Tokyo-based Base Food, developing nutritionally complete food products capable of becoming staple foods named Base Pasta and Base Bread, announced on Monday that it has secured 400 million yen (about $3.7 million US) in a series A round. Participating investors in this round are Rakuten Ventures, XTech Ventures, Global Brain, and several unnamed angel investors. This follows their previous seed round funding from Global Brain back in November of 2017.
With this funding, the startup expects to expand their business globally in partnership with Japanese e-commerce company Rakuten, the parent of Rakuten Ventures. We were told that this effort targets the US market in particular, where two-thirds of their adults and one-third of children overweight or obese and are trying to be more conscious about nutrition and health management.
Base Food is the food-tech startup founded in April of 2016 by Shun Hashimoto, formerly engaged in the autonomous driving business at DeNA and other activities. The company targets those who do not know which nutrients to take, as a complete nutritious food allowing intake of 31 kinds of nutrients just in a single meal. It does not only have functional immediacy, but also provides satisfaction with its delicious taste and can become a staple food.
See the original story in Japanese. Tokyo-based Pixie Dust Technologies, the Japanese startup developing digital fabrication and AI-based solutions, announced on Thursday that it has secured series B round funding. Participating investors in this round include INCJ, SBI Investment, Toppan Printing, SMBC Venture Capital, CSV Venture Fund (managed by NEC Capital Solution and Venture Labo Investment), Mizuho Capital, KDDI Open Innovation Fund (managed by Global Brain), K4 Ventures, Dai-ichi Life Insuarance, and Dentsu. In addition to raising 3.85 billion yen ($35.1 million US) from these investors, the company has secured a loan commitment worth up to 1 billion yen ($9.1 million US) from Shoko Chukin Bank. When altogether, the company can make the most of up to 4.85 billion yen ($44.3 million US) financing. Pixie Dust Technologies will use the funds to hire people, strengthen R&D facilitates, invest in IP strategies as well as enhance technology portfolio to promote co-development of solutions centered on Hagen, the company’s proprietary ultrasonic phased array system, Founded back in May of 2017, the company was led by two CEO Yoichi Ochiai, Associate Professor at University of Tsukuba, and COO Taiichiro Murakami who previously worked at a strategy consulting firm. Translated by Masaru Ikeda
Tokyo-based Pixie Dust Technologies, the Japanese startup developing digital fabrication and AI-based solutions, announced on Thursday that it has secured series B round funding.
Participating investors in this round include INCJ, SBI Investment, Toppan Printing, SMBC Venture Capital, CSV Venture Fund (managed by NEC Capital Solution and Venture Labo Investment), Mizuho Capital, KDDI Open Innovation Fund (managed by Global Brain), K4 Ventures, Dai-ichi Life Insuarance, and Dentsu.
In addition to raising 3.85 billion yen ($35.1 million US) from these investors, the company has secured a loan commitment worth up to 1 billion yen ($9.1 million US) from Shoko Chukin Bank. When altogether, the company can make the most of up to 4.85 billion yen ($44.3 million US) financing.
Pixie Dust Technologies will use the funds to hire people, strengthen R&D facilitates, invest in IP strategies as well as enhance technology portfolio to promote co-development of solutions centered on Hagen, the company’s proprietary ultrasonic phased array system,
Founded back in May of 2017, the company was led by two CEO Yoichi Ochiai, Associate Professor at University of Tsukuba, and COO Taiichiro Murakami who previously worked at a strategy consulting firm.
This is a guest post by Sushi Suzuki, Founder and Lead Organizer of Kyoto Startup Summer School. Sushi is a specially appointed associate professor at the Kyoto Institute of Technology and KYOTO Design Lab where he teaches Design Thinking, innovation, and entrepreneurship. He is responsible for ME310/SUGAR, a nine-month innovation program that originated in Stanford University and expanded globally. Previously, Sushi co-founded Paris Est d.school while teaching design innovation at École des Ponts ParisTech and was the Executive Director of the ME310 program at Stanford University. he also set up an innovation team for Panasonic Europe, was one of the co-founding members of i-kimono.com, a Japanese start-up company that handles antique kimono and accessories online. Sushi was born in Kyoto, Japan but spent over fifteen years in the US and over five in Europe and has traveled to over sixty countries. He holds a M.S. in Mechanical Engineering from Stanford University and a B.S. in Mechanical Engineering and B.A. in Studio Arts from Rice University. Kyoto Startup Summer School is a two-week entrepreneurship program hosted by the KYOTO Design Lab (D-Lab) at the Kyoto Institute of Technology. The program, conducted entirely in English, brings together over sixty participants, workshop facilitators,…
Sushi is a specially appointed associate professor at the Kyoto Institute of Technology and KYOTO Design Lab where he teaches Design Thinking, innovation, and entrepreneurship. He is responsible for ME310/SUGAR, a nine-month innovation program that originated in Stanford University and expanded globally.
