Innovators in Japan: Weekly Digest 9/28/2018
Wow, I wasn’t sure whether to prep for the big typhoon coming our way or to enjoy the clear sky and cool breeze in Tokyo! Hope you all out in Kyushu, Shikoku, and Okinawa stayed indoors and are safe.
This week in our Weekly Digest, we’ve taken a stab at highlighting a well-known fund in the Japanese startup ecosystem. 500 Startups Japan, a branch of the global early stage investment firm 500 Startups, has been making waves not just as investors, but also as active promoters and shapers of Japanese entrepreneurship. They’ve been investing in companies you’ve definitely heard of if you’re working in the Japanese startup circle. If you show up to any Tokyo-based startup event, you’re sure to meet someone who knows the managing partners personally.
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VC Profile: 500 Startups Japan
The Japanese venture capital world is a bizarre beast. Working within the confines of a mostly bureaucratic and socialist-leaning nation filled with company men aspiring to fulfill a traditional career path, finding visionary entrepreneurs, much less supporting them with cold, hard cash is not an easy path to take.
The very small network of Japanese venture capital is overwhelmingly filled with corporate venture capital, money flowing from venture capital and corporate development arms of large and well-known companies. And smaller funds with less than $50m are aplenty, while the world may not hear much about the goings-on within the Japanese seed-stage circle.
Right smack dab in the middle of all of this is 500 Startups Japan, the Japanese offshoot of 500 Startups, a global early stage venture capital fund and accelerator. With a global network of 150 investment professionals and accomplished startup operators, 500 Startups has invested in over 1,900 companies across 60 countries so far, and they’ve contributed to the Japanese startup ecosystem through not only direct investments, but also thought leadership and perhaps most importantly, creating an environment for entrepreneurs to thrive in a traditionally risk-averse nation.
Read more of the article here.
New Rounds:
Agrigate, a private-label food and agriculture startup, raised an undisclosed amount in the millions of dollars from Mitsui & Co. More here: https://bit.ly/2xWomBN
Cryptact, a cryptocurrency tax service, raised ¥330m (~$3m) from JAFCO, MoneyForward, et al. More here: https://tcrn.ch/2Q8TS71
DeepValley, an apparel tech and retail productivity management tool developer, raised ¥30m (~$270k) in seed funding led by IDATEN Ventures. More here: https://bit.ly/2DLcqcr
Favy, a FoodTech startup, raised ¥1b (~$9m) from MyNavi to launch WeWork for chefs — aims to provide experimentation and popup spaces for up and coming chefs. More here: https://tcrn.ch/2N1rOAH
f-code, a online customer support startup, raised ¥280m (~$2.5m) and announces partnership with job search site MyNavi. More here: https://tcrn.ch/2xPuA6q
Golden Gate Ventures, a San Francisco-based early stage venture capital firm, closed a $100m 3rd fund focused on southeast Asia with Mistletoe and Mitsui Real Estate as investors. More here: http://thebridge.jp/?p=296784
Housmart, an AI-based real estate startup, raised ¥300m (~$2.7m) from Accord Ventures, SX Capital, Daiwa Corproate Investment, CAC Capital, and Freebit Investment, and plans to build SaaS for agents. More here: https://tcrn.ch/2OPq4Mv
LanCul, an English conversation cafe startup aimed at connections and diversity experience rather than academic English learning, raised ¥56m (~$490k) from Nippon Venture Capital, DBS, and StartPoint. More here: https://tcrn.ch/2MZq4aZ
LiverRights, a live streaming production startup, raised an undisclosed amount from Crooz; plans to manage liver streamer career path. More here: https://bit.ly/2xRotyz
Pathee, a local information search startup, raised ¥650m (~$5.9m) from Mitsui Corporation, Eight Roads Ventures Japan, Chiiki Sosei Solution, Daiichi Kanshin, Seqvel, and SMBC Venture Capital, to strengthen its digital consulting services for brick-and-mortar stores. More here: https://bit.ly/2ON7Hru
Plantform, aquaponic plant farm startup, raised ¥70m (~$640k) from Daiwa Investment, et al. More here: https://bit.ly/2OSppKr
POTLUCK, a subscription-based lunch take-out startup, raised an undisclosed amount from NOW.vc. More here: https://tcrn.ch/2IoY1AY
Spornia., a sport-technology startup, raised ¥34m (~$310k) in pre-seed funding from 11 investors, and launches their new sports content sharing app Miez. More here: https://bit.ly/2xDwkAB
Synapse, an AI-based travel itinerary app, raised ¥100m (~$900k) from several investors as seed funding. More here: https://bit.ly/2NGqQ1T
waaq, an AI personal scheduling bot startup, raised undisclosed amount from Wantedly and several angel investors. More here: https://bit.ly/2zzUFss
Quick Updates:
CyberAgent, a Japanese gaming and media company, announced a 5th grader as the winner of elementary school coding contest with a game developed from scratch, from its design to actual development. More here: https://tcrn.ch/2xABai0
Eichiiiworks, a freelance marketplace startup, launched its eponymous app across 3000 freelancers and 350 companies. More here: https://bit.ly/2QXED2e
JAXA, the Japanese aerospace research agency, successfully landed two rovers on asteroid Ryugu as part of the Hayabusa 2 mission. The rovers will head back to earth with asteroid soil. More here: https://tcrn.ch/2Oc3aSk
Slush Tokyo, a Japanese branch of Finnish startup conference producer best known for its Slush Tokyo conference, saw its CEO Antti Sonninen resign. Two millennial women Haruka Furukawa and Natsumi Kakishima to lead the company as CEO and COO, respectively. More here: https://bit.ly/2N3UNnj
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