Tokyo-based Hachimenroppi, the Japanese startup operating a food delivery service for restaurants, announced on Friday that it has fundraised 240 million yen (about $2.2 million) from SMBC Venture Capital, SBI Investment, Senshu Ikeda Capital, Sansei Capital Investment as well as individual investors. With the latest funding, the firm has secured a total of about 1.1 billion yen ($9.9 million) to date.
Since launch back in April of 2011, Hachimenroppi has been offering an e-commerce platform for restaurants in the Tokyo Metropolitan Area. In addition to buying from central markets including Tsukiji Fish Market, the company has been forming its own logistics and a vast procurement network with food producers and regional markets across Japan to stably provide restaurants with high quality fishery products, fruits, vegetables as well as meat.
Leveraging its IoT (Internet of Things)-based platform managing deliverers, the company has made many features possible to better serve restaurants, such as optimized deliverer dispatching and notifying the estimated arrival time of an ordered food delivery. The company claims that it will use the funds to strengthen fulfillment and logistics, also planning to focus on web marketing efforts using private and open data management platforms.
See the original story in Japanese. Japan’s Moff, developing wearable sensor devices / services, last week announced that it has succeeded in fundraising in order to promote a platform for health / exercise / rehabilitation field utilizing its sensor. This time, the firm fundraised a total of 300 million yen (about $2.7 million) from Energy & Environment Investment, Mitsubishi Research Institute (MRI) and Tsuneishi Capital Partners. The platform for rehabilitation use currently under development is a system to encourage health enhancement, care prevention and preventive medicine mainly targeting the elderly, by distributing content linked to body motions detected by the wearable sensor on user wrists. Moff and one of the investors, MRI, had last December already agreed to a capital / business tie-up regarding utilization of the Moff devices in care prevention / rehabilitation field for the elderly. it should be noted that the fundraising this time and that of last December are the same. The concept of Moff was first revealed in February of 2014. Subsequent fundraising from Bandai Namco and others in September occurred the following year, and the firm has been expanding its services to “intellect training” or gamification fields. According to CEO of Moff Akinori Takahagi,…
Moff Band – capable of detecting body motion by mounted gyro sensors and sending it to smart device Image credit: Moff
Japan’s Moff, developing wearable sensor devices / services, last week announced that it has succeeded in fundraising in order to promote a platform for health / exercise / rehabilitation field utilizing its sensor. This time, the firm fundraised a total of 300 million yen (about $2.7 million) from Energy & Environment Investment, Mitsubishi Research Institute (MRI) and Tsuneishi Capital Partners.
The platform for rehabilitation use currently under development is a system to encourage health enhancement, care prevention and preventive medicine mainly targeting the elderly, by distributing content linked to body motions detected by the wearable sensor on user wrists.
Moff and one of the investors, MRI, had last December already agreed to a capital / business tie-up regarding utilization of the Moff devices in care prevention / rehabilitation field for the elderly. it should be noted that the fundraising this time and that of last December are the same.
The concept of Moff was first revealed in February of 2014. Subsequent fundraising from Bandai Namco and others in September occurred the following year, and the firm has been expanding its services to “intellect training” or gamification fields. According to CEO of Moff Akinori Takahagi, as its business basis has become gradually established, the firm decided to proceed to the next stage – health enhancement business for the elderly with the “2025 problem (the aging population problems in Japan which will become serious by 2025)” in the backdrop.
Takahagi looks forward the demand from the healthcare field:
In addition to Moff for children or packaged products with educational materials for nursery schools and kindergartens, we had promoted research and development focusing on healthcare for about a year.
As the “2025 problem” will become serious, one in five Japanese will become a late-stage elderly (75 years and over) and the reduction in the burden of nursing care as to manpower will be called for strongly.
Image of the elderly healthcare platform Image credit: Moff
Details of the service will be disclosed a little bit later, but I could take a look at the demo in advance. It appeared that the human motion was digitalized when rehabilitation training took place, by putting the well-known Moff Band on the wrist.
