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Gen AI startup EmbodyMe unveils new app, creates avatars responding to your motion in real time

Masaru Ikeda Masaru Ikeda
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Tokyo-based EmbodyMe launched a new app called Xpression Avatar, which allows users to move their own avatars in real-time, available for iOS and Android. The app uses the company’s proprietary real-time video generative AI technology to instantly generate your avatar in different styles which responds to your facial expressions and head movements fin real time. Since its launch back in 2016, EmbodyMe has developed several apps in the generative video field, including the EmbodyMe VR app, the Xpression Camera face swap app, as well as the Xpression Chat VR- / ChatGPT-based app. In the new app, the AI technology allows you to generate your avatar in various styles from your photos. The avatar styles available include anime, ukiyoe, humanoid, 1990s, and hip-hop. The user can not only move the avatar in accordance with his/her own movements, but also make the avatar speak his/her favorite lines, and tap a button to make the avatar laugh or sing. The generated images can also be shared on social network services while the mobile screen with the avatar can be shared. The new app is the culmination of EmbodyMe in two ways. One is that, in addition to the preset styles mentioned above, you…

Tokyo-based EmbodyMe launched a new app called Xpression Avatar, which allows users to move their own avatars in real-time, available for iOS and Android. The app uses the company’s proprietary real-time video generative AI technology to instantly generate your avatar in different styles which responds to your facial expressions and head movements fin real time.

Since its launch back in 2016, EmbodyMe has developed several apps in the generative video field, including the EmbodyMe VR app, the Xpression Camera face swap app, as well as the Xpression Chat VR- / ChatGPT-based app. In the new app, the AI technology allows you to generate your avatar in various styles from your photos.

The avatar styles available include anime, ukiyoe, humanoid, 1990s, and hip-hop. The user can not only move the avatar in accordance with his/her own movements, but also make the avatar speak his/her favorite lines, and tap a button to make the avatar laugh or sing. The generated images can also be shared on social network services while the mobile screen with the avatar can be shared.

Image credit: EmbodyMe

The new app is the culmination of EmbodyMe in two ways. One is that, in addition to the preset styles mentioned above, you can freely specify your favorite style with text prompts; according to EmbodyMe CEO Issay Yoshida, your prompt is interpreted based on the customized version of the Stable Difussion LLM (Large Language Model).

The second is their proprietary AI technology that can generate video in real time. Moreover, video processing is not performed in the cloud but on the mobile, which makes the company stand out with its unrivaled technology. The company does not need to increase its computational resources as its user base grows because the experience does not rely on the cloud.

EmbodyMe is developing the app for consumers while offering business solutions using the same technology for video production, advertising, live streaming, games, and other applications.

In the generative video AI space, Meta and Stable AI have recently announced their own solutions respectively while Runway has partnered with Getty Images to develop generative AI video models for the film and advertising industries. Pika Labs has reached a $200 million valuation in just six months after its launch.

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Japan’s Thirdverse raises $8.1M to focus on developing VR and blockchain game titles

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Tokyo-based game developer Thirdverse announced on Thursday that it has secured approximately 1.2 billion yen (about $8.1 million US) in its latest round. B Dash Ventures, Shinsei Corporate Investment, Now, Mitsubishi UFJ Capital, and Thirdverse CEO Hironao Kunimitsu participated in this round. For the company, this follows a 2 billion yen ($13.5 million) funding back in November of 2022, and brought their funding sum to date to 5.7 billion yen ($38.5 million). Thirverse uses the funds to more focus on developing and global marketing of its latest VR titles X8 and Soul Covenant. X8 has achieved 180,000 downloads since its official launch on the Meta Quest and Steam stores, and has hosted three VR e-sports events; Its PlayStation VR2 and PICO versions will be announced soon. Recently announced at the Tokyo Game Show 2023, Soul Covenant is also scheduled to release in early 2024. The company plans to continue developing new VR game projects and hiring development teams. Via PR Times

X8
Image credit: Thirdverse

Tokyo-based game developer Thirdverse announced on Thursday that it has secured approximately 1.2 billion yen (about $8.1 million US) in its latest round.