Previously, Sushi co-founded Paris Est d.school while teaching design innovation at École des Ponts ParisTech and was the Executive Director of the ME310 program at Stanford University. he also set up an innovation team for Panasonic Europe, was one of the co-founding members of i-kimono.com, a Japanese start-up company that handles antique kimono and accessories online.
Sushi was born in Kyoto, Japan but spent over fifteen years in the US and over five in Europe and has traveled to over sixty countries. He holds a M.S. in Mechanical Engineering from Stanford University and a B.S. in Mechanical Engineering and B.A. in Studio Arts from Rice University.
Kyoto Startup Summer School is a two-week entrepreneurship program hosted by the KYOTO Design Lab (D-Lab) at the Kyoto Institute of Technology. The program, conducted entirely in English, brings together over sixty participants, workshop facilitators, and lecturers from around the world.
Why a Startup Summer School?
A scene from Kyoto Startup Summer School Image credit: Sushi Suzuki
Back in 2014, I was moonlighting with a German startup company called Yocondo that was working on creating a semantic product search engine to be used as a personal shopping assistant. The team was four brilliant engineers and me, a concept developer with mechanical engineering and Design Thinking backgrounds. Bootstrapping, we worked hard to develop proprietary technology and a product that would be useful to people. While the product was rapidly improving, we didn’t quite reach the explosive uptick in usage or meetings with investors for funding. After the unemployment pay for some of the team members ran out, the team disbanded. Another funny-named company in the startup graveyard.
Through this experience, I got to attend both Web Summit in Dublin and Slush in Helsinki, both world class startup events. Trying to network with investors and get attention from the media, we quickly realized that there was so much we didn’t know about the startup world. Engineers and designers have this mistaken belief that “if you build something good, users will come.” While we did read books and articles on startups, it didn’t quite sink in with us. I realized that being good at making things doesn’t necessarily make you a good entrepreneur.
Entrepreneurship and startups are buzzing around the world now, and more and more young people want to start companies. However, there is so much more one needs to learn than what is available in most universities. Going to engineering, design, business school will only give you a piece of the whole puzzle. This is why Kyoto Startup Summer School (KS3) was created, to give a comprehensive overview of entrepreneurship.
How is Kyoto Startup Summer School structured?
Participants discussing during the workshop Image credit: Sushi Suzuki
There are a lot of entrepreneurship programs and courses out there modeled after the Lean Launchpad model. Participants get together on day 1 with their ideas and form teams. After successive user interviews, mentoring sessions, and pitches over several weeks to months, the teams ultimately deliver a startup idea with a strong product-market fit. KS3 purposefully avoids this model and focuses more on a variety of content that entrepreneurs should know before founding. These are organized in modules of different lengths, taught by active entrepreneurs, professionals, and academics in the field.
At the core of KS3 are two multi-day workshops of Design Thinking and Lean Startup. The Design Thinking module focuses on the mindset of innovation, of being collaborative, user-centered, and experimental through rapid prototyping. For the last two years, we’ve been fortunate to have Anja Nabergoj, lecturer at the Stanford d.school teach this workshop. The Lean Startup module is about developing your idea to make sure you achieve good product-market fit through micro-experiments. Too many entrepreneurs keep making the wrong product with a misguided notion of what the customer wants, and both Design Thinking and Lean Startup help prevent this.
After the two big workshops, there are many smaller lecture and workshop modules. These modules could include sessions on investors-entrepreneur relations by the head of 500 Startups Japan, crowdfunding by the head of design and technology at Kickstarter, or “how to work with accelerators” by the managing director of Plug and Play Center Japan. One popular session from 2018 was focusing on corporate culture at startups by a researcher who did his Ph.D. on this topic. I teach a session on startup pitches utilizing my experience as the pitch coach for Slush Tokyo.
Meetup session with local entrepreneurs Image credit: Sushi Suzuki
The smaller workshops focus on introductions to more skill-based topics such as mechatronics prototyping with Arduino, introduction to software development or CAD, and storytelling for marketing. The goal of these modules isn’t to make the participants into experts in any single field but to provide foundational knowledge into many different fields that is important for creating startups. By getting a strong introduction, the participants will know what they have to learn in order to be successful when they take that leap into entrepreneurship.
In addition, throughout the two weeks, there are more fun events such as meetups with local entrepreneurs, visits to startups in the region, and morning yoga and meditation sessions. KS3 finishes with 54 hours of Startup Weekend where participants can flex their muscles and apply everything they’ve learnt. This session is co-organized with the SW Kyoto community and brings in local members as well.
