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TRACXN MONTHLY REPORT
OCTOBER 2021
JAPAN TECH

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Japan Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Contents
2
Japan Tech Snapshot 3
Investment Snapshot 4
List of Funding Rounds 5
New Investors 7
Top Funded Business Models - last 1 year 9
New Analyst Picks 10
IPOs 12
Acquisitions 13
Recent News 14

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Japan Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech Snapshot – October 2021
Japan Tech: Snapshot – October 2021
Note : "Investors" refers to "Institutional Investors" only
3
$83.3M
8 1
Overall Geo Stats
17
1
34
10
11
Funding Rounds $ Invested Analyst Picks
Aculys Upgraded to
SOONICORN
New Investors
Tably
finewillcap.com
Series A+ rounds Active Investors IPOs
PHC Holdings
Acquisitions
Langoo
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Tokyo
(3 Rounds, $9.4M)
Fujisawa
(1 Rounds, $59.9M)
Chuo
(1 Rounds, $10M)
Chiyoda-ku
(1 Rounds, $10M)
$59.9M - Series C
Aculys (2021, Fujisawa, $59.9M)
$10M - Series A
Autify (2016, Chuo, $13.1M)
$6.2M - Series B
Infostellar (2016, Tokyo, $17.0M)
$3.2M - Seed
Bisu (2003, Tokyo, $4.3M)
SMBC Venture Capital
(2 Investments)
Hiroshima Venture
Capital
(2 Investments)
Yamaguchi Capital
Corporation
(2 Investments)
Angel Bridge
(2 Investments)
Neurology
Aculys
Software Testing Tools
Autify
NewSpace
Infostellar
Disease Self Management
Bisu
Market Size
Companies Covered 5,188
Funded Companies 1,853
Total Funding $11.5B
Funding in last 12 months $1.9B
Top Exits
IPOs 322
Acquisitions 122
Company Stage
Unicorns 7
Soonicorns 37
Minicorns 142
Editor Picks 552
Series A+ 484
Series C+ 99
Acqui-Hires 1
Deadpooled 227
Top Cities
Tokyo (659 Rounds, $5.8B)
Minato (146 Rounds, $1.3B)
Top Investors
Mitsubishi UFJ Capital (107
Investments)
JAFCO (81 Investments)

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Japan Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Japan Tech as of October 2021
Japan Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (October 2021)*
Aculys
(2021, Fujisawa, $59.9M)
$59.9M - Series C SoftBank Vision Fund
Autify
(2016, Chuo, $13.1M)
$10.0M - Series A Uncorrelated Ventures
Infostellar
(2016, Tokyo, $17.0M)
$6.2M - Series B Mitsubishi Corporation
Bisu
(2003, Tokyo, $4.3M)
$3.2M - Seed QUAD
SmartRyde
(2017, Hiroshima, $1.6M)
$1.6M - Series A Angel Bridge
Smart Ryde
(2017, Minato, $1.6M)
$1.6M - Series A Angel Bridge
Citadel AI
(2020, Shibuya, $900K)
$900K - Seed UTokyo Innovation Platform
*Shows only the lead Investors

5.
Japan Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (1/2)
List of Funding Rounds in Japan Tech in October 2021
Japan Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
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LATE STAGE
$59.9M - Series C
Aculys (2021, Fujisawa, $59.9M)
Developer of therapeutic medicines to treat
neuropsychiatric disorders
SoftBank Vision Fund
LATE STAGE
Series C
ispace (2010, Tokyo, $195.5M)
Developing micro-robots that locate the resources
necessary to extend human life into outer space
Airbus Ventures, Axiom Asia
EARLY STAGE
$1.6M - Series A
Smart Ryde (2017, Minato, $1.6M)
Online platform offering taxi-hailing services for airport
transfers
Angel Bridge, Yamaguchi Capital Corporation, SMBC
Venture Capital, Hiroshima Venture Capital, , and 5
more
EARLY STAGE
$1.6M - Series A
SmartRyde (2017, Hiroshima, $1.6M)
App-based platform offering taxi services for airport
transfers
Angel Bridge, Yamaguchi Capital Corporation, SMBC
Venture Capital, Hiroshima Venture Capital, , and 5
more
EARLY STAGE
$6.2M - Series B
Infostellar (2016, Tokyo, $17.0M)
Provider of ground-based communication services with
satellites
Mitsubishi Corporation, ITOCHU, tb innovations, SPARX
Innovation for Future
EARLY STAGE
$10.0M - Series A
Autify (2016, Chuo, $13.1M)
AI based software testing automation platform
Uncorrelated Ventures, World Innovation Lab,
Salesforce, Tably, Archetype Ventures, and 1 more
EARLY STAGE
Series A
Wosado Beaute (2020, )
Internet first brand offering false eyelashes
Legend Star, Fortune Capital, Shenzhen SME Credit
Financing Guarantee Group,
EARLY STAGE
Series A
WARPSPACE (2016, Tsukuba, $9.0M)
Provider of satellite-based communication services
SBI Holdings, Mizuho Capital Mizuho Capital

