Japan’s weight-loss startup FiNC fundraises, appoints former Mixi and Opt CEOs as advisors

From the left: Yusuke Asakura (advisor), CFO Fumio Norimatsu, CEO Yji Mizoguchi, and Tomohito Ebine (advisor)

See the original story in Japanese.

FiNC is a Tokyo startup that provides online weight loss and dietary advice based on a scientific approach such as genetic testing. The company announced today that it has raised a series A round of an undisclosed sum from Itochu Technology Ventures, Gree Ventures, Link and Motivation, MID Venture Capital, former Mixi CEO Yusuke Asakura and former Opt CEO Tomohito Ebine. The company also unveiled that it has obtained large loans from Mizuho Bank and other financial institutions.

Coinciding with the funds, Asakura and Ebine joined the company as strategic advisors. Asakura said the company represents a great advancement in the fitness industry and has a highly-talented engineering team and that he will aggressively support the company expand in Japan and globally. Ebine said the company is well-balanced with fresh talent and skilled people. In a view of Japan’s aging population, he sees a huge market and a great potential business in developing solutions that improve people’s health and increase life expectancy.

The FiNC online diet coach service helps users achieve their weight-loss goals. When a user mails their genetic and blood samples along with their lifestyle and dietary information to FiNC, they will receive dietary and fitness advice from certified dietitians and fitness trainers via smartphone.

FiNC CEO Yuji Mizoguchi expects that within five years the company will have an IPO and that one person in ten in Japan will be using their service.

He added:

We welcome Asakura and Ebine on board, both having launched and IPO-ed their startups. Akukura is the same generation as us and greatly motivates us in our work. He will provide us with his extensive knowledge in cutting-edge areas in the world, which is definitely required for our global business expansion. Ebine is good at establishing alliances between startups and established companies. There will be many things that we can learn from him. We want to leverage his vast network in the healthcare industry.