Asuene Raises US$20 million in Series B Round

Asuene Inc., the leading climate tech company in Japan, has raised US$20 million in total Series B round. This brings the cumulative total of investments and loans to US$23 million since the company's inception in October 2019.

In this round, a total of US$20 million was raised from 14 venture capitals and financial institutions, including Pavilion Capital, an investment company under the Singapore government, and Axiom Asia Private Capital, a leading private equity fund in Asia, as new investors. In addition, in the second close, Asuene welcomed Salesforce Ventures which is known for investing in leading SaaS companies globally, and Masayuki Mochida from Tybourne Capital Management as new investors.

The procured funds will be used to strengthen the recruitment of talented personnel, expand system functions to improve the usability of measuring carbon emissions throughout the supply chain, and enhance system specifications for the global market.

"Through this financing, we expect to recruit and train human resources, expand system functions, and enhance system specifications for global expansion, with a focus on the cloud service 'Asuzero,'" said Chee Kong Choun, head of Japan Investments at Pavilion Capital. "We also expect that the initiatives and efforts of Asuene will enhance measuring and managing the progress of programs and plans related to CO2 emissions reduction."

"Asuene is the leading CO2 and renewable energy platform in Japan and showing very strong growth," said Chris Loh, managing partner of Axiom Asia. "We strongly believe in the company's mission, 'Making a better world for next generations,' and the importance of building a sustainable world. We have high confidence in the company's services and are very excited to work together with the highly capable management team through its next phase of growth."

"The issue of climate change is imminent, and as listed companies on the Tokyo Stock Exchange Prime Market are required to disclose more information on their climate change measures, companies need to take stronger measures to combat climate change," said Takuya Hosomura, principal of Salesforce Ventures.

"Based on the business they have developed, Asuene can provide such companies a 'one-stop solution for decarbonization' with visualization, target management, and the reduction of CO2 emissions. We are honored to support the company working with its clients to realize 'a better world for the next generations.'"