Body motions cannot be easily visualized. By entrusting such devices or apps to determine whether the correct movement is achieved or not, users can freely take on the cycle of health enhancement tasks while at home alone. Takahagi explained the aim of the service thus.
The firm much stressed the number of users willing to pay the monthly fees for apps or services through hardware products in its business model. Unlike conventional services for child users, a completely different future is expected in the business for the elderly. It is interesting as to what kind of business growth the firm will see.
Translated by Taijiro Takeda Edited by “Tex” Pomeroy
See the original story in Japanese. Tokyo- / Bangkok- / Singapore-based Withfluence, the Japanese company providing an influencer marketing management platform for Asian markets under the same name, signed an MoU (memorandum of understanding) with Thailand’s second largest telco True on Wednesday. Withfluence was founded in May of 2016 by Hiroyuki Okamoto (current CEO) who previously ran a media and advertising company in Vietnam, and Keiichi Honma (current CTO) who had been developing web services and translation apps for foreigners visiting Japan. Before Withfluence, Okamoto and Honma had developed an instant e-commerce platform described as “Asia’s version of Shopify” and based in Thailand, but changed directions before attending Open Network Lab’s 12th Accelerator Program and launching Withfluence in August of last year. Included in this business alliance is to give the opportunity to act as an influencer on social media to actresses, actors, talent, and singers belonging to True Music (True’s entertainment division), as well as the development of processes to simplify promotion campaign requests from companies outside of Thailand, and optimizing the algorithms matching influencers with companies leveraging cognitive computing. Withfluence and True in making full use of each other’s management resources will collaborate on joint service development and…
The signing ceremony held at the Japanese ambassador’s residence in Bangkok, Thailand on Wednesday. In the front row, L to R: Hiroyuki Okamoto (CEO, Withfluence), Teerapon Tanomsakyut (Chief Innovation and Sustainability Officer, True) In the back row, L to R: Hiroki Mitsumata (Head of JETRO Bangkok office), Shiro Sadoshima (Japanese Ambassador to Thailand), Achaka Sriboonruang (Minister of Science and Technology of Thailand), Adhiruth Thothaveesansuk (Co-President of True and Group COO) Image credit: Fumi Tanaka aka Bunshow
Tokyo- / Bangkok- / Singapore-based Withfluence, the Japanese company providing an influencer marketing management platform for Asian markets under the same name, signed an MoU (memorandum of understanding) with Thailand’s second largest telco True on Wednesday.
Withfluence was founded in May of 2016 by Hiroyuki Okamoto (current CEO) who previously ran a media and advertising company in Vietnam, and Keiichi Honma (current CTO) who had been developing web services and translation apps for foreigners visiting Japan. Before Withfluence, Okamoto and Honma had developed an instant e-commerce platform described as “Asia’s version of Shopify” and based in Thailand, but changed directions before attending Open Network Lab’s 12th Accelerator Program and launching Withfluence in August of last year.
Included in this business alliance is to give the opportunity to act as an influencer on social media to actresses, actors, talent, and singers belonging to True Music (True’s entertainment division), as well as the development of processes to simplify promotion campaign requests from companies outside of Thailand, and optimizing the algorithms matching influencers with companies leveraging cognitive computing. Withfluence and True in making full use of each other’s management resources will collaborate on joint service development and distribution of the social media marketing business in Southeast Asia.
This business alliance is born from Withflurnce’s participation in the Embassy Pitch event organized by the Embassy of Thailand and the JETRO Bangkok Office in September of last year, and which also triggered the launch of the Japan-Thailand Innovation Support Network (JTIS; of which, Okamoto is serving as a director). This partnership was carried out through True Incube, True’s investment and innovation division, and the signing ceremony was held at the Japanese ambassador’s residence in Thailand on Thursday the 29th, including not only Okamoto and the True management team, but also Shiro Sadoshima, the Japanese ambassador to Thailand and Atchaka Sibunruang, the Minister of Science and Technology of Thailand.
