Tokyo-based video recognition technology startup Abeja has installed a functional digital signage at Tokyo Metro’s Shinjuku station, the busiest subway station in Japan. This is to promote the movie from popular Japanese anime TV series Psycho-Pass, reproducing a system within the episodes that measures the populace’s mental states or vocational aptitudes using a “cymatic scan” of the brain, which is called the The Sibyl System.This system detects those looking at the ad and capture their faces with a camera. When captured, the captured face as well as the profile sheet stating your Psycho-Pass Coefficient index will be displayed on screen. If the Coefficient exceeds 100 points, you will be virtually executed on-screen by Public Safety Bureau officers carrying hand weapons called Dominators (see the video below).
This signage is in place until next Sunday (11 January), so please check it out if there is any chance to use Shinjuku station by then.
The presentation has conscientiously reproduced the world of the anime series, so not only ardent anime fans but also many passers-by of all ages can enjoy (possibly) being “blown away” by the experience. Abeja CEO Yousuke Okada explained that this can prove the possibility of a new advertising medium applying their video recognition technology. This is also considered remarkable because it is rare for a startup to leverage their core technology in collaboration with established companies or entertainment businesses.
See the original story in Japanese. Tokyo-based hardware startup Cerevo announced today that it has co-developed a new product called Listnr as a first effort from a joint project with new startup Interphenom. This follows their recent introduction of Snow-1 snowboard bindings from their smart sports gear series XON. See also: Japan’s hardware startup Cerevo unveils smart sports gear for snowboarding Cerevo has launched a Kickstarter campaign for Listnr, and is exhibiting it at 2015 International CES underway in Las Vegas. Listnr is a cloud-based listening device equipped with a microphone and Internet connectivity, which sends notifications to smartphones or other connected devices according to certain sound patterns such as an infant’s cry, as well as giving users control over Philips Hue connected light bulbs by the snap of a finger. Listnr uses a sound and voice-based emotion recognition engine invented by Panasonic. Cerevo and Interphenom will offer an API so that third-party developers can develop new services or products integrating with the listening device. The Interphenom project The Interphenom project was started by a concept by Rie Ehara illustrating a communication device using sounds following her discussions with Cerevo and hardware startup incubation initiative ABBALab, both of which reside…
Tokyo-based hardware startup Cerevo announced today that it has co-developed a new product called Listnr as a first effort from a joint project with new startup Interphenom. This follows their recent introduction of Snow-1 snowboard bindings from their smart sports gear series XON.
Cerevo has launched a Kickstarter campaign for Listnr, and is exhibiting it at 2015 International CES underway in Las Vegas.
Listnr is a cloud-based listening device equipped with a microphone and Internet connectivity, which sends notifications to smartphones or other connected devices according to certain sound patterns such as an infant’s cry, as well as giving users control over Philips Hue connected light bulbs by the snap of a finger.
Listnr uses a sound and voice-based emotion recognition engine invented by Panasonic. Cerevo and Interphenom will offer an API so that third-party developers can develop new services or products integrating with the listening device.
The Interphenom project
The Interphenom project was started by a concept by Rie Ehara illustrating a communication device using sounds following her discussions with Cerevo and hardware startup incubation initiative ABBALab, both of which reside in Tokyo’s notable hardware incubation lab DMM.make Akiba.
Panasonic’s R&D department had been exploring ways to commercialize the technology of the voice-based emotion recognition engine, and started developing a prototype with Cerevo in the summer of 2014. Because of the high affinity between the concept and the Listnr concept, Cerevo proposed to Ehara that she collaborate on a new product.
The team subsequently kicked off full-scale development after winning the ABBALab Scholarship program. This enclosure was designed by UK-based Japanese product designer Satoshi Yanagisawa, who is famous for having designed the portable power generator Cyclus as well as the futuristic smart power strip Otto.
