Pixie Dust Technologies, phased array and digital fabrication startup, secures $44M

Pixie Dust Technologies, phased array and digital fabrication startup, secures $44M

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Pixie-Dust

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