Who comes to Kyoto Startup Summer School?
KS3 started in 2016 as a two-day beta test with four lecturers and a dozen participants. Most of the participants were local as we only advertised the program a month in advance. In 2017, we expanded the program to two weeks and spread the word to all corners of the world. I remember thinking: “will people really come to Japan for a two-week program on entrepreneurship?” Sure enough, we had 199 applicants from 51 countries that year from which we selected 35 people, and people really did come from around the world. 2018 was just as popular. Some participants came from Brazil, Chile, and Egypt, places very far from Japan. We even had a candidate from Iraq but he was not able to get a visa.
On the other hand, we don’t get nearly as many applications from Japanese students. Originally, we thought the applicant pool may be 40-50% Japanese, but in the last two years, it’s been about 3-5%. We knew the language barrier will scare off a lot of people, but we’re starting to realize that there isn’t much of a summer school culture in Japan. Getting more Japanese participants is definitely a challenge for the future.
Countries where everyone involved in KS3 have come from Image credit: Sushi Suzuki
In 2018, we also opened up the first week of the program to corporate participants. The two core workshops on Design Thinking and Lean Startup are actually applicable for companies and employees trying to develop new products, services, and businesses. We had several companies send their employees to be trained in these methodologies and we hope to expand this in the future.
One of the greatest satisfactions we’ve gained from running KS3 has been the community we’ve been able to form every year. Every year we create a Facebook group with all the participants and we see that many of them continue to interact after the summer school. Many people come from countries where the startup movement is still in its infancy and connecting with like-minded passionate people around the world is empowering. We’ve also been getting a lot of great feedback, both positive and constructive. We’re continuing to improve every aspect of KS3 and looking forward to those who will join us thisyear!
Tokyo-based Sansan, the company that operates the business card-based CRM (customer relationship management) solutions, announced today that IPO application to the Tokyo Stock Exchange (TSE) has been approved. The company will be listed on the TSE Mothers Market on June 19. Nomura Securities will lead the underwriting. Since its launch back in 2007, the company has been developing and offering two key products: Sansan and Eight. The Sansan platform is designed for enterprises or medium-businesses, provides a combined solution for business card scanning, data entry, and contact management, so that you can easily share the profiles of your clients with your colleagues. It serves 5,700 clients as of Q3 2019 in May. Meanwhile, the Eight platform is more optimized for individual use where our contacts will be automatically imported and connected by linking your Eight account with your social media presences like Facebook. It boasts 2.35 million users as of Q3 2019 in May. According to the consolidated statement as of May of 2018, they posted a revenue of 7.32 billion yen (about $66.8 million) with an ordinary loss of 3.08 billion yen ($28.1 million) and a net loss of 3.09 billion yen ($28.2 million). Led by Sansan CEO and…
Sansan
Tokyo-based Sansan, the company that operates the business card-based CRM (customer relationship management) solutions, announced today that IPO application to the Tokyo Stock Exchange (TSE) has been approved. The company will be listed on the TSE Mothers Market on June 19. Nomura Securities will lead the underwriting.
Since its launch back in 2007, the company has been developing and offering two key products: Sansan and Eight.
Sansan CEO Chika Terada
The Sansan platform is designed for enterprises or medium-businesses, provides a combined solution for business card scanning, data entry, and contact management, so that you can easily share the profiles of your clients with your colleagues. It serves 5,700 clients as of Q3 2019 in May.
Meanwhile, the Eight platform is more optimized for individual use where our contacts will be automatically imported and connected by linking your Eight account with your social media presences like Facebook. It boasts 2.35 million users as of Q3 2019 in May.
According to the consolidated statement as of May of 2018, they posted a revenue of 7.32 billion yen (about $66.8 million) with an ordinary loss of 3.08 billion yen ($28.1 million) and a net loss of 3.09 billion yen ($28.2 million).
Led by Sansan CEO and co-founder Chika Terada, its major share holders include DCM Ventures (6.90%), INCJ (5.91%), SMBC (5.81%), Sansan’s employee stock ownership (4.99%), GS Growth Investment (4.42%), A-Fund (4.35%), Sansan Director and co-founder Kei Tomioka (3.57%), Nissay Capital (3.06%), and EEI Cleantech Limited Partnership by Environmental Energy Investment (2.34%).