See the original story in Japanese. Tokyo-based Cerevo, the Japanese startup known for its Cerevo Cam and IoT crowdfunding site Cerevo Dash, unveiled a new smart sports device series called XON today, announcing functional snowboard bindings called Snow-1 as the first product from the series. In our previous interview with Cerevo CEO Takuma Iwasa, he said that the company was planning to expand the range of products, especially in the IoT and “high amateur” spaces where this new product is categorized. Snow-1 is sensor-enabled snowboard bindings and transmits data to smartphones via BLE (BlueTooth Low Energy) in real-time so that users can analyze their snowboarding technique. Eight load balance sensors under the footpads of the device detect the center of gravity and how users distribute their weight on each of their legs. Two sensors measure the bending of the snowboard. Snowboarding recorded via smartphone allows for data to be displayed in synchronization with the video clip so you can analyze your stance from an objective viewpoint. Leveraging the GPS data, the device allows you to track your snowboarding trail. High-luminance LEDs in the toes and heels help you improve your form while snowboarding. Snow-1 will be exhibited at 2015 CES…
Tokyo-based Cerevo, the Japanese startup known for its Cerevo Cam and IoT crowdfunding site Cerevo Dash, unveiled a new smart sports device series called XON today, announcing functional snowboard bindings called Snow-1 as the first product from the series.
In our previous interview with Cerevo CEO Takuma Iwasa, he said that the company was planning to expand the range of products, especially in the IoT and “high amateur” spaces where this new product is categorized.
Snow-1 is sensor-enabled snowboard bindings and transmits data to smartphones via BLE (BlueTooth Low Energy) in real-time so that users can analyze their snowboarding technique. Eight load balance sensors under the footpads of the device detect the center of gravity and how users distribute their weight on each of their legs. Two sensors measure the bending of the snowboard.
Snowboarding recorded via smartphone allows for data to be displayed in synchronization with the video clip so you can analyze your stance from an objective viewpoint. Leveraging the GPS data, the device allows you to track your snowboarding trail. High-luminance LEDs in the toes and heels help you improve your form while snowboarding.
Snow-1 will be exhibited at 2015 CES Unveiled to be held on 24 January, and 2015 International CES to be held on 6 January in Las Vegas, followed by a planned release this year.
Japan’s Nikkei reported earlier this morning that Tokyo-based VC firm Incubate Fund has formed a new fund valued at 11 billion yen (about $91.2 million), focused on investing in IoT (Internet of Things) startups. See also: Incubate Fund forms new $21.4M fund, plans to invest in 100 startups in 3 years The new fund has raised 5 billion yen ($41.5 million) from Japanese state-run fund Innovation Network Corporation of Japan (INCJ) as well as the rest from internet giants and established companies including Yahoo Japan (TSE:4689), Sumitomo Mitsui Bank (TSE:8316), Development Bank of Japan, Tencent Holding (HKG:0700), Sega Sammy Holdings (TSE:6460), Mistletoe, TBS Holdings (TSE:9401), Mixi (TSE:2121), and undisclosed several angel investors [1]. While Incubate Fund had been typically an average of several hundreds of thousands US dollars per startup, the new fund is aimed to invest a relatively large amount ranging from $2.5 million to $4 million. Incubate Fund unveiled that it has invested in US-based smart driving assistant developer Drivemode from this fund. It is often said that IoT businesses typically require more engineering expertise and experience from many industries, so Incubate Fund expects to help IoT startups hire talented people through supply of funds. Tencent Holding is a stock holding company…
Japan’s Nikkei reported earlier this morning that Tokyo-based VC firm Incubate Fund has formed a new fund valued at 11 billion yen (about $91.2 million), focused on investing in IoT (Internet of Things) startups.
While Incubate Fund had been typically an average of several hundreds of thousands US dollars per startup, the new fund is aimed to invest a relatively large amount ranging from $2.5 million to $4 million. Incubate Fund unveiled that it has invested in US-based smart driving assistant developer Drivemode from this fund.
It is often said that IoT businesses typically require more engineering expertise and experience from many industries, so Incubate Fund expects to help IoT startups hire talented people through supply of funds.
