The creator of the Ring wearable device, Silicon Valley- / Tokyo-based startup LogBar, has just unveiled a new product called ‘iLi‘ at CES 2016 in Las Vegas. The iLi is a pendant worn around the neck that will translate between English, Japanese, and Chinese. Thanks to a built-in engine for speech recognition/synthesis and translation, Wi-Fi or other Internet connections are not needed to use iLi.
The device has a button on its surface, which looks like the fingerprint sensor design on the iPhone. Users have to push it before speaking so that the device can recognize their speech and synthesize its translated result. The product price has not been announced, but it is said to be “affordable” as it opens up for pre-orders in March or April. The second version of iLi will handle French, Thai, and Korean, and the third version will add Spanish, Italian, and Arabic options. In addition to product sales, LogBar is exploring establishing a business network leveraging the device as a business model. The company may partner with travel agencies, hotels, transport operators, and car rental services, which cater to tourists and business travelers.
Since the device specs have yet to be unveiled, it is uncertain whether or not the device is technically possible, or just vaporware. However, this is definitely the thing that turns ‘Honyaku Konyaku’ or translation jelly, a popular Sci-Fi gadget seen in the Doraemon Japanese comic series, into a reality. Following Jeplan which has recently developed the real De Lorean dream car from the Back to the Future movie, we are looking forward to the success of a Japanese startup attempting to turn Sci-Fi gadgets into a reality.
See the original story in Japanese. AirCloset is an outstanding startup in the Japanese fashion rental industry. Launched back in February of 2015, the company has been providing a subscription-based fashion item rental service for females under the same name. Its users combined surpasses 70,000 for now, which rapidly grew from 65,000 users in October of 2015. AirCloset announced today that it has fundraised slightly less than 1 billion yen (about $8 million) from several companies. Participating investors in this round include Jafco (TSE:8595, investment firm), Nakazono Holdings (operator of “White Kyubin” laundry shop chain), Saison Ventures (investment arm of credit card company Credit Saison), and Terrada Warehouse. With funding from such major companies, AirCloset will strengthen its structure by securing the financial base and maximizing business synergies between the warehouse management and laundry service businesses. Looking at what kind of synergies can be achieved with aforementioned investors, Terrada Warehouse, for examples, runs Minikura, a subscription-based box storage service which can be managed on the web. AirCloset partnered with the warehouse company slightly after launch, followed by securing funds from it in April of 2015. Going forward, the two companies will work together to streamline the logistics operations of accepting,…
AirCloset is an outstanding startup in the Japanese fashion rental industry. Launched back in February of 2015, the company has been providing a subscription-based fashion item rental service for females under the same name. Its users combined surpasses 70,000 for now, which rapidly grew from 65,000 users in October of 2015.
AirCloset announced today that it has fundraised slightly less than 1 billion yen (about $8 million) from several companies. Participating investors in this round include Jafco (TSE:8595, investment firm), Nakazono Holdings (operator of “White Kyubin” laundry shop chain), Saison Ventures (investment arm of credit card company Credit Saison), and Terrada Warehouse. With funding from such major companies, AirCloset will strengthen its structure by securing the financial base and maximizing business synergies between the warehouse management and laundry service businesses.
Looking at what kind of synergies can be achieved with aforementioned investors, Terrada Warehouse, for examples, runs Minikura, a subscription-based box storage service which can be managed on the web. AirCloset partnered with the warehouse company slightly after launch, followed by securing funds from it in April of 2015. Going forward, the two companies will work together to streamline the logistics operations of accepting, storing, managing, and shipping items, aiming to provide customers with improved services. In partnership with Nakazono Holdings running 8,500 laundry shops nationwide in Japan, AirCloset will work on strengthening its service operations.
AirCloset was founded by Satoshi Amanuma, Yusuke Maekawa, and Shoichi Kotani 18 months ago. The service has attracted many users since its pre-registration launch in late October of 2014, steadily growing its user base. It delivers a new endeavor with a surprise to our daily lives upon enjoying fashion. Having powerful supporters onboard, we cannot but keep our eyes on how AirCloset will fare from now on.