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Japan Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (2/2)
List of Funding Rounds in Japan Tech in October 2021
Japan Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
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SEED STAGE
$900.2K - Seed
Citadel AI (2020, Shibuya, $900.2K)
Provider of ML model monitoring platform for
enterprises
UTokyo Innovation Platform, ANRI
SEED STAGE
$3.2M - Seed
Bisu (2003, Tokyo, $4.3M)
Provider of a portable device and app for monitoring
biomarkers in the urine sample
QUAD, ASICS, 15th Rock Ventures, SOSV, Pacific
Investments
SEED STAGE
Seed
VFR (2020, Chiyoda-ku)
Manufacturer of commercial drone systems for
multiple applications
Drone Fund

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Japan Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
New Investors (1/2)
List of New Investors in Japan Tech in October 2021
Japan Tech: List of New Investors
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Investor Company Info Round Amount Round Name
Tably
1 portfolio companies |
Autify
AI based software testing automation platform
$10.00M Series A
finewillcap.com
1 portfolio companies |
Wosado Beaute
Internet first brand offering false eyelashes
Undisclosed Series A
Uncorrelated Ventures
40 portfolio companies | Venture capital focused on infrastructure software
companies
Autify
AI based software testing automation platform
$10.00M Series A
Shenzhen SME Credit Financing Guarantee Group
2 portfolio companies | Provider of financial advisory services
Wosado Beaute
Internet first brand offering false eyelashes
Undisclosed Series A
Optima Ventures
2 portfolio companies | Venture capital fund focused on early-stage startups
Smart Ryde
Online platform offering taxi-hailing services for airport transfers
$1.60M Series A
Pacific Investments
1 portfolio companies | PE firm investing in the UK
Bisu
Provider of a portable device and app for monitoring biomarkers in the
urine sample
$3.20M Seed
Fortune Capital
109 portfolio companies | Growth stage VC firm investing in China
Wosado Beaute
Internet first brand offering false eyelashes
Undisclosed Series A
SG Incubate
2 portfolio companies | Corporate backed venture capital fund and sector
agnostic incubator
Smart Ryde
Online platform offering taxi-hailing services for airport transfers
$1.60M Series A
iyo-capital.co.jp
2 portfolio companies |
Smart Ryde
Online platform offering taxi-hailing services for airport transfers
$1.60M Series A
Legend Star
84 portfolio companies | VC firm investing primarily in China and a start up
incubator backed by Legend Holdings
Wosado Beaute
Internet first brand offering false eyelashes
Undisclosed Series A

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Japan Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
New Investors (2/2)
List of New Investors in Japan Tech in October 2021
Japan Tech: List of New Investors
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Investor Company Info Round Amount Round Name
QUAD
11 portfolio companies | Provider of portfolio management services
Bisu
Provider of a portable device and app for monitoring biomarkers in the
urine sample
$3.20M Seed
15th Rock Ventures
4 portfolio companies | Venture capital fund investing in tech sectors
Bisu
Provider of a portable device and app for monitoring biomarkers in the
urine sample
$3.20M Seed
Axiom Asia
5 portfolio companies | PE firm invests in Asia
ispace
Developing micro-robots that locate the resources necessary to extend
human life into outer space
Undisclosed Series C
ASICS
7 portfolio companies | Multi-sports footwear brand
Bisu
Provider of a portable device and app for monitoring biomarkers in the
urine sample
$3.20M Seed
SoftBank Vision Fund
263 portfolio companies | Venture capital fund backed by Softbank Group
Aculys
Developer of therapeutic medicines to treat neuropsychiatric disorders
$59.87M Series C
Inventum Ventures
2 portfolio companies | Venture capital fund focused on early-stage innovative
startups
Smart Ryde
Online platform offering taxi-hailing services for airport transfers
$1.60M Series A
tb innovations
1 portfolio companies | Venture capital fund focused on seed-stage to early-
stage venture companies
Infostellar
Provider of ground-based communication services with satellites
$6.16M Series B

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Japan Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Top Funded Business Models - last 1 year
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1
year.
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Rank Business Model $ Funding # Rounds Top Funding Round
1 -- Bio Based Textile Materials $313M 1 Spiber | $313M | Series E
2 -- Life Sciences Research Platforms & Tools $182M 1 PHC Holdings | $182M | Series D
3 -- HRMS for Enterprises $142M 1 SmartHR | $142M | Series D
4 -- Bio Composites $124M 1 LIMEX | $124M | Series D
5 -- Internet First Point of Sale Financing $120M 1 Paidy | $120M | Series D
6 -- POS Payment Hardwares $66.0M 1 NETSTARS | $66.0M | Series A
7 ▲10 Crypto Banks $61.6M 1 Dicalet | $61.6M | Series C
8 -- Sleep Disorder Drugs $59.9M 1 Aculys | $59.9M | Series C
9 --
Healthcare IT > Value Based Care > Care Coordination >
Care Planning & Management > Elderly
$50.0M 1 Allm | $50.0M | Series A
10 -- Mass Spectroscopy Imaging Systems $50.0M 1 Atonarp | $50.0M | Series D

