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Japan’s Kaizen Platform, helping optimize website user experience, files for IPO

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See the original story in Japanese. Japanese startup Kaizen Platform, offering website user interface improvement solutions, announced on Wednesday that IPO application to the Tokyo Stock Exchange (TSE) has been approved. The company will be listed on the TSE Mothers Market on December 22 with plans to offer 1,550,000 shares for public subscription and to sell 751,300 shares in over-allotment options for a total of 3,459,000 shares. The underwriting will be led by Mizuho securities while Kaizen’s ticker code will be 4170. Its share price range will be released on December 3 with bookbuilding scheduled to start on December 7 and pricing on December 11. According to the consolidated statement as of December 2019, they posted revenue of 1.3 billion yen (about $12.5 million) with an ordinary loss of 249 million yen ($2.8 million). Based on the estimated issue price of 1,100 yen (about $10.6), the company will be valued at about 16.9 billion yen ($162 million). Kaizen Platform founded a Delaware company with establishing its global headquarters in San Francisco as well its Japan branch in Tokyo in March to April of 2013, followed by launching a website optimization solution back in August of the same year. In addition…

See the original story in Japanese.

Japanese startup Kaizen Platform, offering website user interface improvement solutions, announced on Wednesday that IPO application to the Tokyo Stock Exchange (TSE) has been approved. The company will be listed on the TSE Mothers Market on December 22 with plans to offer 1,550,000 shares for public subscription and to sell 751,300 shares in over-allotment options for a total of 3,459,000 shares. The underwriting will be led by Mizuho securities while Kaizen’s ticker code will be 4170.

Its share price range will be released on December 3 with bookbuilding scheduled to start on December 7 and pricing on December 11. According to the consolidated statement as of December 2019, they posted revenue of 1.3 billion yen (about $12.5 million) with an ordinary loss of 249 million yen ($2.8 million). Based on the estimated issue price of 1,100 yen (about $10.6), the company will be valued at about 16.9 billion yen ($162 million).

Kaizen Platform founded a Delaware company with establishing its global headquarters in San Francisco as well its Japan branch in Tokyo in March to April of 2013, followed by launching a website optimization solution back in August of the same year. In addition to offering website optimization solutions, the company launched the Kaizen Video service as part of the Kaizen Ad business.

Kaizen Platform established a Japanese company and its subsidiary Kaizen Platform USA in April ofo 2017. During this process, the founding company was dissolved in a merger with the US subsidiary, In addition, the company established a joint venture with NTT Ad called DX Catalyst, making it an equity-method affiliate by acquiring its 49% stake in April this year.

In addition to helping clients optimize their websites, the company is now focused on creating client’s video clips utilizing existing content for affordable rates and fast turnaround. They disclosed several KPIs they have achieved as of Q3 this year: 772 companies, 16,480 registered users (clients and professionals), and 2,124,000 yen as ARPU (average revenue per user).

Led by founder and CEO Kenji Sudo (32.43%), the company’s major shareholders include Eight Roads Ventures Japan (18.41%), GREE Ventures (now known as Strive, 9.39%), co-founder and CTO Toshimasa Ishibashi (8.11%), NTT Ad (7.29%), SBI Investment (4.59%), YJ Capital (3.82%), Colopl (3.05%), Dai Nippon Printing (2.88%), and GMO Venture Partners (1.91%).