Translated by Masaru Ikeda Edited by “Tex” Pomeroy
See the original story in Japanese. Tokyo-based startup Medley announced in December that it had fundraised a total of 230 million yen (about $1.9 million) from Nikkei Business Publications (Nikkei BP), East Ventures, and Japanese angel investor Yuzuru Honda. East Ventures have invested in Medley in the past while Honda is the CEO of Japanese adtech company FreakOut (TSE:6094). The latest funding follows the company’s previous round in June of 2015, having raised 300 million yen (about $2.5 million) from Mitsui Sumitomo Insuarance Capital, MRT (TSE:6034, medical human resource), and Gree (TSE:3632, mobile gaming), as well as other angel investors. Medley provides an online job board for medical professionals, called Job Medley, as well as an online disease encyclopedia called Medley. Coinciding with the latest funds, Medley will partner with Nikkei BP to integrate Job Medley with Nikkei Medical Online, the publisher’s comprehensive information portal site for medical professionals. By utilizing the mutual strengths of both companies, they are looking to develop new services for 510,000 registered users of the portal site, encompassing 130,000 medical doctors. Medley CEO Kohei Takiguchi explained: Combining Nikkei Medical Online with our strength that engineers and medical professionals provide our services, I believe that both…
The Medley team: CEO Kohei Takiguchi stands third from left, Co-CEO/medical doctor Goichiro Toyoda stands on right.
Tokyo-based startup Medley announced in December that it had fundraised a total of 230 million yen (about $1.9 million) from Nikkei Business Publications (Nikkei BP), East Ventures, and Japanese angel investor Yuzuru Honda. East Ventures have invested in Medley in the past while Honda is the CEO of Japanese adtech company FreakOut (TSE:6094). The latest funding follows the company’s previous round in June of 2015, having raised 300 million yen (about $2.5 million) from Mitsui Sumitomo Insuarance Capital, MRT (TSE:6034, medical human resource), and Gree (TSE:3632, mobile gaming), as well as other angel investors.
Medley provides an online job board for medical professionals, called Job Medley, as well as an online disease encyclopedia called Medley. Coinciding with the latest funds, Medley will partner with Nikkei BP to integrate Job Medley with Nikkei Medical Online, the publisher’s comprehensive information portal site for medical professionals. By utilizing the mutual strengths of both companies, they are looking to develop new services for 510,000 registered users of the portal site, encompassing 130,000 medical doctors.
Medley CEO Kohei Takiguchi explained:
Combining Nikkei Medical Online with our strength that engineers and medical professionals provide our services, I believe that both companies can better grow their businesses leveraging the mutual strengths.
The capital raised from this fundraising will be used to develop new collaborative services and for their operation. Although there is no official release of service content, they are creating brand new content for healthcare professionals.
We were told that the funds will be used to develop and operate a new service. Details of that are not yet disclosed but the company claimed that it will be something new for medical professionals.
The Job Medley platform has been steadily growing to date, building a sold revenue base for the company. It lists 47,055 positions for job-seeking medical professionals as of this writing. Instead of such a huge number of job postings, however, Takiguchi says that his team have fulfilled only about 10% of their objective which expects to list all positions available online.
Medley, the online medical resource, has attempted to enhance its service coverage, by adding a special feature page for prevention of influenza as well as a hospital search according to symptoms or the method of treatment. These efforts are based on the team’s intention to improve accessibility to existing medical database services for the public.
Takiguchi added:
Since existing medical database services are incomplete, we needed to build our own from scratch. It took more than expected to complete, but we have almost completed gathering and organizing symptoms, medical supplies, hospitals, and other related metadata information. We think that the next step is to provide users value based on our database. Using the symptom-based disease search function as well as the infection risk prediction model, we will explore new types of online medical services for users in 2016.
