcement spoke of guiding the company beyond Japan. “We will use this investment to solidify our lead through our Green-Energy Navi portal, and launch our new venture in electric power distribution. We will also be entering the global market in the near future with support from Fenox.”

Editing by Steven Millward 

This post was originally published on Tech in Asia

Featured Image Credit: Mike Baker / Creative Commons

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