KKR founders, Fosun join $22.8m investment in Japan’s Seven Dreamers Lab

Visual from Seven Dreamers Lab website

Japan’s Seven Dreamers Laboratories, a maker of personal-use devices, has raised $22.8 million (JPY2.5 billion) from private equity major KKR’s co-founders Henry Kravis and George Roberts, Chinese conglomerate Fosun International, among others, as per a report in AVCJ.

Other investors who took part in the financing included Japanese logistics services company Suzuyo & Co, Daiwa Corporate Investment and Shiga Bank, the report added.

Headquartered in Tokyo, Seven Dreamers targets to commercialize the Laundroid, the world’s first laundry folding bot, by the end of fiscal 2017, which it is developing jointly with Panasonic Corporation and Daiwa House. The robot automatically folds clothes that users toss in.

Seven Dreamers started working on the concept in 2005 in order to free people from the labor of carrying, folding and storing processes and increase time with one’s family and for one’s hobby. The move is basically aimed at automating the entire laundry doing process.

It also plans to partner with Panasonic for creating an updated Laundroid at a later stage that can also wash and dry clothes.

With the latest funding, Seven Dreamers intends to expand its sales network, and promote new product development. The latest round has taken the company’s total capital raised to 10 billion yen since its establishment in July 2014.

Seven Dreamers specialises in the development of Artificial Intelligence (Al), robotics and healthcare devices. Besides Tokyo, it also has a US head office in California.

Also Read: Asia Digest: Getui gets $58m in D round, Seven Dreamers closes $60m Series B

KKR’s Japan push with record Asia fund is a wise geographical choice

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.