SAN JOSE, Calif.--(BUSINESS WIRE)--Fenox Venture Capital announces its investment into I AND C-Cruise Co, Ltd. (IACC), which operates Green-EnergyNavi.com, the #1 solar power web portal in Japan. Fenox had initially invested in the company in 2013, and has since then been providing continuous growth support. With the current investment, IACC plans to enter the electric power distribution market as it becomes deregulated in Japan in 2016.
Earlier in 2015, Fenox made a multi-million dollar investment in an Internet advertising startup in Japan. The investment in IACC represents Fenox’s second Japanese investment in 2015. With it, Fenox’s investments in Japan total $10M year-to-date.
“IACC offers the right solution at the right time,” said Anis Uzzaman, General Partner at Fenox Venture Capital. “We are investing a second time in IACC because of its exponential growth rate, the market demand, and its high future potential.”
IACC is the largest marketplace in the $8 billion domestic household solar panel market in Japan. The platform counts more than 50,000 subscribers, as well as 500 manufacturers and service providers. With stellar growth of 1,621% over the past three years, IACC has been ranked among the top 30 firms for two successive years in Deloitte’s Technology Fast 500 Asia Pacific.
“We will use this investment to solidify our lead through our Green-EnergyNavi.com portal, and launch our new venture in electric power distribution,” said Kazuyuki Uemura, CEO of IACC. “We will also be entering the global market in the near future with support from Fenox.”
Green-EnergyNavi.com is a marketplace that matches solar power solutions to consumers’ energy requirements. Their web portal presents consumers with user reviews and cost estimates for convenient comparison and selection of products from multiple vendors. Additionally, consumers are given practical information such as best practices, government subsidies, and tax incentives for using solar energy.
Fenox has achieved numerous successes with its Japanese investments, helping companies expand to international markets thanks to its global network. Dream Link Entertainment (DLE), a leading animation studio that went public on Tokyo Stock Exchange on March 26, 2014, is an example of Fenox providing hands-on support in establishing the presence of companies outside of Japan.
About Fenox Venture Capital
Fenox Venture Capital is a Silicon Valley-based venture capital firm which has invested in more than 50 companies in the US, Japan, Indonesia, and Singapore. Investment areas include IT, Health IT, Consumer Internet, Cloud, Big Data, Mobile, Social, Payment Systems and Next Generation Technologies. Fenox leverages its global network spanning the US, Asia, Europe, and the Middle East to support the global expansion of its portfolio companies.
About I AND C-Cruise (IACC)
IACC operates the web portal Green-EnergyNavi.com which helps consumers find optimal solar power installations, and make the transition to solar power solutions. IACC is committed to providing the best services to environmentally-conscious consumers. In addition to solar panels, they supply HEMS and other green tech services to consumers and corporations. Details at: www.Green-EnergyNavi.com.