B Dash Ventures, Shinsei Corporate Investment, Now, Mitsubishi UFJ Capital, and Thirdverse CEO Hironao Kunimitsu participated in this round.

For the company, this follows a 2 billion yen ($13.5 million) funding back in November of 2022, and brought their funding sum to date to 5.7 billion yen ($38.5 million).

Thirverse uses the funds to more focus on developing and global marketing of its latest VR titles X8 and Soul Covenant.

X8 has achieved 180,000 downloads since its official launch on the Meta Quest and Steam stores, and has hosted three VR e-sports events; Its PlayStation VR2 and PICO versions will be announced soon.

Recently announced at the Tokyo Game Show 2023, Soul Covenant is also scheduled to release in early 2024. The company plans to continue developing new VR game projects and hiring development teams.

Via PR Times

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Japanese serial entrepreneurs secure $13M to launch Izumo VTuber project

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Singapore-based AnotherBall announced that it has secured 1.9 billion yen (about $13 million US) in a seed round to promote its VTuber project targeting the English-speaking market called Izumo. The latest round was led by ANRI with participation from Hashed, Global Brain, Globis Capital Partners (GCP), Sfermion, HashKey Capital, Everyrealm, Ethereal Ventures, Emoote, Crunchyroll founder Kun Gao, and other angel investors. This follows an angel round in May of 2023 and brought their funding sum up to 2.2 billion yen (about $15 million US). The company was founded in May of 2022 by CEO Shunsuke Oyu and CTO Tatsuro Shimada, both of whom are known for having founded businesses like VTuber agency Prism Project as well as mom-focused Q&A app Mamari (acquired by KDDI’s Syn. Holdings back in 2016). Izumo is said to aim to create a sustainable platform that enables everyone to live their lives in their own way. The platform has been working on initiatives that incorporate cutting-edge technologies and is using these experiences to allow individual creators to gain fans and monetize their work. It is scheduled to be launched in 2024. Oyu proposes a future in which people are becoming avatars, which in turn expands human…

Singapore-based AnotherBall announced that it has secured 1.9 billion yen (about $13 million US) in a seed round to promote its VTuber project targeting the English-speaking market called Izumo.

The latest round was led by ANRI with participation from Hashed, Global Brain, Globis Capital Partners (GCP), Sfermion, HashKey Capital, Everyrealm, Ethereal Ventures, Emoote, Crunchyroll founder Kun Gao, and other angel investors. This follows an angel round in May of 2023 and brought their funding sum up to 2.2 billion yen (about $15 million US).

The company was founded in May of 2022 by CEO Shunsuke Oyu and CTO Tatsuro Shimada, both of whom are known for having founded businesses like VTuber agency Prism Project as well as mom-focused Q&A app Mamari (acquired by KDDI’s Syn. Holdings back in 2016). Izumo is said to aim to create a sustainable platform that enables everyone to live their lives in their own way.

The platform has been working on initiatives that incorporate cutting-edge technologies and is using these experiences to allow individual creators to gain fans and monetize their work. It is scheduled to be launched in 2024. Oyu proposes a future in which people are becoming avatars, which in turn expands human potential where VTubers are the future of this.

via PR Times

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Japan’s talent assessment platform HRBrain acquired by Swedish investment firm EQT