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Japanese energy switching startup Enechange files for IPO

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See the original story in Japanese. Tokyo-based Enechange, the Japanese startup offering an electricity and gas switching platform for consumers under the same name, announced on Wednesday that IPO application to the Tokyo Stock Exchange (TSE) has been approved. The company will be listed on the TSE Mothers Market on December 23 with plans to offer 50,000 shares for public subscription and to sell 57,000 shares in over-allotment options for a total of 330,000 shares. The underwriting will be led by Mizuho securities while Enechange’s ticker code will be 4169. Based on the estimated issue price of 520 yen (about $5), the company will be valued at 2.99 billion yen (about 28.7 million). Its share price range will be released on December 3 with bookbuilding scheduled to start on December 7 and pricing on December 11. According to the consolidated statement as of December 2019, they posted revenue of 1.27 billion yen ($12.2 million) with an ordinary loss of 238 million yen ($2.3 million). Enechange was co-founded in April 2015 by serial entrepreneurs CEO Yohei Kiguchi COO Ippei Arita. The company offers a price comparison site for electricity, a phone service where customer representatives can assist consumers to choose the…

Image credit: Enechange

See the original story in Japanese.

Tokyo-based Enechange, the Japanese startup offering an electricity and gas switching platform for consumers under the same name, announced on Wednesday that IPO application to the Tokyo Stock Exchange (TSE) has been approved. The company will be listed on the TSE Mothers Market on December 23 with plans to offer 50,000 shares for public subscription and to sell 57,000 shares in over-allotment options for a total of 330,000 shares. The underwriting will be led by Mizuho securities while Enechange’s ticker code will be 4169.

Based on the estimated issue price of 520 yen (about $5), the company will be valued at 2.99 billion yen (about 28.7 million). Its share price range will be released on December 3 with bookbuilding scheduled to start on December 7 and pricing on December 11. According to the consolidated statement as of December 2019, they posted revenue of 1.27 billion yen ($12.2 million) with an ordinary loss of 238 million yen ($2.3 million).

Enechange was co-founded in April 2015 by serial entrepreneurs CEO Yohei Kiguchi COO Ippei Arita. The company offers a price comparison site for electricity, a phone service where customer representatives can assist consumers to choose the best electricity provider, as well as offering energy providers with cloud-based platforms such as EMAP (digital marketing SaaS) and SMAP (smartmeter-powered SaaS).

Led by CEO Kiguchi (23.86%), the company’s major shareholders include COO Arita (10.08%), Yasuyuki Ueno (8.00%), B Dash Ventures (7.62%), Energy Station Company Limited (7.61%), Bonds Investment Group (4.57%), EPCO (TSE:2311, 3.81%), Daiwa Energy Infrastructure (3.43%) and Spiral Capital (3.05%).

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Japanese robo-advisory startup WealthNavi files for IPO valued at over $470M

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See the original story in Japanese. Tokyo-based WealthNavi, the company offering a technology-based asset management service under the same name, announced that IPO application to the Tokyo Stock Exchange (TSE) has been approved. The company will be listed on the TSE Mothers Market on December 22 with plans to offer 2.5 million shares for public subscription and to sell 1,559,400 shares in over-allotment options for a total of 13,094,300 shares. The underwriting will be led by SBI securities while WealthNavi’s ticker code will be 7342. Based on the estimated issue price of 1,100 yen (about $10.5), the company will be valued at 49.5 billion yen (about $474.5 million). Its share price range will be released on December 3 with bookbuilding scheduled to start on December 7 and pricing on December 11. According to the consolidated statement as of December 2019, they posted revenue of 1.55 billion yen ($14.8 million) with an ordinary loss of 2.06 billion yen ($19.7 million). WealthNavi was founded back in April of 2015 by CEO Kazuhisa Shibayama who previously worked at finance ministries of Japan and UK respectively after graduating from the University of Tokyo. After leaving the public sector, he joined McKinsey to risk and…

Image credit: WealthNavi

See the original story in Japanese.

Tokyo-based WealthNavi, the company offering a technology-based asset management service under the same name, announced that IPO application to the Tokyo Stock Exchange (TSE) has been approved. The company will be listed on the TSE Mothers Market on December 22 with plans to offer 2.5 million shares for public subscription and to sell 1,559,400 shares in over-allotment options for a total of 13,094,300 shares. The underwriting will be led by SBI securities while WealthNavi’s ticker code will be 7342.