Medley has been receiving huge funding throughout 2015. The company has been devoted to developing the Job Medley platform to enhance the business prospects while developing the Medley database service to better serve users. They are steadily moving forward to disrupt the medical industry by inventing new online services.
Translated by Mariko Kobayashi via Mother First Edited by “Tex” Pomeroy and Masaru Ikeda
See the original story in Japanese. Tokyo-based Skyland Ventures, a VC firm focusing on seed-stage startups, announced the launch of its second fund today. The fund of $1.2 billion yen ($10 million) will be for investment in about 30 startups. See also: Up-and-coming investor hosts startup event in Tokyo, encourages global entrepreneurship Skyland Ventures CEO Yoshihiko Kinoshita says their typical scheme consists of a 15 million yen ($125,000) initial investment in a startup in a seed round with a potential follow-up investment of 5 million yen to 50 million yen ($42,000 to $420,000). Based on the scheme, Skyland Ventures wants to hold a 10% stake in the startup after its second round funding. Kinoshita says that his fund will make investments in several batches rather than doing a one-time major investment, in order to reduce the risk that the fund’s large stake in a startup may make it harder to get follow-up funding from other investors. Kinoshita has been conducting 15-minute mentoring sessions for acting and aspiring entrepreneurs every Wednesday. Through this effort, he has made investments in 20 startups in the last 40 months. The new fund will invest in startups in virtual reality, artificial intelligence, movie communication, smart…
Skyland Ventures’ Yoshihiko Kinoshita (middle) and other members
Tokyo-based Skyland Ventures, a VC firm focusing on seed-stage startups, announced the launch of its second fund today. The fund of $1.2 billion yen ($10 million) will be for investment in about 30 startups.
Skyland Ventures CEO Yoshihiko Kinoshita says their typical scheme consists of a 15 million yen ($125,000) initial investment in a startup in a seed round with a potential follow-up investment of 5 million yen to 50 million yen ($42,000 to $420,000). Based on the scheme, Skyland Ventures wants to hold a 10% stake in the startup after its second round funding.
Kinoshita says that his fund will make investments in several batches rather than doing a one-time major investment, in order to reduce the risk that the fund’s large stake in a startup may make it harder to get follow-up funding from other investors.
Kinoshita has been conducting 15-minute mentoring sessions for acting and aspiring entrepreneurs every Wednesday. Through this effort, he has made investments in 20 startups in the last 40 months.
The new fund will invest in startups in virtual reality, artificial intelligence, movie communication, smart robotics, and other Internet sectors. Combining with portfolio startups in the previous fund, Skyland Ventures expects to have invested in 50 startups within two years.
Coinciding with the announcement, Skyland Ventures unveiled that they have invested in the following six startups:
TechCrunch Japan reported last week that Tokyo-based Freee, a Japanese startup behind a cloud-based accounting platform under the same name, has fundraised 1 billion yen ($8.3 million) from several investors including FinTech Fund, an investment fund recently launched by a subsidiary of Japanese financial service giant SBI Holdings (TSE:8473). In conjunction with the previous series C round funding in August, the latest funding means the company has fundraised 4.5 billion yen ($37.3 million) in 2015 to become the most-funded unlisted company in Japan last year. Meanwhile, SBI Holdings recently announced a strategic partnership with Yello Mobile, a Seoul-based conglomerate of Korean mobile startups, for cultivating FinTech businesses in Japan and Southeast Asia. Currently serving over 400,000 companies in Japan, the company announced in December that it has partnered with 11 Japanese megabanks including Bank of Tokyo-Mitsubishi UFJ (BTMU) and Mizuho Bank, giving them an access to accounting data of SMEs and freelancers using the Freee platform upon their approval so that these banks can provide new financial services such as loans using the data for eligibility of expenditures. In contrast to a study by University of Oxford predicting artificial intelligence will replace many jobs including accountants, Freee CEO Daisuke Sasaki…
Freee CEO Daisuke Sasaki
TechCrunch Japan reported last week that Tokyo-based Freee, a Japanese startup behind a cloud-based accounting platform under the same name, has fundraised 1 billion yen ($8.3 million) from several investors including FinTech Fund, an investment fund recently launched by a subsidiary of Japanese financial service giant SBI Holdings (TSE:8473).
