Startup lending platform Funds has raised almost $27 million from a consortium of Japanese VC firms in a Series D funding round, while warehouse robotics startup LexxPluss has bagged nearly $11 million in a Series A round.
Japanese VCs lead Funds’ Series D round
Startup lending platform Funds has raised 3.6 billion yen ($26.7 million) in a Series D round led by a consortium of Japan-based VC firms, according to a company statement.
The consortium included Japanese VC firms such as ANRI, Global Brain, B Dash Ventures, Itochu Technology Ventures, Mizuho Capital, Mitsubishi UFJ Capital, FFG Venture Business Partners, and Cygames Capital.
Other non-VC backers in the round included Sumitomo Mitsui Trust Bank, Rakuten Securities, Hanwha Asset Management, and Mercuria Holdings.
Funds is an online marketplace for lending funds, which connects individual investors with both startups and listed companies.
Funds’ Series C round in 2021 raised 2 billion yen ($14.8 million) from recurring investors ANRI, Global Brain, B Dash Ventures, Itochu Technology Ventures, FFG Venture Business Partners, Mizuho Capital, Mitsubishi UFJ Capital, and Sumitomo Mitsui Trust Bank.
LexxPluss plans to expand to US
LexxPluss, a warehouse robotics startup, has raised 1.45 billion yen ($10.7 million) in a Series A round to expand its business operations to the US, according to a company announcement.
The financing round was led by Tokyo-based VC firm Drone Fund alongside HAX, Incubate Fund, SBI Investment, and DBJ Capital.
LexxPluss, founded in 2020, designs and develops autonomous mobile robots that transport heavy loads and optimise workflows for areas such as warehouses and logistic sites.
Founded in 2017, Drone Fund is a VC firm based in Tokyo which aims to invest in the drone, air mobility, and robotics sectors. Some of its portfolio companies include drone delivery platforms Wingcopter and Matternet.