Based on the estimated issue price of 1,100 yen (about $10.5), the company will be valued at 49.5 billion yen (about $474.5 million). Its share price range will be released on December 3 with bookbuilding scheduled to start on December 7 and pricing on December 11. According to the consolidated statement as of December 2019, they posted revenue of 1.55 billion yen ($14.8 million) with an ordinary loss of 2.06 billion yen ($19.7 million).

WealthNavi was founded back in April of 2015 by CEO Kazuhisa Shibayama who previously worked at finance ministries of Japan and UK respectively after graduating from the University of Tokyo. After leaving the public sector, he joined McKinsey to risk and asset management projects for institutional investors.

The robo-advisory service provides a fully-automated asset management platform so that users can enjoy long-term and diversified investments. The company has now acquired 340,000 accounts and managed assets worth over 310 billion yen ($3.0 billion). The company was ranked in 10 of the most valued private companies in Japan by Nikkei last year.

WealthNavi is well known for having raised funds from more than 20 VC firms. Led by CEO Shibayama (24.84%), the company’s major shareholders include SBI Holdings and SBI Investment (13.5%), GREE Ventures (9.18%, now known as Strive), Infinity Venture Partners (6.39%, now known as Infinity Ventures), and Global Brain (5.96%, Global Brain also joins co-investment with Sony Financial Ventures), DBJ Capital (2.80%), and UTokyo Innovation Platform (2.40%).

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Japan’s Yappli, developer of drag-and-drop tool for building mobile apps, files for IPO

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See the original story in Japanese. Tokyo-based Yappli, the Japanese startup that provides a mobile app development platform under the same name, announced that IPO application to the Tokyo Stock Exchange (TSE) has been approved. The company will be listed on the TSE Mothers Market on December 22 with plans to offer 350,000 shares for public subscription and to sell 726,600 shares in over-allotment options for a total of 4,495,000 shares. The underwriting will be led by Mizuho securities while Yappli’s ticker code will be 4168. Based on the estimated issue price of 2,960 yen (about $28.4) and a total number of 11,663,600 shares in the market including public subscription, the company will be valued at 34.5 billion yen ($330 million). Its share price range will be released on December 2 with bookbuilding scheduled to start on December 4 and pricing on December 10. According to the consolidated statement as of December 2019, they posted revenue of 1.71 billion yen ($16.4 million) with a net loss of 798 million yen ($7.6 million). The company was founded in February of 2013 under its original name of Fastmedia. It launched the Yappli no-code application development system which allows both app developers and…

See the original story in Japanese.

Tokyo-based Yappli, the Japanese startup that provides a mobile app development platform under the same name, announced that IPO application to the Tokyo Stock Exchange (TSE) has been approved. The company will be listed on the TSE Mothers Market on December 22 with plans to offer 350,000 shares for public subscription and to sell 726,600 shares in over-allotment options for a total of 4,495,000 shares. The underwriting will be led by Mizuho securities while Yappli’s ticker code will be 4168.

Based on the estimated issue price of 2,960 yen (about $28.4) and a total number of 11,663,600 shares in the market including public subscription, the company will be valued at 34.5 billion yen ($330 million). Its share price range will be released on December 2 with bookbuilding scheduled to start on December 4 and pricing on December 10. According to the consolidated statement as of December 2019, they posted revenue of 1.71 billion yen ($16.4 million) with a net loss of 798 million yen ($7.6 million).

The company was founded in February of 2013 under its original name of Fastmedia. It launched the Yappli no-code application development system which allows both app developers and non-developers to develop their apps without programming skills.

Their revenue comes from initial support fee as well as monthly subscription consisting of a base usage fee, paid options, and billing based on the number of devices that receive push notifications through the app that users have developed. As of September 2020, the platform has been adopted to develop 527 apps while these apps have been downloaded about 65 million times in total. The platform’s churn rate has remained below 1% since December of 2016 and has been seeing 0.88% for the latest quarter.

