Six Companies invest a total of JPY 3.7bn in avatarin

OMRON VENTURES, San-ai Oil, SoftBank, Fuyo General Lease, Mizuho Bank, and Sumitomo Mitsui Trust Bank, have subscribed to a third-party allocation of shares totaling ¥3.7 billion by avatarin, an ANA Holdings startup, in order to collaborate on the creation of industry-specific AI services where people and AI coexist, as envisioned by avatarin.

With this capital increase, avatarin has completed a cumulative total of JPY 7.7bn in funding, including investments from ANA Holdings, Development Bank of Japan, and Mitsubishi UFJ Financial Group.

avatarin aims to build a globally shared platform that allows the AI-ization and sharing of various professional skills possessed by humans. By “avatarin-ing” into various robots and mobility connected to this platform, the company aims to create a world where everyone can help each other anytime, anywhere.

Using its unique “Remote to AI” approach, avatarin develops AI by learning professional skills from humans. The company will leverage this AI and its communicative AI robot “newme” to connect “people” and “skills,” solving labor shortage issues.

avatarin allows a person to take over another being, such as an AI robot, located in a physically distant place. It also allows various human information and abilities to be installed in that being. avatarin is both a service name and a company name, and is also expressed as a verb, as in “to avatarin.”

Through this fundraising, avatarin will accelerate research and development of technologies such as generative AI and robotics, collaborating with the six investors to create services where people and AI coexist, addressing the societal issue of labor shortages.

Background and Objectives of Each Company’s Investment 

• OMRON VENTURES: We decided to invest in avatarin because we resonated with their vision of “solving all social issues and expanding human potential,” which aligns with the Omron Group’s corporate philosophy of “creating social needs.” We are confident that avatarin’s “newme” communication AI robot will be a key product and service leading to the resolution of various social issues amidst the deepening labor shortage. Through this investment, OMRON VENTURES will support the growth of avatarin and strive to create innovative solutions through collaboration in areas such as knowledge and technology.
• San-ai Oil: Japan’s working-age population is on a gradual decline, and its impact is becoming apparent in many industries. Through this investment, we will collaborate with avatarin to develop, operate, and commercialize autonomous AI robots that automate customer service and safety management in the energy infrastructure field where we have cultivated our expertise, aiming to solve social issues.
• SoftBank: Under the SoftBank Group’s corporate philosophy of “Information Revolution — Happiness for everyone,” we are promoting contributions to humanity and society through the information revolution. We decided to invest in this project because we sympathize with avatarin’s vision of “creating industry-specific AI services where people and AI coexist.” Going forward, we will consider providing support by working with avatarin to provide high-quality large-scale language models (LLMs) and annotation support services such as “TASUKI Annotation” to build convenient and industry-specific AI solutions. We will also provide a network environment through 5G to meet the growing demand for data communication.
• Fuyo General Lease: By jointly promoting the spread of various robots and mobility equipped with avatar core®, the core of avatar technology, including the communication AI robot “newme,” we will contribute to the realization of a rich society where everyone can play an active role beyond physical constraints, solving various social issues such as labor shortage and achieving sustainable growth.
• Mizuho Bank: Mizuho Bank will aim to create new services as a value co-creation partner in the financial industry towards a future where avatarin’s services will enable instantaneous support through both “optimal human judgment” and “automation.” By working with our extensive customer base to promote the spread and expansion of services, we will take on the challenge of solving the social issue of future labor shortage.
• Sumitomo Mitsui Trust Bank: Since April 2022, we have been making impact equity investments to financially support challenges and initiatives aimed at solving social issues. By utilizing avatarin’s communication AI robot “newme” in airports, retail stores, and other workplaces, we will contribute to improving Japan’s labor shortage problem caused by the declining birthrate and aging population, and to creating a positive impact towards the realization of a sustainable society.

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