Masaru Ikeda Masaru Ikeda
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Nikkei reported on Monday that EQT has agreed to acquire Japanese startup HRBrain for an undisclosed sum. Japanese startup database Initial reported the company was valued around 21.5 billion yen (about $145 million US) when it secured 1.8 billion yen (about $12 million yen in equity and loans in the previous round back in February of 2022. After the aquisition, founder and CEO Hiroki Hori will remain on board and as a shareholder while EQT will dispatch an outside director. Prior to HRBrain, Mori managed a media business unit at CyberAgent (TSE:4751). After recognizing the complexity and inefficiency of the personnel evaluation and goal management of many enrolled members using Excel and other tools, he launched the company in March of 2016 under its previous name of Moskytone. The company’s cloud-based platform under the same name has served over 2,500 companies since its launch back in January of 2017. HRBrain streamlines the workload of HR professionals in the evaluation process by putting everything from the filling out of goal sheets to the management of evaluations by HR professionals into the cloud system, which allows them to create effective data-driven strategies on human resource management. It consists of seven services: Talent…

The HRBrain Headquarters
Image credit: HRBrain

Nikkei reported on Monday that EQT has agreed to acquire Japanese startup HRBrain for an undisclosed sum. Japanese startup database Initial reported the company was valued around 21.5 billion yen (about $145 million US) when it secured 1.8 billion yen (about $12 million yen in equity and loans in the previous round back in February of 2022. After the aquisition, founder and CEO Hiroki Hori will remain on board and as a shareholder while EQT will dispatch an outside director.

Prior to HRBrain, Mori managed a media business unit at CyberAgent (TSE:4751). After recognizing the complexity and inefficiency of the personnel evaluation and goal management of many enrolled members using Excel and other tools, he launched the company in March of 2016 under its previous name of Moskytone. The company’s cloud-based platform under the same name has served over 2,500 companies since its launch back in January of 2017.

Image credit: HRBrain

HRBrain streamlines the workload of HR professionals in the evaluation process by putting everything from the filling out of goal sheets to the management of evaluations by HR professionals into the cloud system, which allows them to create effective data-driven strategies on human resource management. It consists of seven services: Talent Management, Organizational Diagnostic Survey, Pulse Survey, Personnel Evaluation, 360-degree evaluation, Labor Management, and In-house Chatbot.

To date, the company has secured funds from Seiga Asset Management (Hong Kong), Dai-ichi Life Insurance, Eight Roads Ventures Japan, Mizuho Capital, SCSK (TSE: 9719), Genesia Ventures, Beenext, Keisuke Honda’s KSK Angel Fund, Mitani Sangyo, CyberAgent’s Fujita Fund, Mizuho Capital, JA Mitsui Leasing, Sparx Group’s Mirai Creation Fund, and others.

Originally from Sweden’s Vallenberg family (it’s said to indirectly control one-third of the Nordic country’s gross national product), EQT currently has assets under management of approximately 232 billion euros, with offices in 20 countries across Europe, Asia, and North America. It has acquired companies like VetPartners and Billtrust.

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Tokyo Government launches center of exchange between entrepreneurs, ecosystem builders

Masaru Ikeda Masaru Ikeda
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On Monday, the Tokyo Metropolitan Government held a kick-off event to celebrate the opening of Tokyo Innovation Base or TiB for short, a center of exchange between entrepreneurs and other stakeholders in the startup landscape. Based on its startup strategy titled Global Innovation with Startups, the government uses the venue for activities in aim to help increase 10 folds in the number of unicorns, that of founding new businesses, and that of collaborative projects between the government and startups. It will serve as a base for activities to realize all these goals. The venue will host a variety of activities based on four keywords: Global, Growth, Collaboration, and Connect. In Global, the government will collaborate with Plug and Play, Startup Island Taiwan and other foreign initatives while in Growth, it will collaborate with the UTokyo Innovation Platform (UTokyo IPC) which has vast network with universities across the country through its 1st Round program. In Collaboration, the government works with Sony Innovation Fund and other corporate venture capital units to support open innovation while in Connect, it teams up with startup support organizations to hold one to three events a week at the venue. Most recently, Startup Genome and Dealroom are…

Image credit: Masaru Ikeda

On Monday, the Tokyo Metropolitan Government held a kick-off event to celebrate the opening of Tokyo Innovation Base or TiB for short, a center of exchange between entrepreneurs and other stakeholders in the startup landscape.