Led by both Co-founder / CEO Yasufumi Ihara and Managing Director Masafumi Sano (20.75% respectively), the company’s major shareholders include YJ Capital (18.58%), Eight Roads Ventures Japan (10.02%), Globis Capital Partners (15.74%), Co-founder Masumi Kuroda (7.33%), Salesforce (3.71%), Itochu Technology Ventures (1.59%), and angel investor Shogo Kawada (0.42%).

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Plimes secures $1.4M seed round, helps hospitals monitor swallowing ability of elderly patients

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See the original story in Japanese. Plimes, a healthcare startup spun-off from the University of Tsukuba in Japan, announced in late March that it has raised nearly $1.4 million US in a seed round from robotics venture Cyberdyne (TSE: 7779), a fellow University of Tsukuba native for the startup. Plimes is also allying with Cyberdyne to accelerate the development and market expansion of their product. In general, people’s swallowing ability decreases with age, which puts the elderly at risk of aspiration and in turn increases the chance of pneumonia and/or death. Physicians may choose to alter the diet of patients with the decreased ability to swallow by switching them from solid food to mashed pastes, or in some cases patients may require gastrostomy for direct nutrients. Gokuri, the startup’s product, is a medical support device designed to improve the quality of life (QoL) for such eldery people. The device routinely measures whether or not swallowing is normal from the sound picked up using a microphone attached to a user’s neck, and it aims to improve the efficiency of user rehabilitation. The ability to accuratly monitor swallowing increases the possibility that the user can regain the power to eat and enjoy…

Plimes founders – From left: CCO Atsushi Nitasaka, COO Tomoya Shimokakimoto, CEO Kenji Suzuki, CTO Dushyantha Jayatilake
Image credit: Plimes

See the original story in Japanese.

Plimes, a healthcare startup spun-off from the University of Tsukuba in Japan, announced in late March that it has raised nearly $1.4 million US in a seed round from robotics venture Cyberdyne (TSE: 7779), a fellow University of Tsukuba native for the startup. Plimes is also allying with Cyberdyne to accelerate the development and market expansion of their product.

In general, people’s swallowing ability decreases with age, which puts the elderly at risk of aspiration and in turn increases the chance of pneumonia and/or death. Physicians may choose to alter the diet of patients with the decreased ability to swallow by switching them from solid food to mashed pastes, or in some cases patients may require gastrostomy for direct nutrients.

Gokuri, the startup’s product, is a medical support device designed to improve the quality of life (QoL) for such eldery people. The device routinely measures whether or not swallowing is normal from the sound picked up using a microphone attached to a user’s neck, and it aims to improve the efficiency of user rehabilitation. The ability to accuratly monitor swallowing increases the possibility that the user can regain the power to eat and enjoy tasty solid foods.

The Gokuri swallowing monitoring device
Image credit: Plimes

This is seed funding for the Plimes team after 10 years since they started basic research at the University of Tsukuba and the University Hospital of Tsukuba back in 2010 (not yet incorporated at that time). Funding was made possible by Gokuri’s high level of accuracy, 97.3% or more, with regards to measuring normal and abnormal swallowing conditions, and the establishment of a business model using hospitals as sales channels. The current business model assumes that hospitals will adopt the solution to improve medical services for patients.

Plimes COO/Co-founder Atsushi Nitasaka says,

For example, hospitals don’t want to see any patient with a brain tumor is cured by surgery but goes on to die of aspiration pneumonia the first time he ate. […]

During the process of starting development and advancing the product market fit, we realized that there is a need for doctors to monitor the patients’ diet. However, doctors cannot be continuously looking after them. This is where our solution can help. Our business model supports hospitals with their goal of discharging patients quickly.

In collaboration with Kyotango City in Kyoto, Tarumizu City in Kagoshima, and Fukuoka Prefecture, and other local governments, the company has been conducting practical tests with elderly participants at local medical facilities. Plimes feels that Japanese startups are uniquely skilled at developing solutions for aging societies, and since aging is a social issue common to developed countries, they have started global business expansion. Plimes is currently conducting demo tests in the US, Germany, and Denmark.

