Latest in the Japanese startup ecosystem saw Psychic VR Lab secure funding from 6 angel investors while Planet Table closed a $4 million Series B round.
Psychic CR Lab closes angel round
Virtual reality applications developer Psychic VR Lab has closed a funding round from 6 angel investors. These include Tadasu Nakamura, Nobuhiko Watanabe (professor, Graduate School of Project Design), Akira Takashima (consultant, eBook Initiative Japan) and Tetsufumi Takimoto (angel investor / visiting associate professor, Kyoto University). The identity of the two remaining investors remains undisclosed.
It was announced that Nakamura was appointed to Psychic VR Lab’s Board of Directors and Watanabe as VR tech-advisor. After working for Nomura Securities, Nakamura had previously established a 30 billion yen (approx. USD$300 million) fund for internet businesses as the president of Hikari Tsushin Capital.
Psychis CR Lab was founded in 2007 and was previously known as Ozmiq. The startup is currently developing Styly, a VR-based shopping platform devoted to fashion. The firm intends to focus the newly acquired liquidity on managing resources for the development of the product.
An estimated 30 fashion brands and outlets are expected to test Styly in the near future, including the Shinjuku branch of Isetan (a Japanese department store).
Planet Table raises $4m through Series B
Food tech innovator Planet Table has secured a $4 million Series B investment from SBI Investment. The round also saw from participation Genuine Startups and Mistletoe. This follows a previous Series A funding round in January 2016 which saw the startup raise USD$850 thousand from CyberAgent Ventures and Saison Ventures.
Planet Table specializes in food delivery to professionals and aims to use big data science in order to optimize supply and demand chains by connecting farmers and restaurants directly, in order to limit food wastage. Their platform “Send” has reached around 1000 restaurants and 3000 producers since its launch in 2015
The newly secured funding will be used to establish a new distribution center in Tokyo named “Gate Meguro”, as well as constructing a new logistics model. Additionally, the firm aims to increase its employee-base in the next year from the current 20 to about 35. Planet Table has upgraded from one truck in 2015 to a current 8.