Tencent Holding is a stock holding company of a Chinese internet giant. Sega Sammy Holdings is a stock holding company of Japanese major game and pachinko companies. Miseletoe is an investment fund by Japanese investor Taizo Son. TBS Holdings is a stock holding company of Japan’s major private TV network Tokyo Broadcasting System. ↩
Japan’s Nikkei reported today that Japan’s third largest credit card issuing company Credit Saison (TSE:8253) will invest in San Francisco-based Coin, the Y Combinator-backed startup that has been developing a technology rolling up to eight conventional magnetic stripe credit cards into a single digital card. Details of the investment has not been disclosed but it is understood Coin will raise several million dollars from Credit Saison. This will be the first investment for a Japanese credit card company to invest in startup in the US. The article says that Coin is looking to expand to Japan in one to two years and aims to expand to other Asian countries with support from the credit card company. Credit Saison has invested in several Japanese startups developing fintech services, such as mobile payments processing company Coiney, consumer rewards startup Kanmu, and personal accounting startup Money Forward.
Japan’s Nikkei reported today that Japan’s third largest credit card issuing company Credit Saison (TSE:8253) will invest in San Francisco-based Coin, the Y Combinator-backed startup that has been developing a technology rolling up to eight conventional magnetic stripe credit cards into a single digital card. Details of the investment has not been disclosed but it is understood Coin will raise several million dollars from Credit Saison. This will be the first investment for a Japanese credit card company to invest in startup in the US.
The article says that Coin is looking to expand to Japan in one to two years and aims to expand to other Asian countries with support from the credit card company.
Credit Saison has invested in several Japanese startups developing fintech services, such as mobile payments processing company Coiney, consumer rewards startup Kanmu, and personal accounting startup Money Forward.
See the original story in Japanese. In my view the boom of peer-to-peer social lending services has passed its peak in Japan. The reason is that the recent step down of the management at a pioneering company in this sector as well as transitioning their business model much closer to crowdfunding rather than social lending. In the US, major peer-to-peer lending service provider Lending Club IPOed on the New York Stock Exchange in December. I visited their office at the Plug & Play Tech Center in Sunnyvale, California, and met the founders when they launched in 2006. It amazed me that they successfully IPOed and acquired a market cap equal to that of a Japanese regional bank. What caused such a big gap in this space in the market environment between Japan and the US? Does the Japanese social lending industry have a bright future? An interesting Japanese startup called Crowdcredit runs a social lending platform bringing capital from Japan to Latin American. I recently spoke to Tomoyuki Sugiyama, co-founder and CEO of Crowdcredit. Money demand grows, banks go conservative As the world’s population grows, so does the demand for money. Lending money to those in need is a duty…
In my view the boom of peer-to-peer social lending services has passed its peak in Japan. The reason is that the recent step down of the management at a pioneering company in this sector as well as transitioning their business model much closer to crowdfunding rather than social lending.
In the US, major peer-to-peer lending service provider Lending Club IPOed on the New York Stock Exchange in December. I visited their office at the Plug & Play Tech Center in Sunnyvale, California, and met the founders when they launched in 2006. It amazed me that they successfully IPOed and acquired a market cap equal to that of a Japanese regional bank.
What caused such a big gap in this space in the market environment between Japan and the US? Does the Japanese social lending industry have a bright future? An interesting Japanese startup called Crowdcredit runs a social lending platform bringing capital from Japan to Latin American. I recently spoke to Tomoyuki Sugiyama, co-founder and CEO of Crowdcredit.
Money demand grows, banks go conservative
As the world’s population grows, so does the demand for money. Lending money to those in need is a duty of financial services, but banks are unlikely to lend to anyone not only in Japan but also in the rest of the world. This is because of the 2010 Basel III, the global regulatory standard on bank capital adequacy. Many banks in Japan have merged and acquired each other in order to gain capital adequacy ratio, especially in the last several years.
However, in the global banking industry, there are surprisingly a number of banks with a financial solidity in developing countries. Sugiyama explained:
Tomoyuki Sugiyama
There are many conservative banks in developing countries, and they have financial solidity. However, even for middle-income people, which are considered to carry less loan risk, 30% of them lack access to financial services.