10.
Japan Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks (1/2)
Interesting Companies identified by Analysts in Japan Tech in October 2021
Japan Tech: Analyst Picks
10
Upgraded to SOONICORN
Aculys (2021, Fujisawa, $59.9M, Series C)
Developer of therapeutic medicines to treat
neuropsychiatric disorders
SoftBank Vision Fundand
Added to Editor's Pick
Bisu (2003, Tokyo, $3.2M, Seed)
Provider of a portable device and app for monitoring
biomarkers in the urine sample
ASICS, QUAD, SOSV and 2 other Investors
Added to Editor's Pick
Citadel AI (2020, Shibuya, $900K, Seed)
Provider of ML model monitoring platform for
enterprises
UTokyo Innovation Platform,ANRIand
Added to Editor's Pick
Smart Ryde (2017, Minato, $1.6M, Series A)
Online platform offering taxi-hailing services for airport
transfers
Angel Bridge, Inventum Ventures, Shouji Kodama and 7
other Investors
Added to Editor's Pick
SmartRyde (2017, Hiroshima, $1.6M, Series A)
App-based platform offering taxi services for airport
transfers
Angel Bridge, Optima Ventures, Inventum Ventures
and 7 other Investors
Added to Editor's Pick
QR code creation (2015, Minato, Unfunded)
Provider of a QR code reading application
Added to Editor's Pick
SELF (2014, Shinjuku, Unfunded)
Provider of chatbot systems for customer support
Added to Editor's Pick
REMETIS (2020, Tokyo, Unfunded)
SaaS-driven market intelligence solution for real estate
professionals
Added to Editor's Pick
Kifutown (2021, Tokyo, Unfunded)
Mobile-based application for fundraising

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Japan Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks (2/2)
Interesting Companies identified by Analysts in Japan Tech in October 2021
Japan Tech: Analyst Picks
11
Added to Editor's Pick
PAI-R Co (2008, Osaka, Unfunded)
Digital health assessment tool for healthcare
professionals

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Japan Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
IPO Date Company IPO Mcap Exchange Ticker
14 Oct 2021
PHC Holdings (2014, Minato, $182M)
Provider of devices and services for life science research
$3.5B TYO:6523
IPOs
List of IPOs in Japan Tech in October 2021
Japan Tech: IPOs
12

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Japan Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Acquisitions
List of Acquisitions in Japan Tech in October 2021
Japan Tech: Acquisitions
13
Acq. Date Company Acquirer Deal Size
10 Oct 2021
Langoo(2018, Minato)
Online platform providing English language courses
Riiid

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Japan Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Recent News (1/2)
Recent News in Japan Tech in October 2021
Japan Tech:News
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Exit News
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● NetEase acquires Grasshopper ManufactureGamesIndustry
.
● PHC Holdings Co., Ltd .: Notice of listing on the First Section of the Tokyo Stock
Exchange Business Wire
.
● Japan-based CrowdWorks to acquire IT specialist Kodearu AIM Group
.
Fund News
.
● 2150 announces final close of its first fund at €268 million Tech.eu
.
People News
.
● kineso hires EVP Global Talent Business Wire
.
● Michael Komasinski Appointed Global CEO Merkle Business Wire
.
● Konica Minolta Announces New Senior Vice President, DX and Emerging
Businesses GlobeNewswire
.
● Dr. Markus Kuhn Appointed Fellow of the Rigaku Semiconductor Metrology
Division PRWeb

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Japan Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Explore more on Tracxn
Explore more about Japan Tech on Tracxn Platform
Japan Tech: Explore more on Tracxn Platform
15
Companies
Recent Companies Covered
Funded Companies
Editor's Pick
Soonicorn Club
SaaS Companies in Japan
AI Companies in Japan
Fintech Companies Japan
Consumer Digital in Japan
Company Due Diligence
Detailed profile of JOLED
Competitors of Geek+
Cap Tables of Spiber
Investment Activity
Recent Investments
Investment Trend of last 10 years
Mega Investments Rounds
Investors
Most Active Investors
Most Active Angel Investors
Unicorn Investors
Exits
IPO'd Companies
Recent Acquisitions
Most Active Acquirers
Recent Acquihires
News & Events
Recent News
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News on Unicorns
Upcoming Events
Library
Recent Reports
Tracxn Blog
Global Sector Landscape

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