The following is an excerpt for Okamoto’s comments.
The Government of Thailand in becoming unified with the public under the slogan of “digital economic policy” is aiming to become a hub in Southeast Asia.
We believe True, with their own TV channel, will be our strongest partner in the entertainment business of Southeast Asia. And, to meet expectations from True, we are willing to support their business development of True in other Asian countries including Japan.
Withfluence currently offers services in Japanese, English, Thai, Vietnamese, and Traditional Chinese (for Taiwan and Hong Kong). In allying with True, it appears the company is concentrating on fundraising and expanding their sales, and also focusing on new Asian markets.
Translated by Amanda Imasaka Edited by Masaru Ikeda
See the original story in Japanese. IMJ Investment Partners (IMJ-IP), a Japanese startup-focused vc firm based in Singapore and Tokyo, last week announced that it changed the company name to Spiral Ventures. To be more precise, it becomes a group under the umbrella of the Singapore-based corporation Spiral Ventures Pte Ltd (IMJ-IP, the former name), consisting of Spiral Ventures Asia Ltd (newly organized) focusing on investment activities in Japan India / Southeast Asia and Spiral Ventures Japan LLP (IMJ-IP Japan, the former name) focusing on Japan / East Asia. Yuji Horiguchi, the former Managing Partner of IMJ-IP, is appointed to CEO of Spiral Ventures Pte Ltd / Spiral Ventures Asia Ltd. Tomokazu Okuno, the former Managing Partner of IMJ-IP Japan, is appointed to General Partner of Spiral Ventures Japan LLP as well. Along with that, the firm revealed that it succeeded in MBO (management buyout). Horiguchi and other shareholders purchased the majority of the shares from the major shareholder Culture Convenience Club (CCC). Spiral Ventures Japan LLP is organized by joint capital investment of Spiral Ventures Pte Ltd and Okuno. IMJ-IP originated in the company which Horiguchi founded in 2012 while being engaged in foreign investment works at IMJ. It…
Yuji Horiguchi (CEO and Managing Partner of Spiral Ventures Pte Ltd / Spiral Ventures Asia Ltd, right) and Tomokazu Okuno (General Partner of Spiral Ventures Japan LLP, left)
IMJ Investment Partners (IMJ-IP), a Japanese startup-focused vc firm based in Singapore and Tokyo, last week announced that it changed the company name to Spiral Ventures. To be more precise, it becomes a group under the umbrella of the Singapore-based corporation Spiral Ventures Pte Ltd (IMJ-IP, the former name), consisting of Spiral Ventures Asia Ltd (newly organized) focusing on investment activities in Japan India / Southeast Asia and Spiral Ventures Japan LLP (IMJ-IP Japan, the former name) focusing on Japan / East Asia.
Yuji Horiguchi, the former Managing Partner of IMJ-IP, is appointed to CEO of Spiral Ventures Pte Ltd / Spiral Ventures Asia Ltd. Tomokazu Okuno, the former Managing Partner of IMJ-IP Japan, is appointed to General Partner of Spiral Ventures Japan LLP as well.
Capital relationship of Spiral Ventures group
Along with that, the firm revealed that it succeeded in MBO (management buyout). Horiguchi and other shareholders purchased the majority of the shares from the major shareholder Culture Convenience Club (CCC). Spiral Ventures Japan LLP is organized by joint capital investment of Spiral Ventures Pte Ltd and Okuno.
IMJ-IP originated in the company which Horiguchi founded in 2012 while being engaged in foreign investment works at IMJ. It was a purely independent VC (venture capital) having many LPs (limited partners), not a CVC (corporate venture capital) under IMJ as its name appears to indicate. In this situation, Accenture acquired a major stake in IMJ from CCC last April. Although there had been no direct capital ties between IMJ and IMJ-IP originally, IMJ-IP no longer need to call itself IMJ anymore.
