Japanese 3D robot developer 3D MEDiA Co has secured $10 million funding from Innovation Network Corporation and a group of investors. Creema, one of top four online marketplaces in Japan, has raised 1.1 billion yen in the latest round.
INCJ leads $10m round for Japanese robotics startup 3D MEDiA
As the first venture company from Ritsumeikan University, 3D MEDiA has been developing and selling the 3D robot vision system for industrial robot use since 2011.
Due to the rising of labour wages in developing countries and shorter product lifecycle, the demand for its robots have been risen especially from automotive and electrical machinery, surpassing 130 units, with more than 30 units now in use on production lines.
The company will spend the funds on strengthening its technological development and sales structure to serve the mass production. Some part of it will be used to set up a new R&D office in Tokyo this year and open an intelligent robot research institute by 2017.
This investment marks the third time INCJ and NEDO have provided joint support in line with their “mutual cooperation agreement to create new industries.”
Creema raises $10M
Since it was launched in 2010, Creema marketplace has grown rapidly and listed more than 2.4 million handmade items from over 60,000 registered creators at present. It cited it had seen a 450-per-cent growth of transaction volume from last year, higher than 250 per cent growth in the handmade C2C market in Japan.
Creema will use the proceeds for system developments and marketing efforts for service recognition as it expects to hit 10 billion yen (about $92 million) in gross merchandise volume this year.
Two years ago it raised 100 million yen funding from KDDI Open Innovation Fund, jointly operated by leading Japanese telco KDDI and VC firm Global Brain.