Based on its startup strategy titled Global Innovation with Startups, the government uses the venue for activities in aim to help increase 10 folds in the number of unicorns, that of founding new businesses, and that of collaborative projects between the government and startups. It will serve as a base for activities to realize all these goals.

Image credit: Masaru Ikeda

The venue will host a variety of activities based on four keywords: Global, Growth, Collaboration, and Connect. In Global, the government will collaborate with Plug and Play, Startup Island Taiwan and other foreign initatives while in Growth, it will collaborate with the UTokyo Innovation Platform (UTokyo IPC) which has vast network with universities across the country through its 1st Round program.

In Collaboration, the government works with Sony Innovation Fund and other corporate venture capital units to support open innovation while in Connect, it teams up with startup support organizations to hold one to three events a week at the venue. Most recently, Startup Genome and Dealroom are scheduled to hold an event this coming Thursday.

Image credit: Masaru Ikeda

The government has conducted various initiatives to encourage entrepreneurship including a startup cafe for potential entrepreneurs near Tokyo Station, the Tokyo Startup Gateway program, and the Aoyama Startup Acceleration Center (ASAC), APT for Women, the initiative to especially encourage female entrepreneurs as well as the global conference.

Compared to these past initiatives encouraging entrepreneurs in their early phase, the new venue seems to be intended to further support those who have already started their own businesses and to further promote startup activities. Other examples of venues for entrepreneurs run by local governments include Fukuoka City’s Fukuoka Growth Next (FGN) and Aichi Prefecture’s STATION Ai (scheduled to open next year).

Image credit: Masaru Ikeda

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Tokyo Otaku Mode acquired by Japanese major publisher Shogakukan

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Tokyo Otaku Mode announced on Tuesday that it has been acquired by Japanese major publishing company Shogakukan. The terms of the deal have not yet been disclosed. We haven’t confirmed that the company secured funding from VC firms and other sources after January of 2018. To date, the total amount of funds secured through the Series A and Series B rounds apparently surpasses 1.8 billion yen. Buffett Code estimated the company’s was valued at 3 billion yen as of August of 2022. The company was founded in March of 2011 by Naomitsu Kodaka, a former Merrill Lynch employee and former CFO of Gaiax, and then established a U.S. subsidiary in April of 2012 with global expansion in mind. Serving its global audience with updates on Japanese anime and manga in English, it has earned over 20 million followers on its Facebook fan page. After the acquisition, CEO Odaka and Vice Hajime Ataka will continue playing their role respectively. Shogakukan’s President Nobuhiro Oga and other directors join the board of Tokyo Otaku Mode as Chairman and directors respectively. Tokyo Otaku Mode kicked off its business with a media outlet offering Japanese anime and manga updates to the world, and now offers…

Image credit: Tokyo Otaku Mode

Tokyo Otaku Mode announced on Tuesday that it has been acquired by Japanese major publishing company Shogakukan. The terms of the deal have not yet been disclosed. We haven’t confirmed that the company secured funding from VC firms and other sources after January of 2018. To date, the total amount of funds secured through the Series A and Series B rounds apparently surpasses 1.8 billion yen. Buffett Code estimated the company’s was valued at 3 billion yen as of August of 2022.

The company was founded in March of 2011 by Naomitsu Kodaka, a former Merrill Lynch employee and former CFO of Gaiax, and then established a U.S. subsidiary in April of 2012 with global expansion in mind. Serving its global audience with updates on Japanese anime and manga in English, it has earned over 20 million followers on its Facebook fan page. After the acquisition, CEO Odaka and Vice Hajime Ataka will continue playing their role respectively. Shogakukan’s President Nobuhiro Oga and other directors join the board of Tokyo Otaku Mode as Chairman and directors respectively.

