Azul Energy, a Sendai, Japan-based clean chemistry startup, raised $3.2M in Series A funding.
The round was led by Spiral Capital, Inc., with participation from TOHOKU University Venture Partners Co., Ltd., JMTC Capital LLC, Mitsubishi UFJ Capital Co., Ltd., Governance Partners Inc., and existing investor Spurcle Inc.
The company intends to use the funds to expand operations and its development efforts.
Established in 2019 and led by CEO Koju Ito, Azul Energy is developing rare-metal-free catalysts for next-generation energy systems to improve performance, reduce costs and eliminate resource constraints. These high-performance catalysts are invented by Tohoku University.
Commenting on the news, Koju Ito, said: “With this new financing, we will promote the mass production of our proprietary catalyst and its electrode sheet. We will also promote business development overseas through the network developed in the MassChallenge program”.
FinSMEs
06/02/2024