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Tokyo-based Abeja, the company offering solutions for retail stores to improve customer path or traffic based on image analysis and machine learning technologies, announced on Tuesday that it has secured funding from Google in a series C extension round. The company says this brings their total equity funding to date to over 6 billion yen (approximately US$53 million US). The company hasn’t disclosed financial terms on the latest round from Google but it can be estimated worth 1 billion yen or 10 million US based on their past funding records.
Abeja has provided their AI-powered analytics suite Abeja Platform to more than 150 companies while over 520 stores at more than 100 companies have adopted Abeja Insight for Retail, their retail industry store analysis solution.
Founded in September of 2012, followed by graduation from the 1st batch of the Orange Fab Asia acceleration program, Abeja has raised an undisclosed sum in an angel and a seed round. Subsequently, the company has raised six figures in US dollars from Salesforce in a series A round back in 2014, followed by securing 700 million yen (about $7 million at the exchange rate then) in a series B round from INCJ, Archetype, Inspire-PNB Partners back in 2016 as well as securing 4.25 billion yen ($38.4 million at the exchange rate then) in a series C round from 9 investors including VC firms and business companies back in June this year.
Translated by Masaru Ikeda
Edited by “Tex” Pomeroy