Tokyo Otaku Mode kicked off its business with a media outlet offering Japanese anime and manga updates to the world, and now offers character goods, e-commerce, and a logistics outsourcing service that can deliver products from e-commerce and crowdfunding sites to all over the world. In September of 2014, the company became the first investee from Japan’s state-backed Cool Japan Fund. Through the acquisition, Shogakukan is expected to strengthen the overseas expansion of its intellectual property businesses.

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via Shogakukan

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LA startup Cashi Cake secures $3.7M to promote seaweed-based functional sweets, beverages

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Los Angeles-based Cashi Cake, the Japanese startup behind the Misaky Tokyo seaweed confectionery brand and the OoMee seaweed beverage brand, announced on Tuesday that it has secured $3.7 million US in the 1st close of its Series A round. Participating investors include Mitsubishi Foods (TSE: 7451), Mitsui Sumitomo Insurance Capital, SMBC Venture Capital, and undisclosed venture capital firm(s) as well as angel investors including Masaki Yamamoto (CEO, Chatwork), Shinichi Takama, Kazutaka Mori (international attorney, One Aisa Lawyers), Yu Kaneko (qualified institutional investor), and Hiroyuki Miyake (CEO, Synergy Plus). For the company, this follows their two angel rounds (securing approximately 60 million yen in total) and the 1st close of its seed round back in 2022 (since the seed round’s 2nd close has not been announced, so in effect this appears to be the final close of the seed round). The latest round brought the startup funding sum up to date to $5.6 million US. Our readers may recall the company secured a seed round from Chiba Dojo Fund, Coconala Skill Partners (CSP), and Headline Asia as well as two angel investors: Hiromi Okuda, and Shin Murakami. The company revealed at this time that Japanese microalgae developer Euglena (TSE: 2931) also…

Misaky.Tokyo and OoMee
Image credit: Cashi Cake

Los Angeles-based Cashi Cake, the Japanese startup behind the Misaky Tokyo seaweed confectionery brand and the OoMee seaweed beverage brand, announced on Tuesday that it has secured $3.7 million US in the 1st close of its Series A round. Participating investors include Mitsubishi Foods (TSE: 7451), Mitsui Sumitomo Insurance Capital, SMBC Venture Capital, and undisclosed venture capital firm(s) as well as angel investors including Masaki Yamamoto (CEO, Chatwork), Shinichi Takama, Kazutaka Mori (international attorney, One Aisa Lawyers), Yu Kaneko (qualified institutional investor), and Hiroyuki Miyake (CEO, Synergy Plus).

For the company, this follows their two angel rounds (securing approximately 60 million yen in total) and the 1st close of its seed round back in 2022 (since the seed round’s 2nd close has not been announced, so in effect this appears to be the final close of the seed round). The latest round brought the startup funding sum up to date to $5.6 million US. Our readers may recall the company secured a seed round from Chiba Dojo Fund, Coconala Skill Partners (CSP), and Headline Asia as well as two angel investors: Hiromi Okuda, and Shin Murakami. The company revealed at this time that Japanese microalgae developer Euglena (TSE: 2931) also participated in the previous seed round.

Cashi Cake founder & CEO Alissa Miky

Founded in Los Angeles in September of 2019 by Alissa Miky, Cashi Cake uses technology to process seaweed agar to develop its high-end Japanese confectionery products. In addition to serving their products to the Academy Awards and Emmy Awards eve, the company collaborated with Kim Kardashian’s fragrance brand KKW and was featured in the Bon Appétit food magazine. The company has earned over 1.4 million followers on its Tiktok brand account (Misaky.Tokyo). They will use the funds to hire talents and administrative expenses for brand expansion, as well as product and patent development for selling functional seaweed powder to businesses.