One of the purposes for renaming itself this time is seemingly to clearly appeal to the current / potential LPs and the investment targets that it is a pure VC with high-level independence.
Under the new system, a new fund is about to be established. According to Horiguchi, Spiral Ventures Asia has been setting up a fund for Southeast Asia and India named Spiral Asia Global Fund, especially focusing on growth-stage startups in Southeast Asia (targeted early-stages under the old system) and early-stage startups in India.
Spiral Ventures is recognized for digging up promising startups in the Southeast Asia region from a long time ago. As an outstanding example, the portfolio startups highly recommended by Spiral Ventures, namely McClinica, PawnHero and Docquity, won the startup conference held in Osaka — HackOsaka — for three years in a row.
Horiguchi said:
Currently, the firm has one staffer in Jakarta and four in Singapore. In India, the firm utilizes the partnership with New Delhi-based Technology 9 Labs supporting the growth hack for startups. The investment target of Asia Global Fund covers a wide range of countries / regions, including seven ASEAN countries, India, Myanmar and Bangladesh.
On the other hand, Spiral Ventures Japan continues the operation of IMJ-IP Japan Fund as in the past with a new name, Spiral Ventures Japan Fund. It has gathered more than 5 billion yen (about $45 million) for the 6 billion yen (about $54 million)-scale fundraising, and Okuno said that he aims to settle it down to a 70 billion yen (about $63 million)-scale fund. LPs of Japan Fund include Japanese major enterprises and the Japanese Organization for Small and Medium Enterprises and Regional Innovation.
Okuno explains the view of Japan Fund:
As the integration with real business or the innovation of conventional business has been become a hot topic in Japan recently (rather than simple mobile techs), our investment target covers a lot of X-Tech startups. Since we had once assisted the open innovation of CCC or Tokyu (Tokyo-based private railway company), I think we have an advantage as to collaboration support between such real techs and startups.
However, that does not mean we will focus especially on open innovation. This is just a fund, so that we can deal with it if LPs have such needs.
Although the investment target of Japan Fund includes Korea and China, it is still limited to within Japan at this time due to the limitation in terms of human resources. Spiral Ventures Japan plans to increase the number of its staffers to seven, and Masao Hirano, who experienced the representative of McKinsey or Carlyle in Japan, joins the firm as Senior Advisor and Takashi Chiba, who is a Okuno’s junior since working at Deutsche Bank, also joins the firm as Principal.
Spiral Ventures Asia had invested in 39 startups while Spiral Ventures Japan had done so in 10 startups thus far, including the investment as IMJ-IP. With the establishment of the new fund and the improvement of business speed, we will likely see the name of Spiral Ventures more frequently in the news concerning fundraising.
Translated by Taijiro Takeda Edited by “Tex” Pomeroy
See the original story in Japanese. This is a part of our on-site coverage of Slush Tokyo 2017. Funderbeam, originally from Estonia, offers a blockchain-based stock exchange platform for startups. The startup’s founder and CEO Kaidi Ruusalepp took the stage at Slush Tokyo 2017 today where she announced that they have secured 2 million euros from Mistletoe, led by Japanese renowned entrepreneur/angel investor Taizo Son, and will seek to advance into the Asia-Pacific region, including Japan, under a strategic alliance. Funderbeam was founded in 2013 by Kaidi Ruusalepp, who previously served as CEO of the Estonian stock exchange Nasdaq Tallinn. Beginning in April of 2016, they added a platform that allows startups to receive funding, and a platform on which startup stocks can be traded. According to Funderbeam, the cumulative funding to date is 4.8 million dollars (according to Crunchbase it is 4.75 million dollars). Their early investors include Skype co-founder Janne Tallinn. In addition, they have fundraised 424,000 euros from their own funding platform. Funderbeam already has an office in the financial hub of London, and has already established its solid presence in the European market through business tie-ups with the Zagreb Stock Exchange in Croatia and the Ljubljana…
Funderbeam’s Kaidi Ruusalepp shaking hands with Mistletoe’s Taizo Son Image credit: Koichiro Shimojo / Slush Tokyo 2017
Funderbeam, originally from Estonia, offers a blockchain-based stock exchange platform for startups. The startup’s founder and CEO Kaidi Ruusalepp took the stage at Slush Tokyo 2017 today where she announced that they have secured 2 million euros from Mistletoe, led by Japanese renowned entrepreneur/angel investor Taizo Son, and will seek to advance into the Asia-Pacific region, including Japan, under a strategic alliance.
