By selling IoT subsidiary, Cerevo wants to help Panasonic boost digital transformation

Takuma Iwasa (Former CEO of Cerevo, new CEO of Shiftall)
Image credit: Rick Martin / The Bridge

See the original story in Japanese.

Japanese smart consumer electronics startup Cerevo announced on Monday that it has set up a subsidiary specialized in agile hardware manufacturing called Shiftall. In addition, the company has also sold the subsidiary’s entire stake to Panasonic. Takuma Iwasa will step down as CEO of Cerevo to be appointed as that for the new company.

Prior to launching Cerevo back in 2007, Iwasa was being involved in developing connected consumer electronics products like Lumix (digital camera) and Diga (video recorder) at Panasonic. We’ve seen Cerevo has been collaborating with the consumer electronics giant in supporting hardware startups.

Meanwhile, Panosonic is celebrating the 100th anniversary this year while launching several initiatives so that they can rejuvenate their organization  to keep producing innovations. In addition to establishing a startup collaboration space called 100BANCH in partnership with Loftwork and Cofe Company, Panasonic started working with Tokyo-based Creww, a key driver helping enterprises conduct open innovation initiatives, to run the Panasonic Accelerator program in Japan. Furthermore, our readers may recall that the company’s in-house new business initiative Game Changer Catapult showcased several innovative products at SXSW in Austin last month.

For Panasonic, the Shiftwall acquisition with Iwasa can been seen as a trump card to boost these open innovation activities from within the company.

See this link for more Cerevo-related articles.

Translated by Masaru Ikeda