Japan’s estate startup Renoveru gets $11.8M from Mitsui to bring smart tech into homes

Renoveru’s Connectly Lab. showroom
Image credit: Renoveru

Tokyo-based real estate startup Renoveru helps consumers to choose and buy existing homes or a second-hand flats while proposing renovation plans both online and offline. The company announced on Tuesday that it has fundraised 1.3 billion yen (about $11.8 million) from Japanese trading giant Mitsui & Co. (TSE:8031).

In addition to these services, Renoveru also offers an online tool that allows homebuilders to easily share renovation plans and pictures with carpenters, construction supervisors and architects. The company also offers a distribution service of construction materials and equipments through its subsidiary.

Upon funding by and partnership with Mitsui, Renoveru claims that it will focus more on developing a smart home business, which implements smart key solutions, connected consumer electronics and other IoT (Internet of Things) devices into existing homes.

Since its launch back in April of 2010, Renoveru has secured funding from Tokyu Corporation (TSE:9005), Globis Capital Partners, Vector Group International, Aucfan (TSE:3674), GMO Venture Partners, Mitsui Sumitomo Insuarance Venture Capital, Seibu Shinkin Capital, and others.

Edited by “Tex” Pomeroy