Innovation Kyoto 2016 Investment Limited Partnership ("KYOTO-icap No.1 Fund"), with Kyoto University Innovation Capital Co., Ltd. ("Kyoto iCAP") (Head office: Sakyo-ku, Kyoto; Representative Director: Ko Kusumi) as unlimited liability partner, has made an additional investment in Enecoat Technologies Co., Ltd.

 　Perovskite solar cells, which Enecoat Technologies is working to commercialize, have the potential to surpass the efficiency of conventional silicon cells in the next few years, and have attracted much attention in recent years.

　This round of financing is a Series C round, and out of a total of 5.55 billion yen, KYOTO-iCAP No. 1 Fund has subscribed 270 million yen. Enecoat Technologies will use the funds raised to establish and expand its perovskite solar cell production and sales system, diversify its solar power supply chain, provide broad support for IoT devices, and advance new mobility applications. Woven Capital, a growth stage fund of the Toyota Motor Group, was the lead investor in this round.

List of Underwriters

Innovation Kyoto 2016 Investment Limited Partnership	Management Company: Kyoto University Innovation Capital Co.,Ltd.
INPEX Corporation
WOVEN CAPITAL, L.P.
Kyobin Shining Future Support Fund No.3 for SDGs Investment Limited Partnership	Management Company: Kyoto Capital ＆ Partners Co., Ltd
Industrial Machinery Systems Division, ShinMaywa Industries, Ltd.
The Chugoku Electric Power Co.
Chushin Venture Investment Fund No.6 Limited Liability Partnership	Management Company: Chushin Venture Capital Co.
Nishimatsu Construction Co.
JGC Mirai Investment Limited Partnership	Management Company: Global Brain Corporation
Hakuto Corporation
Mitsubishi HC Capital Co.
Mitsubishi UFJ Capital No. 8 Investment Limited Partnership	Management Company: Mitsubishi UFJ Capital Co., Ltd.
Future Creation No. 3 Fund	Management Company: SPARX Asset Management Co., Ltd.

 

Outline of Enecoat Technologies, Inc.
Established: January 2018
Business activities: R&D, manufacturing and sales of perovskite solar cells
Head Office: Kumiyama-cho, Kyoto, Japan
Representative Director: Naoya Kato
HP: https://enecoat.com/

About Kyoto University Innovation Capital Co., Ltd. (Kyoto-iCAP)
As a wholly-owned subsidiary of Kyoto University, KYOTO-iCAP provides investment and other business support to companies that utilize research results generated by Kyoto University and other national universities. We currently operate the KYOTO-iCAP No. 1 Fund (established in January 2016) with a total value of 16 billion yen and the Innovation Kyoto 2021 Investment Limited Partnership ("KYOTO-iCAP No. 2 Fund") (established in January 2021) with a total value of 18.1 billion yen. The No. 1 Fund has a maturity of up to 20 years, and the No. 2 Fund has a maturity of up to 17 years, making it possible to provide long-term support for the practical application of research results from Kyoto University, which has strengths in basic research. In addition, a portion of the funds in the No. 2 Fund will be invested in ventures originating from national universities other than Kyoto University.

Contact information for inquiries
Kyoto University Innovation Capital Co., Ltd.
Osami Kono, General Manager, Business Planning Dept.
E-mail: info@kyoto-unicap.co.jp