In conjunction with the funding, the company also announced that it will apply for a joint patent with the Tottori Institute of Industrial Technology. The company will apply the institute’s technology for wrapping soy sauce in a membrane created from seaweed to wrapping highly concentrated alcohol, thereby providing a plastic substitute that can be used with any material. Until now, it has been difficult to encapsulate highly concentrated alcohol with the dietary fiber contained in seaweed, but the new technology will make it possible to encapsulate high-alcohol (tequila, gin, whiskey, sake, etc.) and low pH liquids (orange juice, etc.) in any shape or size. It is expected to realize a new texture with a film that pops when chewed in the mouth, and to develop edible containers.

via PR TImes

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Fukuoka City helps shorten visa screening process for foreign IT engineers

Masaru Ikeda Masaru Ikeda
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On Monday, Fukuoka City began operating the Engineer Visa program utilizing the National Strategic Special Zone. In 2019, the city requested the central government to approve a system to shorten and clarify the examination period for foreign IT engineers’ status of residence. Whereas the normal examination period for residency status for foreign nationals takes about one to three months, the special legislation can make it shorter to about one month with the city taking part of the examination process. This will lower the hurdle for Japanese startups based in the city to hire foreign engineers and for foreign startups to establish their base there. The first company to take advantage of the system is expected to be the Japanese subsidiary of VMO Holdings, an offshore development company in Vietnam. Fukuoka City has long been active in attracting overseas startups and encouraging local startups to expand overseas: in 2016, the city began collaborating with the French city of Bordeaux to support drone startups, and in 2017, it signed a memorandum of understanding with Taiwan’s Taipei city to support Fukuoka startups expand overseas and vice versa. In 2017, Fukuoka City established the Fukuoka Global Startup Center to strengthen mutual startup support between…

Photo by Syuichi Shiina via Unsplash

On Monday, Fukuoka City began operating the Engineer Visa program utilizing the National Strategic Special Zone. In 2019, the city requested the central government to approve a system to shorten and clarify the examination period for foreign IT engineers’ status of residence. Whereas the normal examination period for residency status for foreign nationals takes about one to three months, the special legislation can make it shorter to about one month with the city taking part of the examination process.

This will lower the hurdle for Japanese startups based in the city to hire foreign engineers and for foreign startups to establish their base there. The first company to take advantage of the system is expected to be the Japanese subsidiary of VMO Holdings, an offshore development company in Vietnam.

Fukuoka City has long been active in attracting overseas startups and encouraging local startups to expand overseas: in 2016, the city began collaborating with the French city of Bordeaux to support drone startups, and in 2017, it signed a memorandum of understanding with Taiwan’s Taipei city to support Fukuoka startups expand overseas and vice versa. In 2017, Fukuoka City established the Fukuoka Global Startup Center to strengthen mutual startup support between the city and other countries.

In 2012, the city declared “Startup City” and then established a startup support facility called  FUKUOKA Growth Next on the site of the former Daimyo Elementary School. This year, the Fukuoka Daimyo Garden City building was completed adjacent to the facility, and Fukuoka Financial Group (TSE: 8354) opened its open innovation center called GROWTH I in the terrace annex of the building.

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Japanese Government opens entrepreneurs’ base in SF Bay Area

Masaru Ikeda Masaru Ikeda
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The Japanese Government is establishing a center for entrepreneurs in Palo Alto called Japan Innovation Campus. Its arm METI, the Ministry of Economy, Trade and Industry, held a reception party to celebrate the launch of it on Sunday, inviting Yasutoshi Nishimura, the Japanese Economic Minister. Other guests included Palo Alto Mayor Lydia Kou, former U.S. Ambassador to Japan and the head of Geodesic Capital John Ruus as well as local Japanese investors and entrepreneurs. The venue is conveniently located just three blocks from University Avenue, a major thoroughfare in the city, and close to Stanford University, which is known for producing many startups. It is managed by Mori Building and Accenture under contract from METI. About five companies will be selected as office members that can use private offices, and 50 companies will be selected as co-working members that can use shared space (up to three people per company) while applications have been already closed. The venue was established as part of the Japanese government’s “Five-Year Startup Development Plan,” and has been designated as one of the venues for J-StarX, a program promoted by the Ministry to send Japanese entrepreneurs to startup hubs in the overseas. By linking Japanese entrepreneurs,…

