Japan’s Candee secures $21.5 million to expand into sports livestreaming business

Candee’s management team: (From left) CEO Kazuki Kogishi, CSO Yoshikatsu Yamamura, CCO Takuro Arai, external director Masatoshi Fukasawa

This is the abridged version from our original article in Japanese.

Tokyo-based Candee, a livestreaming startup focused on millennials such as producing the “Live Shop!” livestreaming e-commerce platform, announced today that it has raised 2.45 billion yen (about $21.5 million US) from seven companies.

This round was led by Eight Roads Ventures Japan with participation from NTT docomo Ventures, Opt Ventures, Gree, Daiichi Shokai (pachinko maker in Nagoya), Mizuho Capital and YJ Capital. YJ had participated in the previous round. Details of financial terms have not been disclosed.

Coinciding with this funding, the company announced that Masatoshi Fukasawa, principal of Eight Roads, was appointed to join its board of directors.

The company has been developing various kinds of livestreaming content and platforms centering around three keywords: smartphone first, social and interactive. With aim to execute this vision, the company launched the Live Shop platform targeting females in their teens to twenties.

According to Candee CEO Kazuki Kogishi, the company has started a trial of sports livecasting on the platform in partnership with NTT docomo. Details have not been disclosed but it appears they will offer the type of content that casual sports fans can enjoy watching from before the game until after it.

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Translated by Masaru Ikeda
Edited by “Tex” Pomeroy