In conjunction with the previous series C round funding in August, the latest funding means the company has fundraised 4.5 billion yen ($37.3 million) in 2015 to become the most-funded unlisted company in Japan last year. Meanwhile, SBI Holdings recently announced a strategic partnership with Yello Mobile, a Seoul-based conglomerate of Korean mobile startups, for cultivating FinTech businesses in Japan and Southeast Asia.
Currently serving over 400,000 companies in Japan, the company announced in December that it has partnered with 11 Japanese megabanks including Bank of Tokyo-Mitsubishi UFJ (BTMU) and Mizuho Bank, giving them an access to accounting data of SMEs and freelancers using the Freee platform upon their approval so that these banks can provide new financial services such as loans using the data for eligibility of expenditures.
In contrast to a study by University of Oxford predicting artificial intelligence will replace many jobs including accountants, Freee CEO Daisuke Sasaki does not think this will happen because accountants will be able to provide business owners with useful advice on business decisions by leveraging automated systems like Freee.
The content of this article first appeared on CNET Japan. It has been translated and reproduced by The Bridge with the approval of CNET Japan and the author of this article. (Text by Yuki Yamadai, Photography by Takao Tsushima) The Third CNET Japan Startup Awards ceremony was held on December 10th. The CNET Japan Startup Awards are given to startups that were noticed in 2015 and chosen. Selection was done by CNET Japan as well as The Bridge’s editorials with five startups receiving awards. In addition to the award ceremony, a variety of lectures as well as discussion panels were held with guest speakers. In this article I will be reporting on a discussion that was held on the topic of “How Japanese Media and Foreign Media View Startups in Japan.” The discussion featured four reporters from Japan and abroad and was moderated by The Bridge’s Masaru Ikeda. See also: Articles on past CNET Japan Startup Awards events A discussion between four reporters from Japan and abroad First, an introduction of the four panels members. Serkan Toto worked as a Tokyo-based writer for the world’s biggest tech blog, TechCrunch, from 2008 to 2012. Currently he is the CEO of a…
The content of this article first appeared on CNET Japan. It has been translated and reproduced by The Bridge with the approval of CNET Japan and the author of this article. (Text by Yuki Yamadai, Photography by Takao Tsushima)
In addition to the award ceremony, a variety of lectures as well as discussion panels were held with guest speakers. In this article I will be reporting on a discussion that was held on the topic of “How Japanese Media and Foreign Media View Startups in Japan.” The discussion featured four reporters from Japan and abroad and was moderated by The Bridge’s Masaru Ikeda.
A discussion between four reporters from Japan and abroad
First, an introduction of the four panels members. Serkan Toto worked as a Tokyo-based writer for the world’s biggest tech blog, TechCrunch, from 2008 to 2012. Currently he is the CEO of a Tokyo-based consulting company for the video game industry, called Kantan Games. Richard Solomon is the editor of his self-published Beacon Reports and Nikkei Asian Review, as well as a contributing writer of articles on Japanese startups for the Japan Times.
Serkan Toto, Freelance Journalist / Kantan Games CEO
Tim Romero is an entrepreneur who came to Japan twenty years ago, having since established four companies. He is also the host of a podcast program called Disrupting Japan. From CNET Japan, Ryo Fujii, an editor/writer covering Japanese web services and mobile carriers, also participated in the discussion.
What is the most interesting startup in Japan?
The discussion proceeded while referring to the results of a questionnaire that was completed by both Japanese and international writers and media partners.
The first topic of the questionnaire was “What is the most intersting startup in Japan?” Results from the questionnaire included Whill, a startup developing stylish electric wheelchairs, Eureka, a social matching service, Preferred Networks, promoters of the use of real-time machine learning technology in business, Wantedly, a business social network specializing in searching for interns, and others. There was also a percentage of responses from people who said “nothing particular comes to mind.”