Despite the fact that there is huge money demand, banks collect and keep money from people but cannot lend money to them. Having an eye on this huge gap between demand and supply, many peer-to-peer social lending startups have popped up and joined the market.
A series of funds have been continuing in this sector, where UK-based Lending Works fundraised $3.5 million before its launch, and Rocket Internet-backed Lendico snagged $120 million in seven months following its launch.
Conventional banks can offer money savings but cannot do loans. That is why banks are transitioning themselves for the first time in 150 years, Sugiyama says.
Why global?
Many peer-to-peer social lending services born in the 2000s have procured and supplied money in the same market. Examples include Prosper and Lending Club in the US, Zopa in the UK, and Maneo in Japan. However, wealth is unevenly distributed between geographical areas as illustrated in the North-South divide. Hence, the market with money “remaining” is not always the one requiring this money the most. In light of facilitated fund transfers thanks to Internet penetration, it is now natural to go beyond borders when investing money in markets with more demand for such funding.
Sugiyama explained that every market can be categorized to the following three types according to its characteristics.
Procurement gap type…Markets where demand of funds is much larger than supply. (e.g. UK, Spain, Australia, Chile etc.)
Lending gap type…Markets where supply of funds is much larger than demand. (e.g. Japan, Germany etc.)
Developing countries type…While supply and demand of funds are seemingly balanced, the fact is that financial services are still immature there and demand for funds has not yet been apparent in these markets. If cultivated, demand will exceed supply. (e.g. most developing countries).
Among these three types, if any market of the procurement gap type and the lending gap type can be connected, this will work complementarily for both markets and result in an efficient investment. Based on this concept, many campaigns on Crowdcredit deal with funds in Japan to be loaned out to the Latin American market.
However, in view of the economic growth rate by region, we can assume that lending to the Southeast Asian market may create better results. Sugiyama shares his insight:
In Asia, there are problems in financial literacy and administrative transparency of local monetary authorities, which prevents the collection of accurate and precise information.
In view of risk management, he said that peer-to-peer social lending to the Asian market is premature.
Meanwhile, as the social lending industry is more organized, service providers are being more fragmented into two types: funding side (lender management) and deal sourcing side (borrower management). In Crowdcredit’s case, while they are focused on managing lenders and funding, they outsource deal-sourcing management to different “originators” in every market.
Crowdcredit has partnered with originators from around the world collecting projects requiring funds, planning to expand to dealing with projects from Europe and Oceania beyond the Latin American market.
Sugiyama elaborated:
We have traveled around the world, and partnered with almost all of the originators in Europe and Latin America. They also think our approach is interesting because helping them fundraise from the Japanese market creates diversifying funding sources for them.
Within the reach of everyone
Since its launch in June, Crowdcredit has only been serving institutional investors because of a limited operating license from the Japanese monetary authority. But it shifted to a full-service license in December, which has allowed them to serve individual lenders and investors with peer-to-peer social lending projects starting at 100,000 yen ($840). The Japanese government is expected in April to approve loan-type crowdfunding (peer-to-peer social lending) as to be dealt using individual saving accounts (ISA), so profits from social lending will not be subject to taxation under certain conditions.
Sugiyama shared his business plan:
Now that global investment banks and financial institutions have withdrawn from the Japanese market, we are the last generation who has expertise of what they have brought, such as margin trading or arbitrage. In the future, we want to fundraise from credit unions and established companies, and create a global marketplace for peer-to-peer social lending.
The Japanese startup economy is saturated with funds supplied, and risk money is looking for a place to go. In the conservative financial services industry, the market will push such a trailblazing team toward success unless the monetary authority conducts an unnecessary intervention.
Crowdcredit fundraised from Femto Startup just after its launch in 2013, and subsequently secured additional funding round from Monex Ventures, GCI Capital, and Femto Startup in July. Details of these investments have not been disclosed.
Shintaro Eguchi
Junya Mori
Masaru Ikeda
