Tokyo-based Colorful Board, the Japanese startup offering a fashion coordination app leveraging artificial intelligence called Sensy, announced today that it has fundraised 800 million yen (about $7.2 million) from Mic, TSI Holdings (TSE:3608), and Vinx (TSE:3784). The latest funds means that the company has secured a total of more than 1.1 billion yen (about $9.9 million) since the launch.
Mic, one of the companies participating in this round, is a subsidiary of Haruyama Holdings which operates a leading men’s clothing store chain across Japan. Coinciding with funding, Mic also announced that it has partnered with TSI Holdings and Vinx.
Colorful Board has been working on an AI-powered personalization marketing effort on fashion together with Haruyama Holdings, which is seeing a good result. In addition to strengthen the partnership, the company claims that they will start research and development on suggesting styling tips to users.
This guest post is authored by Mark Bivens. Mark is a Silicon Valley native and former entrepreneur, having started three companies before “turning to the dark side of VC.” He is a venture capitalist that travels between Paris and Tokyo (aka the RudeVC). You can read more on his blog at http://rude.vc or follow him @markbivens. The Japanese translation of this article is available here. One of the most powerful yet understated human emotions is under threat. Empathy is the capacity for understanding, being aware of, being sensitive to, and vicariously experiencing the feelings, thoughts, and experience of another. In contrast with its close cousin sympathy, empathy approaches a truer shared experience. It is more credible because the empathizer has been in your shoes, and thus shares your experiences and values. The trouble is, businesspeople are glamming onto the concept of empathy in order to self-promote or simply sell more crap. Purveyors of cars, cat food, and coffee are increasingly telling us not only which brands we should buy but how we could live our lives based on collective shared values. On-demand transportation services commiserate with our suppression by the transportation incumbents and entice drivers to break free of their…
This guest post is authored by Mark Bivens. Mark is a Silicon Valley native and former entrepreneur, having started three companies before “turning to the dark side of VC.” He is a venture capitalist that travels between Paris and Tokyo (aka the RudeVC). You can read more on his blog at http://rude.vc or follow him @markbivens. The Japanese translation of this article is available here.
One of the most powerful yet understated human emotions is under threat. Empathy is the capacity for understanding, being aware of, being sensitive to, and vicariously experiencing the feelings, thoughts, and experience of another. In contrast with its close cousin sympathy, empathy approaches a truer shared experience. It is more credible because the empathizer has been in your shoes, and thus shares your experiences and values.
The trouble is, businesspeople are glamming onto the concept of empathy in order to self-promote or simply sell more crap.
Purveyors of cars, cat food, and coffee are increasingly telling us not only which brands we should buy but how we could live our lives based on collective shared values. On-demand transportation services commiserate with our suppression by the transportation incumbents and entice drivers to break free of their shackles. Travel and lodging services remind us that by staying at their properties we celebrate the aiding of refugees, or help the world come together. Even VCs are clamoring to express how much empathy they have for the entrepreneurs in whom they invest.
Admittedly, I’ve been guilty of this last one. I used to emphasize how my three prior startups, which included two flame-outs, make me a better VC.
I’ve been in your entrepreneurial shoes, with some success yet not devoid of frequent struggle and disastrous failure, so this makes me a better financial partner for your startup.
I would claim. Actually, I genuinely believe this, but it now feels contrite when I say it.
Perhaps the extent to which empathy as an advertising technique has become fashionable is best demonstrated by this video ad from the InterContinental hotel brand. Stories of the InterContinental Life Presents: Empathy – A Bespoke Connection.
The accompanying podcast’s episode notes characterize it as a “chat with a pair of philosophy experts about the rewards of empathy in our daily lives.”
As this trenchant piece in The Atlantic sums up perfectly, current ads that evoke the ethic of empathy reflect not only our cultural moment but also our technological one. They focus on empathy-infused user experiences which put the “sell” in the celebration of human connection.
I fear that empathy is jumping the shark, and that triggers my profound sympathy.
See the original story in Japanese. 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. See also: Japanese fish delivery startup Hachimenroppi secures $4.5 million funding Japanese fish delivery startup partners with JCB, eases restaurants’ credit purchases Japanese fish delivery startup finds underserved markets using heat maps Japanese fish delivery startup making waves, raises $1.5 million 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…
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
The Bridge
This guest post is authored by Mark Bivens. Mark is a Silicon Valley native and former entrepreneur, having started three companies before “turning to the dark side of VC.” He is a venture capitalist that travels between Paris and Tokyo (aka the RudeVC). You can read more on his blog at 
Takeshi Hirano
Masaru Ikeda
