UrbanChain Secures £5.25M Series A Funding Led by Eurazeo: Driving Sustainable Energy Innovation

Manchester-based energy technology company UrbanChain has secured £5.25 million in a Series A funding round led by global investment firm Eurazeo. This funding, aimed at bolstering UrbanChain's innovative peer-to-peer (P2P) energy exchange platform, marks a significant milestone in the company's journey towards revolutionising the energy market.
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Launched in 2017, UrbanChain has been at the forefront of leveraging blockchain and AI technologies to create a unique energy trading platform. By connecting renewable energy generators with consumers on a half-hourly basis, UrbanChain aims to drive down energy costs while promoting sustainable energy practices.

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With previous investments from entities like Innovate UK and the Department for Energy Security & Net Zero, UrbanChain has already demonstrated its potential to disrupt the traditional energy landscape. Now, with Eurazeo as its major shareholder, UrbanChain is poised for even greater expansion.

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CEO Dr. Somayeh Taheri expressed enthusiasm about the collaboration, stating, "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." This sentiment underscores UrbanChain's commitment to scaling its operations to meet increasing demand.

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Eurazeo's Managing Director in the Venture Smart City team, Pierre Devillard, emphasised the strategic significance of partnering with UrbanChain. He remarked, "Through the P2P markets, the firm is supporting the development of renewable energy where the consumption is, hence limiting drastic impacts on the grid and providing benefits to local communities. What they do is clearly the future of electricity markets!"

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Matthieu Bonamy, Partner in Eurazeo's Venture Smart City team, highlighted the pivotal role UrbanChain plays in advancing renewable energy adoption. "At Eurazeo, we believe that the growth of renewable energy is largely driven by power purchase agreements. UrbanChain's talented team has developed the tech that enables direct matches between consumers who want to consume clean energy and green generators."

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UrbanChain's expansion plans include penetrating new international markets, starting with Ireland. This move not only demonstrates the company's commitment to global sustainability but also opens up new avenues for growth and innovation.

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Furthermore, UrbanChain aims to enhance its technology infrastructure and significantly increase its workforce. With projections indicating a turnover exceeding £22 million over the next 12 months, UrbanChain's trajectory points towards continued success and impact in the renewable energy sector.

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UrbanChain's P2P energy exchange platform stands as a testament to its dedication to providing accessible, affordable, and sustainable energy solutions. By leveraging cutting-edge technologies and strategic partnerships, UrbanChain is poised to lead the charge towards a greener, more sustainable future.

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As UrbanChain continues to innovate and expand, its impact on the energy market and the broader sustainability landscape is poised to grow exponentially. With Eurazeo's backing and a clear vision for the future, UrbanChain is well-positioned to drive meaningful change in the global energy ecosystem.