Funderbeam was founded in 2013 by Kaidi Ruusalepp, who previously served as CEO of the Estonian stock exchange Nasdaq Tallinn. Beginning in April of 2016, they added a platform that allows startups to receive funding, and a platform on which startup stocks can be traded. According to Funderbeam, the cumulative funding to date is 4.8 million dollars (according to Crunchbase it is 4.75 million dollars). Their early investors include Skype co-founder Janne Tallinn. In addition, they have fundraised 424,000 euros from their own funding platform.
Funderbeam’s funding/profile page on the Funderbeam platform
Funderbeam already has an office in the financial hub of London, and has already established its solid presence in the European market through business tie-ups with the Zagreb Stock Exchange in Croatia and the Ljubljana Stock Exchange in Slovenia, but in terms of global expansion, their partnership with Mistletoe and entry into the Asia-Pacific region is a first for them.
In an interview with The Bridge, Ruusalepp emphasized that priority was given to expanding into the Asia-Pacific region rather than entering the US in light of the rapid growth of the market, and that for the purpose of promoting global development they seek alliances with optimal partners who best understand the market in their regions, thus the decision was made that Mistletoe would be their strongest partner in the Asia-Pacific region.
In this vertical, the Thai Stock Exchange revealed last year that it will open a startup-focused stock trading platform in the third quarter of 2017. Additionally, in relation to startup databases, Hong Kong’s OddUp, the US’s Mattermark and CB Insights may be in competition, but for Ruusalepp, Funderbeam’s strength lies in the combination of their data (holding data analytics of 150,000 startups around the world that investors can use for investment decisions), funding, and trading.
Since the platform launch last April, the company says that investors have invested more than 2 million euros through the Funderbeam platform, and the amount of transactions total 100,000 euros in more than 80 countries.
Mistletoe’s President and CEO Taizo Son elaborated on why they invested and allied themselves with Funderbeam in the following statement. (Excerpt)
Mistletoe engages in various activities to support and grow a startup ecosystem in which entrepreneurs and startups can grow freely.
And for the healthy development of this ecosystem, a transparent and open fundraising process is one of its critical components.
With regards to how the platform is expanding into the Asia-Pacific region, both companies will explore a concrete strategy from now on.
Translated by Amanda Imasaka Edited by Masaru Ikeda
See the original story in Japanese. Among the several demo day events held from the end of last year over the beginning of this year, there was one startup that stood out. That startup is Paneo, and rather than labeling it VR (virtual reality), it seems more fitting to call it an avatar creation startup due to the company’s service called EmbodyMe. Last week the company began offering the app on Steam and in the Oculus Store. It can be used for free with Oculus Rift, Oculus Touch, and HTC Vive. EmbodyMe is a VR app that creates an avatar for a user from just one head shot; then, through the use of a head-mounted display (HMD), it allows users to communicate over the internet as if they were actually talking to each other in the real world. With communication services that use moving images and sound like Skype (and similar) there are sometimes cases where nuances and context may be missed, which would not be missed in a face-to-face situation. EmbodyMe uses an avatar to compensate for areas where online communication is less than real and provides an environment that does not require people to meet and talk. In…
Among the several demo day events held from the end of last year over the beginning of this year, there was one startup that stood out. That startup is Paneo, and rather than labeling it VR (virtual reality), it seems more fitting to call it an avatar creation startup due to the company’s service called EmbodyMe. Last week the company began offering the app on Steam and in the Oculus Store. It can be used for free with Oculus Rift, Oculus Touch, and HTC Vive.
