Trende, a Tokyo, Japan-based online renewable energy retailer selling electricity to residential customers in Japan, closed a JPY 730m Series A funding.
The round was led by Tepco Ventures with strategic investments from Showa Shell Sekiyu K.K. and Dubai Electricity and Water Authority (DEWA).
The company intends to use the funds to continue to grow its technical team and build upon its early success in the market.
A spinout from Tokyo Electric Power Company Holdings, Inc., the largest utility in Japan serving millions of homes and businesses and led by serial entrepreneurs Tadatoshi Senoo and Jeffrey Char, Trende is an online renewable energy retailer selling electricity to residential customers in Japan via its Ashita Denki (https://ashita-denki.jp/) and Hot Denki (https://hotdenki.jp) service websites. A Tokyo Electric Power Company Holdings, Inc. group company, Trende installs, operates and maintains solar panels on homeowners’ rooftops and shares the cost savings with its customer. The customer does not incur any upfront costs and immediately enjoys a lower energy tariff. Moreover, at the end of the contract term Trende transfers ownership of the solar panels to the customer.