Surely there are some startups among the questionnaire results that the discussion panel members recognize. Picking out Preferred Networks, Toto remarked that as for their field, the video game market,
Japan has reached maturity, but in the past year no significant startups have come out.
Richard Solomon, Beacon Reports
Solomon, who wrote about Whill three years ago, cited another recognized startup, C Channel, the video sharing social network founded by messaging app Line’s ex-CEO Akira Morikawa. He explained that he sees Japan’s startup scene as being in a transitional phase, until now remaining in a outdated post industrial revolution state, but is now right on the verge of moving to the next level.
On the other hand, Romero, citing crowdsourcing platform CrowdWorks and curated news app Smartnews as examples, sees Japan as having a lot of interesting startups. He explained that one main difference between the startup scene in the US compared to Japan, is that in Japan startups are often founded by entrepreneurs who have left positions at major Japanese companies and thus have a wealth of experience to draw on, making it easier for such startups to succeed.
CNET Japan’s Fujii made note of services that have moved into IoT territory, not limiting themselves only to the web. Especially in 2015, similarly to how mobile healthcare startup FiNC received funding from, for example, ANA (All Nippon Airways), looking back Fujii noted that this has been a year of progress in collaboration between startups and major corporations. He also added that cases where startups have been founded internally in large corporations are also increasing.
On what criteria do journalists choose startups?
The next topic for discussion was, “On what criteria do you choose startups to write articles about?” Questionnaire responses centered around criteria such as “originality” and “the entrepreneur’s vision”.
Serving as discussion moderator, The Bridge’s Masaru Ikeda
Discussion moderator Ikeda, a writer and journalist himself, pointed out that “there are startups that can’t very well differentiate PR from media.” Ex-writer for TechCrunch Toto agreed,
That’s true, there are people who misunderstand that difference. What writers and journalists are thinking about is the reader, what the reader is interested in. Why not try approaching media from the same point of view?
As a podcaster himself, Romero’s idea of journalism is a little bit different from journalism as information disseminated in text.
Podcasts are a type of media where you can directly hear the person’s voice, so I want to share that human aspect.
Japanese people, however, generally prefer not to display that “human aspect”, so therein lies somewhat of a challenge, Romero explained.
When searching for startups to write about, Fujii says he looks for “societal potential” and “ability to help large numbers of people overcome challenges”. If, say, some kind of progressive technology is created but we can’t see any concrete application for it in society, we won’t write about the technology on its own, Fujii explained. He also shared that at CNET Japan, they aren’t particularly picky about the scale of the companies they write about, rather, if it is determined that there is information that has some value to the world, they believe it should be shared equally whether it comes from major corporations or startups.
Ryo Fujii, CNET Japan writer/editor
A message to startups in Japan
The discussion’s final theme was, “What message would you like to send to startups in Japan?” One opinion that was frequently present in the questionnaire results was “Please issue press releases in English.” To this, all members of the discussion panel agreed.
Toto brought up what Japanese companies often consider “globalization”.
Hiring one foreigner and putting that person in charge of all international business… that’s not global.
Toto flatly stated.
Hire someone to do the work of globalization and you’ve created a total divide. Instead, companies should make their whole team global.
Moving on to Romero, he said with a wry smile,
I’ve lived in Japan for twenty years and my Japanese isn’t perfect, so I can’t blame anybody for not being able to speak English.
He asserted, however, that for companies that want to globalize, not only language but knowledge of the international market is what is really needed. Companies need to think more about what kind of value they can offer to the international community.
Tim Romero, Disrupting Japan
Closing out the discussion, CNET Japan’s Ryo Fujii, citing LINE’s success internationally as a precedent, expressed his opinion regarding globalization.
There have been a lot of companies that tried to expand into the US and failed, but why not first try moving into the Asian market, where at least the culture is somewhat similar?