# PowerX

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/powerx

- Industry: Energy Storage & Batteries
- Headquarters: Tokyo, Japan
- Website: www.power-x.jp
- Total disclosed funding: $106M
- Latest round: Series C (Sep 11, 2024)
- Investors on record: 27

## About

Based in Tokyo, Japan, and founded in 2021, PowerX, Inc., engages in the manufacture and sale of large storage batteries and electric carriers. In March 2025, PowerX, Inc. raised an undisclosed amount in series C funding from ITOCHU, MUFG Bank, Imabari Shipbuilding Co., Ltd., Frontive Holding Limited, and Toyota Tsusho. This round was part of a larger JPY 3.17 billion equity and debt funding, bringing the total series C funding to JPY 5.63 billion. The company offers various energy storage solutions that include battery-powered EV (electric vehicle) fast chargers, grid batteries, home batteries used in homes for basic power needs, and marine batteries that can be used in hybrid and electric ships. The company plans to use the March 2025 funding to strengthen the research and development of its products and accelerate the development of its factory.

## Funding rounds

- Series C, Sep 11, 2024, $17M — SMBC Nikko Securities, Spiral Capital, Frontive Holding Limited, Toda, Chugin Capital Partners
- Series B, Aug 17, 2023, $19M — TransLink Capital, Japan Petroleum Exploration, Mori Trust, Frontive Holding Limited, Nippon Gas Co., Ltd., Yaskawa Electric Corporation
- Series B, Jul 3, 2023, $13M — Tohoku Electric Power, Spiral Capital, SENKO Asset Management, JICN, Nippon Gas Co., Ltd.
- Series B, Feb 6, 2023, $5.4M — MY. Alpha Management HK Advisors, Chugin Capital Partners, Food Techno Engineering
- Series A, Aug 3, 2022, $7M — Itochu, Electric Power Development, Mori Trust, Frontive Holding Limited, K4 Ventures
- Series A, May 31, 2022, $12M — Kansai Electric Power, K4 Ventures
- Series A, May 23, 2022, $32M — MUFG Bank, Mitsui & Co. – Corporate Development Business Unit, TransLink Capital, Mizuho Capital, Nippon Gas Co., Ltd., Nippon Yusen Kaisha, Spiral Capital, Tokyo Century Corporation, Imabari Shipbuilding Co., Ltd., Mizuho Leasing, BEMAC Corporation

## Investors

- MUFG Bank — Series A
- Mitsui & Co. – Corporate Development Business Unit — Series A
- TransLink Capital (https://capitalatlas.ai/funds/translink-capital) — Series A, Series B
- Mizuho Capital (https://capitalatlas.ai/funds/mizuho-capital) — Series A
- Nippon Gas Co., Ltd. — Series A, Series B
- Nippon Yusen Kaisha — Series A
- Spiral Capital (https://capitalatlas.ai/funds/spiral-capital) — Series A, Series B, Series C
- Tokyo Century Corporation — Series A
- Imabari Shipbuilding Co., Ltd. — Series A
- Mizuho Leasing — Series A
- BEMAC Corporation — Series A
- Kansai Electric Power — Series A
- K4 Ventures (https://capitalatlas.ai/funds/k4-ventures) — Series A
- Itochu — Series A
- Electric Power Development — Series A
- Mori Trust — Series A, Series B
- Frontive Holding Limited — Series A, Series B, Series C
- MY. Alpha Management HK Advisors — Series B
- Chugin Capital Partners (https://capitalatlas.ai/funds/chugin-capital-partners) — Series B, Series C
- Food Techno Engineering — Series B
- Tohoku Electric Power — Series B
- SENKO Asset Management — Series B
- JICN — Series B
- Japan Petroleum Exploration — Series B
- Yaskawa Electric Corporation — Series B
- SMBC Nikko Securities — Series C
- Toda — Series C