See the original story in Japanese. Bangkok-based Flare, the startup offering a car advertising network under the same name, announced today that it has secured early stage funding from Tokyo-based Voyage Ventures and unnamed angel investors. Financial terms including how much the investment was have not been disclosed. The funding round is unknown but it’s estimated as an early stage which is an equivalent to a pre-series A round given that it follows the previous seed round. Flare was launched back in August of 2017 by Japanese serial entrepreneur Kazuki Kamiya who moved to Thailand in November of 2013. Prior to Flare, he established a Skype-based Thai language school in May of 2014. Later, he engaged in managing crowdsourced translation / interpretation and business portal website, and now has newly started an on-demand real business. For Flare, he has secured funding three times since its angel and seed rounds. The Flare users owning automobiles log onto the service via a mobile app, and selects a desired one from among campaigns offered by advertisers. After applying for the campaign through uploading photos of the auto and driver license, wrapper comes and wraps the auto in the ad. Driving record while putting…
A car wrapping in an ad by Flare Image credit: Flare
Bangkok-based Flare, the startup offering a car advertising network under the same name, announced today that it has secured early stage funding from Tokyo-based Voyage Ventures and unnamed angel investors. Financial terms including how much the investment was have not been disclosed. The funding round is unknown but it’s estimated as an early stage which is an equivalent to a pre-series A round given that it follows the previous seed round.
Flare was launched back in August of 2017 by Japanese serial entrepreneur Kazuki Kamiya who moved to Thailand in November of 2013. Prior to Flare, he established a Skype-based Thai language school in May of 2014. Later, he engaged in managing crowdsourced translation / interpretation and business portal website, and now has newly started an on-demand real business. For Flare, he has secured funding three times since its angel and seed rounds.
The Flare users owning automobiles log onto the service via a mobile app, and selects a desired one from among campaigns offered by advertisers. After applying for the campaign through uploading photos of the auto and driver license, wrapper comes and wraps the auto in the ad. Driving record while putting the ad will be sent to Flare via the app so that a user can earn money according to the distance and the route he/she has driven for.
500 autos signed up with Flare at the time of launch back in August of 2017. The startup has tentatively suspended accepting applications from drivers because of too many sign-ups. However, the number of registrants grew up to 6,000 cars in May of 2018 and then 15,000 drivers back in April this year, now aiming to serve 100,000 cars in the near future. Advertisers for Flare are tens of companies in total including cosmetics, food brands, app developers, and shopping malls from Thailand, Japan, and multinational companies.
Flare recently partnered with Toyota Tsusho (Thailand) which is getting more massive to invest in verticals like smart living, aging society, and MaaS (Mobility as a Service). Bangkok Post reported that the partnership intends to run a joint campaign promoting the Flare service leveraging Toyota Tsusho’s auto sales locations all across Thailand, resulted in that the trading giant invested 3 million baht (about $100,000 US) in the BangkoK startup in a pre-sereis A round. (The latest investment is made for the startup’s Japanese business entity).
Flare says it will use the funds to strengthen product development and team structure, aiming to expand into another business leveraging touch points with auto drivers.
A video clip below shows you Thai broadcaster Channel 5’s coverage of the partnership between Toyota Tsusho (Thailand) and Flare.
Japanese space startup Intersteller Technologies announced earlier today that it has successfully launched a small rocket in Hokkaido this morning. The company is well known for having been co-founded and invested by Japanese renowned investor/entrepreneur Takafumi Horie a.k.a. Horiemon. Named Momo after a Japanese alias for 100, the rocket literally succeeded to rise to an altitude of more than 100 kilometers (the startup’s twitter says it was 113.4 kilometers). It is 10 meter long and 1 ton with an diameter of 50 centimeters, has been developed by the startup from scratch. Intersteller has just become the first private company in Japan to launch a rocket into the space. The launch was initially planned in April but was postponed due to a minor leak of liquid oxygen fuel and strong winds. This follows their second launch last year which ended in a fiery crash just after the liftoff. The startup is planning to launch another rocket in 2023, hoping to carry small satellites for lower costs.
Momo F3 Image credit: Interstellar
Japanese space startup Intersteller Technologies announced earlier today that it has successfully launched a small rocket in Hokkaido this morning. The company is well known for having been co-founded and invested by Japanese renowned investor/entrepreneur Takafumi Horie a.k.a. Horiemon.
Named Momo after a Japanese alias for 100, the rocket literally succeeded to rise to an altitude of more than 100 kilometers (the startup’s twitter says it was 113.4 kilometers). It is 10 meter long and 1 ton with an diameter of 50 centimeters, has been developed by the startup from scratch. Intersteller has just become the first private company in Japan to launch a rocket into the space.
The launch was initially planned in April but was postponed due to a minor leak of liquid oxygen fuel and strong winds. This follows their second launch last year which ended in a fiery crash just after the liftoff. The startup is planning to launch another rocket in 2023, hoping to carry small satellites for lower costs.