Japan Innovation Campus
Image credit: METI

The Japanese Government is establishing a center for entrepreneurs in Palo Alto called Japan Innovation Campus. Its arm METI, the Ministry of Economy, Trade and Industry, held a reception party to celebrate the launch of it on Sunday, inviting Yasutoshi Nishimura, the Japanese Economic Minister. Other guests included Palo Alto Mayor Lydia Kou, former U.S. Ambassador to Japan and the head of Geodesic Capital John Ruus as well as local Japanese investors and entrepreneurs.

The venue is conveniently located just three blocks from University Avenue, a major thoroughfare in the city, and close to Stanford University, which is known for producing many startups. It is managed by Mori Building and Accenture under contract from METI. About five companies will be selected as office members that can use private offices, and 50 companies will be selected as co-working members that can use shared space (up to three people per company) while applications have been already closed.

The venue was established as part of the Japanese government’s “Five-Year Startup Development Plan,” and has been designated as one of the venues for J-StarX, a program promoted by the Ministry to send Japanese entrepreneurs to startup hubs in the overseas.

By linking Japanese entrepreneurs, students, and others with local accelerators, VCs, universities, JETRO and other government agencies, the program aims to support the global expansion of Japanese startups and the development of the ecosystem. Through organizing events, it also aims to encourage open innovation between the two sides of the Pacific.

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Sagri partners with Thai conglomerate to roll out satellite data-based farm soil analysis

Masaru Ikeda Masaru Ikeda
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Sagri, the Japanese startup behind a satellite-based agricultural analytics platform under the same name, announced on Monday that it has agreed to conduct a proof-of-concept（PoC） project with Thailand’s largest conglomerate CP Group (Chalung Pokaphan Group). The startup will conduct tests of satellite data-based soil analysis with CP Group’s BKP (Bangkok Produce Merchandising). The tests will be conducted on corn farmland in the northeastern part of Thailand to confirm that Sagri’s soil analysis method can be performed more quickly and inexpensively than conventional ways. In the future, based on the the analysis result, the startup envisions a project to generate carbon credit derived from farmland by optimizing fertilizer application. This partnership was revealed during the 5th batch Demo Day of Rock Thailand, an open innovation-focused pitch event run by the Embassy of Japan in Thailand and CP Group since 2019. The event is part of the

Image credit: Sagri

Sagri, the Japanese startup behind a satellite-based agricultural analytics platform under the same name, announced on Monday that it has agreed to conduct a proof-of-concept（PoC） project with Thailand’s largest conglomerate CP Group (Chalung Pokaphan Group). The startup will conduct tests of satellite data-based soil analysis with CP Group’s BKP (Bangkok Produce Merchandising).

The tests will be conducted on corn farmland in the northeastern part of Thailand to confirm that Sagri’s soil analysis method can be performed more quickly and inexpensively than conventional ways. In the future, based on the the analysis result, the startup envisions a project to generate carbon credit derived from farmland by optimizing fertilizer application.

This partnership was revealed during the 5th batch Demo Day of Rock Thailand, an open innovation-focused pitch event run by the Embassy of Japan in Thailand and CP Group since 2019. The event is part of the 2nd batch of Rock Thailand in 2019. Starting with this opportunity, Sagri has begun researching its entry into the Thai market, established a Singapore subsidiary in January, and has been in ongoing discussions with CP Group.

Following securing 100 million yen ($1.4 million US in the exchange rate at the time) in a seed round in June of 2021, Sagri formed a capital and business alliance with Softbank’s SB Technology in 2022, and was subsequently selected for the 4th batch of the accelerator program run by Japan Agricultural Co-operatives for business collaboration.

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