In multiple deal updates from Japanese startups, Monstar Lab has closed a $6.4 million from YJ Capital while Infinity Venture Partners has invested in GliaCloud’s seed round and blockchain IoT startup Nayuta has secured seed funding.
Monstar Lab closes $6.4m led by YJ Capital
Tokyo-based Monstar Lab, which offers crowdsourced offshore app development service Sekai Lab, has closed a JPY 700 million ($6.4 million) in a fourth round fourth funding round led by YJ Capital, the investment arm of Yahoo Japan.
Other investors in the round include Shinsei Corporate Investment, Fenox Venture Capital, San-in Chuo TV Broadcasting and Tanabe. This latest investment translates to aggregate equity funding of JPY 1.45 billion ($13.2 million).
Previous investments include $2.5 million raised from Shimane-based Gogin Capital and others in November 2016, $3.3 million raised from Pasonatech and DG Incubation in November 2015, an estimated $1 million raised from East Ventures, Mitsubishi UFJ Capital, and SMBC Venture Capital in 2014.
It recently acquired a Danish app agency, expanding its footprint to Europe and internationally. This latest investment will see it aid Japanese firms expand into Europe and US markets in the form of localisation and digital marketing.
Infinity Venture Partners backs GliaCloud
According to a report from The Bridge, it was set up in July 2015 by Taiwanese Canadian entrepreneur David Chen, who previously founded Tagtoo. The startup supports English, Chinese and Japanese languages and primarily target e-commerce platforms and merchants as well as media companies in Greater China and Japan.
GliaCloud has been developing an AI-powered video creation and editing platform called GliaStudio which understands a topic users present in the form of a sentence.
The technologies that enable this functionality include content management, natural language processing, computer vision and video search. It has partnered 10 firms in Greater China and generates more than 1000 new video clips daily. One of its more notable partnerships is with Toutiao, a Chinese news curating app which recently raised $2 billion, as well as Taiwanese tech news media BusinessNext.
Nayuta raises $1.18m seed
Fukuoka-based blockchain startup Nayuta, which offers new technologies that combine IoT (Internet of Things) and blockchain, has closed a JPY 130 million investment. The company announced on Thursday that it has raised 140 million yen ($1.18 million) in a seed round from Tokyo-based VC firm Jafco and an unnamed angel investor.
To date, the startup has been self-funded with the investment being the first financial injection from external investors. Investment proceeds will be used to further product and technological development.
Founded in March 2015 by CEO Kenichi Kurimoto, who had previously been working on the development of a SoC (System on Chip) and research of software algorithm for LSI (large-scale integration) circuits, it develops public-blockchain technologies for real-world operational deployments.