The Gokuri swallowing monitoring device
Image credit: Plimes

In line with the latest funding, Plimes will begin recruitment of skilled team members for each speciality: testing for swallowing, monitoring studies, medical device development, business development, speech therapy, cloud application development, and AI technology. Cyberdene, one of the investors in thiis round, has its hands in health and medical related business, so we can expect to see emerging synergy. Plimes will receive widespread support from Cyberdyne for engineering, back office functions, and the development of sales channels.

Plimes was adopted into the Japan Science and Technology Agency’s startup business “JST Start” initiative back in 2015 followed by being incorporated in 2018. Additionally, the company has had excellent results at numerous startup events and initiatives, including receiving the IP Bridge Award at the Asian Entrepreneurship Award 2018 and winning the 2nd “Startup Accelerator Tsukuba” Demo Day.

Translated by Amanda Lynn
Edited by Masaru Ikeda

Bangkok-based mobility data startup Flare raises $1.4M series A from Japanese investors

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Bangkok-based Flare, offering an ad-wrapping service for car owners as well as mobility data management and analytics services, announced today that it has raised 150 million yen (about $1.4 million) in a series A round from Spiral Ventures Asia, Chiba Dojo, Sun Asterisk, and Voyage Ventures. Sun Asterisk (previously called Framgia at the time) follows their participation in a seed round funding back in 2018 while Voyage Ventures follows a series A round back in 2019. 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 and subsequently engaged in managing crowdsourced translation / interpretation and business portal website. Following the Flare ad-wrapping service, his company launched Flare Analytics and Flare Dash last year. Flare Analytics is a device-free cloud based platform analyzing driving data which can be applied for fleet management and telematics insurance while Flash Dash visualizes driver behavior so that their operation management can easily understand where their employee drivers are running and working. Flare says the new fund will be used to invest in further developing the aforementioned three services…

The Flare team. CEO Kazuki Kamiya stands second from the left.
Image credit: Flare

Bangkok-based Flare, offering an ad-wrapping service for car owners as well as mobility data management and analytics services, announced today that it has raised 150 million yen (about $1.4 million) in a series A round from Spiral Ventures Asia, Chiba Dojo, Sun Asterisk, and Voyage Ventures.

Sun Asterisk (previously called Framgia at the time) follows their participation in a seed round funding back in 2018 while Voyage Ventures follows a series A round back in 2019.

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 and subsequently engaged in managing crowdsourced translation / interpretation and business portal website.

Flare Analytics
Image credit: Flare

Following the Flare ad-wrapping service, his company launched Flare Analytics and Flare Dash last year. Flare Analytics is a device-free cloud based platform analyzing driving data which can be applied for fleet management and telematics insurance while Flash Dash visualizes driver behavior so that their operation management can easily understand where their employee drivers are running and working.

Flare says the new fund will be used to invest in further developing the aforementioned three services by strengthening hiring sales and engineering positions. Flare Ad serves 15,000 registered users as of April last year, is aimed to hit 100,000 user milestone in the future. The company recently partnered with Renet Japan Group (TSE:3556), microfinance and other solution provider serving Cambodia, to launch the Flare ad-wrapping service in the Indochina market earlier this year. Flare Dash was also recently launched in Myanmar after Thailand.

As part of Open Innovation Columbus (OIC) through which the Japanese government and Thai conglomerates encourage strategic alliances between innovative Japanese startups and the Thai conglomerates, Flare partnered with Toyota Tsusho (Thailand) to jointly conduct a proof-of-concept and develop a safety driving-focused product using Fire Analytics last year. Since the platform can also be provided in the form of an SDK (software development kit), it can be more easily integrated with other software so that it can target corporate users who are running their existing systems.