UrbanChain, Blockchain Energy Trading Platform, Has Raised £5 Million From Eurazeo
UrbanChain announced today that it has raised a £5.25 million Series A round spearheaded by top global investment firm Eurazeo through its venture expertise in the Climate and Smart City space. It does this on a half-hourly basis, using a system that is driven by an integrated blockchain and AI, and it continues to disrupt the sector by cutting bill prices for both commercial and residential clients. The P2P exchange offered by the company makes it possible for anyone to purchase truly.
UrbanChain will begin expanding into new foreign markets, beginning with Ireland. The company will also improve its technical infrastructure and increase its personnel from 10 to 21 employees by December 2023. With 150GWh (gigawatt hours) of electricity under management and about 1.2TWh (terawatt hours) in the pipeline, UrbanChain’s revenue is expected to exceed £22 million in the next 12 months. Dr. Somayeh Taheri, CEO of UrbanChain, stated, “We’re delighted to conclude this Series A led by Eurazeo, which will strengthen our technical infrastructure in response to the scale of exponential growth that we are experiencing.”