EmbodyMe is a VR app that creates an avatar for a user from just one head shot; then, through the use of a head-mounted display (HMD), it allows users to communicate over the internet as if they were actually talking to each other in the real world. With communication services that use moving images and sound like Skype (and similar) there are sometimes cases where nuances and context may be missed, which would not be missed in a face-to-face situation. EmbodyMe uses an avatar to compensate for areas where online communication is less than real and provides an environment that does not require people to meet and talk.
In this field, Microsoft and others are developing a mechanism that will capture the human body in 3D using multiple Kinect devices, making real-time rendering possible; however, it may not be easy to prepare the environment such as when a studio is needed, etc. Facebook is also attempting something similar using Oculus, but it is difficult to obtain reality, and takes much time and effort to create.
In contrast, with EmbodyMe, it is easy to create 3D models from head shots and depict them in real time in the metaverse according to the user’s actions. The appearance of a user while talking, along with the movement of their body and expressions are reproduced so clearly that it invites amazement. Rather than capturing the whole body in 3D and transmitting it, their “clear solution” is to use an avatar to bring about ease of introduction and playful elements. Initially, they are thinking to position themselves among users of games and entertainment which work with Oculus Rift and HTC Vive, incorporating such users as early adopters of EmbodyMe.
Paneo’s CEO and engineer Issei Yoshida explained:
Right now, not everyone possesses a VR device, and we’re at the phase where the VR world is becoming more and more exciting. That’s where EmbodyMe comes in, providing users with a personal avatar to output video clips.
By posting these clips on Facebook, Twitter, etc., users can also share their avatar experiences with friends and anyone who doesn’t have a VR device, and we expect “network effect” there.
Image credit: Paneo
EmbodyMe is currently free, but Yoshida does not appear to be worried about whether a business model can be established or not. For a generation familiar with mobile games, if they sell virtual items worn by the avatar on EmbodyMe, they may be able to entice users to pay money to buy them. When the world was fascinated by the Second Life metaverse large companies in Japanese opened virtual offices or branches out there, so it is also in no way difficult to imagine the possibility of advertising in the VR space as well.
Yoshida also mentioned the immediate priorities at Paneo, including to brush up the VR app, and to release the SDK, which enables third party developers to develop content and games using EmbodyMe’s avatar function. They have already received many requests from third party developers, so they are aiming to release the SDK (software developer kit) within 2017.
The Paneo team Image credit: Paneo
Paneo team members Issei Yoshida (CEO/Engineer), Yuri Kashima (Co-founder, Designer, Modeler), and Yuki Tanabe (Engineer) are all previously from Yahoo Japan where they developed new apps and engaged in design. Two apps produced by them, Face Stealer and Avatar Phone, were selected as the Innovative Technologies 2015 award by the Ministry of Economy, Trade, and Industry. (Both apps are no longer available.) Additionally Yoshida was involved in the development of a “social memo site” and selected as a prominent IT engineer by a Japanese governmental agency during his university days. Taking a glimpse at their trajectory, it is possible to see their consistent devotion to the two concepts of social networking and avatars even years before sophisticated VR devices came out.
Image credit: Paneo
Will the day come when communication through VR surpasses that of chatting apps like Skype and Line? Of course, depending on the use case, users will use tools differently; but, in terms of enterprise software, it is easy to imagine that the areas of teleconferencing solutions dominated by Cisco and Avaya will evolve into a setup like Paneo, or be replaced by a setup like Paneo.
Paneo was established in June of 2016. Along with the launch of EmbodyMe the company announced that it had raised 90 million yen (roughly $817K US) from Japanese startup VC Incubate Fund. They will be exhibiting at the SVVR (Silicon Valley Virtual Reality) conference this week, so we can look forward to hearing more about the market reaction in the US.
Translated by Amanda Imasaka Edited by Masaru Ikeda
The Bridge
Takeshi Hirano
Masaru Ikeda
