EneCoat

Active#36 in Japan

Estimated valuation · Solar · Japan

Develops and manufactures flexible perovskite solar cells for indoor IoT devices, vehicles and buildings, spun out of Kyoto University.

Energy›perovskite solar enecoat.com

Founded2018

HQKyoto

Last roundSeries C · Jul 2024

Country of originJapanListed in the Japan ranking

Where would you invest?JapanJurisdiction as cited by the ranking

Estimated valuation

AI · Japan ranking

≈ USD 180MUSD 120–270M · Hundreds of M$

Hundreds of k$

Millions $

Tens of M$

Hundreds of M$

Unicorn

Decacorn

Hectocorn

Anchor: Last known equity round: Series C · USD 35M · Jul 2024
AI adjustment: None

In the Solar ranking (worldwide): ≈ USD 180M · USD 120–270M · Hundreds of M$.

An indicative editorial estimate produced by AI, imperfect by nature: neither a financial valuation nor investment advice. Only the market sets a company’s value. Method

Uback rankings

How the AI ranks →

Ranking	Tier	Rank	Edition	Next update
Japan · all sectors	Top 50	#36	Edition 0 · October 2026	10 Jan 2027
Solar · worldwide	Top 28	#18	Edition 0 · Oct 2026	10 Jan 2027

Rank historyOct 2026 · #18 SolarOct 2026 · #36 JapanFirst edition: no movements yet.

Funding history

Date	Round	Amount	Type	Investors
Jul 2024	Series C	USD 35M	Equity	Woven Capital, INPEX, Mitsubishi HC Capital

JPY 5.5bn.

Rounds as cited by Uback’s rankings. Equity, debt and grants are shown separately; only equity rounds count towards the valuation anchor.

Independent analyses

By industry professionals & analysts

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AI valuation: $180MUndervalued or overvalued?

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Who should acquire itStrategic buyers, and why

Who should it acquireAcquisition targets, and why

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What the AI reads

Read by the AI at the next edition.

Comparable companies in Japan

Full Japan ranking →

Kyoto Fusioneering#11Energy › fusion engineeringHundreds of M$Looop#14Energy › power retail and storageHundreds of M$enechain#26Energy › power trading marketplaceHundreds of M$Helical Fusion#47Energy › fusionTens of M$

Last updated: Oct 2026Report an error

Uback is a content publisher and an aggregator of non-binding expressions of interest. It provides no investment advice, receives no mandate and takes part in no transaction. Rankings, ranges and brackets are editorial estimates produced by AI, purely indicative.