We are back with our latest report on top #BusinessModels in based on #Tracxn's #proprietary #taxonomy rebrand.ly/d86lsci Get our free reports on geo of your interest to your mailbox regularly

1. TRACXN TOP BUSINESS MODELS REPORT
November 03, 2021
JAPAN TECH

2. Japan Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Contents
JapanJapan Tech Funding - Overview 3
Top Funded Business Models 4
One pagers 9
Appendix 56
2

3. Japan Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Funding in last 1 year
3
Advanced Materials $436M
Life Sciences Platforms and Tools $273M
Internet First Media $230M
HRTech $142M
NewSpace $93.1M
Photonics $60.3M
Y-o-Y Funding
Top Investors by Funding Rounds
Seed
Stage
SOSV
UTokyo Innovation
Platform
Rakuten
2
2
1
Early
Stage
JAFCO
SBI Holdings
ITOCHU Technology
Ventures
3
3
2
Late
Stage
Mitsubishi UFJ Capital
DBJ Capital
SBI Holdings
2
2
2
Funding by Geography
Top Feeds by $ Funding
Top Funding Rounds
$ Funding # Rounds
Spiber
(2007, Yamagata)
$313M - Series E
Smart News
(2012, Tokyo)
$230M - Series F
PHC Holdings
(2014, Minato)
$182M - Series D
SmartHR
(2015, Tokyo)
$142M - Series D
LIMEX
(2006, Tokyo)
$124M - Series D
Paidy
(2014, Tokyo)
$120M - Series D
NETSTARS
(2008, Chuo)
$66.0M - Series A
Dicalet
(2018, Chiyoda-ku)
$61.6M - Series C
Aculys
(2021, Fujisawa)
$59.9M - Series C
Allm
(2001, Shibuya)
$50.0M - Series A
Atonarp
(2009, Minato)
$50.0M - Series D
ispace
(2010, Tokyo)
$46.0M - Series C
Tokyo (44%)
Yamagata (16%)
Minato (13%)
Chuo (5%)
Shibuya (5%)
Others (16%)

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

5. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Japan Tech - Top Funded Business Models - last 1 year (2/5)
5
Rank Business Model $ Funding # Rounds Top Funding Round Details
11▼1 Rover Manufacturers $46.0M 2 ispace | $46.0M | Series C Link
12▲6 Drugs for Multiple Cancer Types $38.6M 4 Noile-Immune | $21.9M | Series C Link
13-- Pre School Management Software $36.5M 1 Unifa | $36.5M | Series D Link
14<> 0 Heart Failure Drugs $36.5M 1 Heartseed | $36.5M | Series C Link
15-- OLED Materials $34.3M 1 Kyulux | $34.3M | Series B Link
16-- OLED Components $34.3M 1 Kyulux | $34.3M | Series B Link
17-- Optoelectronic Light Emitting Diodes $34.3M 1 Kyulux | $34.3M | Series B Link
18▲2 Cell Sorting Instruments $26.0M 1 ThinkCyte | $26.0M | Series B Link
19-- Satellite Imagery Data Providers $23.8M 1 Axelspace | $23.8M | Series C Link
20-- Satellite Based Imaging Services $23.8M 1 Axelspace | $23.8M | Series C Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

6. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Japan Tech - Top Funded Business Models - last 1 year (3/5)
6
Rank Business Model $ Funding # Rounds Top Funding Round Details
21-- Travel Agency Management Software $20.3M 1 Reiwa Travel | $20.3M | Series B Link
22-- Crypto Exchanges $18.0M 1 Orca | $18.0M | Series A Link
23-- Space Robots $17.1M 1 GITAI | $17.1M | Series B Link
24▼15 Smart Locks $15.8M 2 Photosynth | $15.8M | Series C Link
25-- Drone Aerial Survey Services $14.2M 1 Terra Drone .. | $14.2M | Series A Link
26▲19 Congestive Heart Failure Treatment Devices $12.7M 1 Metcela | $12.7M | Series B Link
27-- AI based Software Testing $10.0M 1 Autify | $10.0M | Series A Link
28-- P2P Wallet Remittance $10.0M 1 Telcoin | $10.0M | Seed Link
29-- Synthetic Biology $7.3M 1 OriCiro Genom.. | $7.3M | Series B Link
30-- Nucleic Acid Synthesis Equipment $7.3M 1 OriCiro Genom.. | $7.3M | Series B Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

7. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Japan Tech - Top Funded Business Models - last 1 year (4/5)
7
Rank Business Model $ Funding # Rounds Top Funding Round Details
31-- Other Affinity-based Assays for Nucleic Acid Analysis $7.2M 1 Molcure | $7.2M | Series C Link
32-- Data Generation Screening $7.2M 1 Molcure | $7.2M | Series C Link
33▲13 Ground Station Networks $6.2M 1 Infostellar | $6.2M | Series B Link
34--
Knowledge Management Platforms for Customer
Support
$5.0M 1 NOTA | $5.0M | Series B Link
35-- Knowledge Management $5.0M 1 NOTA | $5.0M | Series B Link
36-- Automatic Speech Recognition Software $4.7M 1 Fairy Devices | $4.7M | Series A Link
37-- Body Chemistry Monitoring Devices $3.2M 1 Bisu | $3.2M | Seed Link
38-- Smart Contracts for Blockchain $2.4M 1 Plasm Network | $2.4M | Seed Link
39-- Online Ordering Solutions $2.0M 1 CO-NECT | $2.0M | Seed Link
40-- Colorectal Cancer Diagnostic Tests $1.9M 1 RIN Institute | $1.9M | Seed Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

8. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Japan Tech - Top Funded Business Models - last 1 year (5/5)
8
Rank Business Model $ Funding # Rounds Top Funding Round Details
41-- Online B2B Farm Produce Distributor $1.4M 1 Secai Marche | $1.4M | Seed Link
42-- Tech First Hotels $1.3M 1 Wayfarer | $1.3M | Seed Link
43-- Iot Memory Chip $1.2M 1 NanoBridge Se.. | $1.2M | Series A Link
44-- Cold Fusion Nuclear Reactors $1.1M 1 Kyoto Fusioneering | $1.1M | Seed Link
45-- Eye Tracking for VR $1.0M 1 Fove | $1.0M | Seed Link
46-- Crypto Portfolio Management $913K 1 Cryptact | $913K | Seed Link
47▼16 Social Media Ad Campaign Management $550K 1 Adgo | $550K | Series A Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

9. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Spiber (2007, Yamagata)
$313M - Series E - Sep 2021
Bio Based Textile Materials - Japan
01
9
Back to index
Fashion Tech (Locondo)
(# Cos: 131 | $564M)
Innovative Materials (Teijin Frontier)
(# Cos: 2 | $424M)
Sustainable Fabrics (Spiber)
(# Cos: 2 | $424M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$313M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$424M
1
-
2
1
Spiber
(2007, Yamagata, $424M)
Teijin Frontier
(2012, Osaka)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

10. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Life Sciences Research Platforms & Tools
- Japan
02
10
Back to index
Life Sciences Platforms and Tools (Nikon)
(# Cos: 170 | $487M)
Diversified (PHC Holdings)
(# Cos: 6 | $182M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$182M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$182M
3
3
6
0
PHC Holdings
(2014, Minato, $182M)
Medinet
(1995, Shinagawa)
Towa Pharmaceuticals
(1951, Osaka)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
PHC Holdings (2014, Minato)
$182M - Series D - Mar 2021

11. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
HRMS for Enterprises - Japan
03
11
Back to index
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$142M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$213M
3
2
8
1
HRTech (CrowdWorks)
(# Cos: 208 | $358M)
HRMS (Rifcom)
(# Cos: 27 | $218M)
Suite (kao Navi)
(# Cos: 12 | $213M)
Enterprise (SmartHR)
(# Cos: 8 | $213M)
SmartHR
(2015, Tokyo, $212M)
kao Navi
(2008, Minato)
Rifcom
(2014, Tokyo, $485K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
SmartHR (2015, Tokyo)
$142M - Series D - Jun 2021

12. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
LIMEX (2006, Tokyo)
$124M - Series D - Jul 2021
Bio Composites - Japan
04
12
Back to index
Advanced Materials (QD Laser)
(# Cos: 19 | $612M)
Biomaterials (U-PICA)
(# Cos: 2 | $124M)
Bio Composites (LIMEX)
(# Cos: 1 | $124M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$124M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$124M
1
-
1
1
LIMEX
(2006, Tokyo, $124M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

13. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Internet First Point of Sale Financing -
Japan
05
13
Back to index
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$120M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$281M
1
-
2
0
Alternative Lending (Net Protections)
(# Cos: 30 | $313M)
Online Lenders (Cloud Credit)
(# Cos: 23 | $313M)
Consumer Loans (Snippet)
(# Cos: 11 | $281M)
Point of Sale Financing (Sumitomo Mitsui
Card)
(# Cos: 2 | $281M)
Direct Lender (Paidy)
(# Cos: 2 | $281M)
Paidy
(2014, Tokyo, $281M)
Sumitomo Mitsui Card
(1967, Tokyo)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Paidy (2014, Tokyo)
$120M - Series D - Mar 2021

14. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
POS Payment Hardwares - Japan
06
14
Back to index
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$66.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$140M
2
-
3
1
Payments (Kyash)
(# Cos: 72 | $250M)
Business Payments (Net Protections)
(# Cos: 35 | $165M)
POS Payments (Ubiregi)
(# Cos: 9 | $162M)
POS Payment Terminal (Coiney)
(# Cos: 6 | $162M)
Hardware (NETSTARS)
(# Cos: 3 | $140M)
NETSTARS
(2008, Chuo, $130M)
Royal gate
(2007, Tokyo, $10.2M)
ANA Digital Gate
(2016, Tokyo)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
NETSTARS (2008, Chuo)
$66.0M - Series A - Apr 2021

15. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Dicalet (2018, Chiyoda-ku)
$61.6M - Series C - Mar 2021
Crypto Banks - Japan
07
15
Back to index
Cryptocurrencies (Liquid)
(# Cos: 125 | $247M)
Financial Services (bitFlyer)
(# Cos: 74 | $246M)
Banking (Dicalet)
(# Cos: 1 | $118M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$61.6M (▲143%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$118M
1
-
1
1
Dicalet
(2018, Chiyoda-ku, $118M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

16. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Aculys (2021, Fujisawa)
$59.9M - Series C - Oct 2021
Sleep Disorder Drugs - Japan
08
16
Back to index
Neurology (Eisai)
(# Cos: 23 | $69.9M)
Drugs (Sosei Heptares)
(# Cos: 13 | $68.5M)
Sleep (Aculys)
(# Cos: 1 | $59.9M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$59.9M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$59.9M
1
-
1
0
Aculys
(2021, Fujisawa, $59.9M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

17. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Healthcare IT > Value Based Care > Care Coordination > Care
Planning & Management > Elderly - Japan
09
17
Back to index
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$50.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$50.0M
2
-
2
1
Healthcare IT (CureApp)
(# Cos: 148 | $264M)
Value Based Care (Triple W Japan)
(# Cos: 31 | $93.3M)
Care Coordination (Embrace)
(# Cos: 9 | $53.7M)
Care Planning & Management (Mental
Health Technologies)
(# Cos: 7 | $53.7M)
Elderly (Allm)
(# Cos: 2 | $50.0M)
Allm
(2001, Shibuya, $50.0M)
Logic
(1995, Ishikawa)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Allm (2001, Shibuya)
$50.0M - Series A - Apr 2021

18. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Mass Spectroscopy Imaging Systems -
Japan
10
18
Back to index
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$50.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$111M
1
-
1
1
Life Sciences Platforms and Tools (PHC Holdings)
(# Cos: 170 | $487M)
Instruments (Olympus)
(# Cos: 31 | $220M)
Imaging Systems (Nikon)
(# Cos: 9 | $111M)
Spectroscopy (Rigaku)
(# Cos: 2 | $111M)
Mass Spectroscopy (Atonarp)
(# Cos: 1 | $111M)
Atonarp
(2009, Minato, $111M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Atonarp (2009, Minato)
$50.0M - Series D - May 2021

19. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
ispace (2010, Tokyo)
$46.0M - Series C - Aug 2021
ispace (2010, Tokyo)
Undisclosed - Series C - Oct 2021
Rover Manufacturers - Japan
11
19
Back to index
NewSpace (Astroscale)
(# Cos: 21 | $627M)
Space Hardware (SPACE WALKER)
(# Cos: 5 | $196M)
Rovers (ispace)
(# Cos: 1 | $196M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$46.0M (▲64.3%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$196M
1
-
1
1
ispace
(2010, Tokyo, $196M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

20. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Noile-Immune (2015, Tokyo)
$21.9M - Series C - Mar 2021
Prism Biolab (2006, Yokohama)
$11.8M - Series C - Sep 2021
J-Pharma (2005, Yokohama)
$4.9M - Series D - Jan 2021
KORTUC (2015, Minato)
Undisclosed - Seed - Jul 2021
Drugs for Multiple Cancer Types - Japan
12
20
Back to index
Oncology (ThinkCyte)
(# Cos: 67 | $282M)
Drugs (Anaeropharma)
(# Cos: 49 | $218M)
Diversified (Eisai)
(# Cos: 34 | $146M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$38.6M (▲136%)
4(▲33.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$146M
25
8
34
3
Eisai
(1941, Tokyo)
Anaeropharma
(2004, Chiyoda-ku, $49.3M)
SymBio Pharma
(2005, Minato, $24.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

21. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Unifa (2013, Nagoya)
$36.5M - Series D - Jun 2021
Pre School Management Software -
Japan
13
21
Back to index
Mom & Baby Care (Smart Education)
(# Cos: 52 | $79.1M)
ChildCare Providers (Kids Line)
(# Cos: 6 | $68.9M)
Management Softwares (Unifa)
(# Cos: 2 | $68.9M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$36.5M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$68.9M
1
-
2
1
Unifa
(2013, Nagoya, $68.9M)
News
(2021, Fukuoka)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

22. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Heartseed (2015, Shinjuku)
$36.5M - Series C - Jun 2021
Heart Failure Drugs - Japan
14
22
Back to index
Cardiac and Vascular Disorders (Metcela)
(# Cos: 29 | $99.1M)
Drugs (Daiichi Sankyo)
(# Cos: 5 | $76.4M)
Heart Failure (Heartseed)
(# Cos: 1 | $74.9M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$36.5M (▲41.6%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$74.9M
1
-
1
1
Heartseed
(2015, Shinjuku, $74.9M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

23. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Kyulux (2015, Fukuoka)
$34.3M - Series B - Feb 2021
OLED Materials - Japan
15
23
Back to index
Display Technology (Japan Display East)
(# Cos: 18 | $1.2B)
Material Provider (AvanStrate)
(# Cos: 3 | $84.4M)
OLED Materials (Kyulux)
(# Cos: 1 | $84.4M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$34.3M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$84.4M
1
-
1
1
Kyulux
(2015, Fukuoka, $84.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

24. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
OLED Components - Japan
16
24
Back to index
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$34.3M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$84.4M
1
-
1
1
Energy Efficiency Tech (Nature global)
(# Cos: 31 | $1.2B)
Lighting Products (JOLED)
(# Cos: 9 | $1.2B)
Optical Components (QD Laser)
(# Cos: 2 | $135M)
OLED (Kyulux)
(# Cos: 1 | $84.4M)
Kyulux
(2015, Fukuoka, $84.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Kyulux (2015, Fukuoka)
$34.3M - Series B - Feb 2021

25. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Optoelectronic Light Emitting Diodes -
Japan
17
25
Back to index
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$34.3M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$84.4M
2
-
4
1
Photonics (ThinkCyte)
(# Cos: 29 | $181M)
Optoelectronics (Fujikura)
(# Cos: 13 | $84.4M)
Diode (Nitride Semiconductor)
(# Cos: 4 | $84.4M)
Light Emitting Diodes (Kyulux)
(# Cos: 4 | $84.4M)
Kyulux
(2015, Fukuoka, $84.4M)
Nitride Semiconductor
(2000, Tokushima)
Nichia Corporation
(1956, Tokushima)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Kyulux (2015, Fukuoka)
$34.3M - Series B - Feb 2021

26. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Cell Sorting Instruments - Japan
18
26
Back to index
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$26.0M (▲73.3%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$45.0M
1
-
1
1
Life Sciences Platforms and Tools (PHC Holdings)
(# Cos: 170 | $487M)
Instruments (Nikon)
(# Cos: 31 | $220M)
Cell Biology (AdipoSeeds)
(# Cos: 3 | $45.0M)
Cell Sorting (ThinkCyte)
(# Cos: 1 | $45.0M)
ThinkCyte
(2016, Bunkyo, $45.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
ThinkCyte (2016, Bunkyo)
$26.0M - Series B - May 2021

27. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Axelspace (2008, Chuo)
$23.8M - Series C - May 2021
Satellite Imagery Data Providers - Japan
19
27
Back to index
Data as a Service (Uzabase)
(# Cos: 27 | $96.4M)
Geography (SmartDrive)
(# Cos: 3 | $72.3M)
Satellite Imagery Data (Axelspace)
(# Cos: 1 | $63.3M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$23.8M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$63.3M
1
-
1
1
Axelspace
(2008, Chuo, $63.3M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

28. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Satellite Based Imaging Services - Japan
20
28
Back to index
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$23.8M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$184M
3
-
5
2
NewSpace (ispace)
(# Cos: 21 | $627M)
Space Services (Astroscale)
(# Cos: 8 | $391M)
Imaging (Synspective)
(# Cos: 5 | $184M)
Satellite Based (Axelspace)
(# Cos: 5 | $184M)
Axelspace
(2008, Chuo, $63.3M)
Synspective
(2018, Koto, $99.7M)
iQPS
(2005, Fukuoka, $20.6M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Axelspace (2008, Chuo)
$23.8M - Series C - May 2021

29. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Travel Agency Management Software -
Japan
21
29
Back to index
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$20.3M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$20.3M
1
-
1
0
Online Travel (Relux)
(# Cos: 161 | $98.3M)
Technology Enablers (tripla)
(# Cos: 7 | $22.5M)
Travel Agency IT (TRAVESENS)
(# Cos: 2 | $20.3M)
Suite (Reiwa Travel)
(# Cos: 1 | $20.3M)
Reiwa Travel
(2021, Shibuya, $20.3M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Reiwa Travel (2021, Shibuya)
$20.3M - Series B - Jul 2021

30. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Crypto Exchanges - Japan
22
30
Back to index
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$18.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$72.0M
5
-
24
3
Cryptocurrencies (Dicalet)
(# Cos: 125 | $247M)
Financial Services (Cryptact)
(# Cos: 74 | $246M)
Investment Industry (Liquid)
(# Cos: 56 | $115M)
Crypto Exchanges (bitFlyer)
(# Cos: 24 | $72.0M)
bitFlyer
(2014, Minato, $34.0M)
Liquid
(2014, Tokyo, $20.0M)
Coincheck
(2012, Tokyo)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Orca (2020, Tokyo)
$18.0M - Series A - Sep 2021

31. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
GITAI (2016, Tokyo)
$17.1M - Series B - Feb 2021
Space Robots - Japan
23
31
Back to index
NewSpace (Astroscale)
(# Cos: 21 | $627M)
Support Engineering (Pale Blue)
(# Cos: 4 | $22.4M)
Space Robots (GITAI)
(# Cos: 1 | $22.4M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$17.1M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$22.4M
1
-
1
1
GITAI
(2016, Tokyo, $22.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

32. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Smart Locks - Japan
24
32
Back to index
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$15.8M (▼52.1%)
2( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$76.9M
4
-
7
2
Smart Homes (Nature global)
(# Cos: 35 | $76.9M)
Home Security (Safie)
(# Cos: 14 | $76.9M)
Access Control (Akerun)
(# Cos: 9 | $76.9M)
Smart Lock and Key (Photosynth)
(# Cos: 8 | $76.9M)
Locks (Bitkey)
(# Cos: 7 | $76.9M)
Bitkey
(2018, Chuo, $20.6M)
Photosynth
(2014, Minato, $52.6M)
Akerun
(2014, Tokyo, $3.8M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Photosynth (2014, Minato)
$15.8M - Series C - Jul 2021
Bitkey (2018, Chuo)
Undisclosed - Series A - May 2021

33. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Terra Drone Corp (2017, Shibuya)
$14.2M - Series A - Feb 2021
Drone Aerial Survey Services - Japan
25
33
Back to index
Drones (Sensyn Robotics)
(# Cos: 37 | $109M)
Tech Enabled Services (Metroweather)
(# Cos: 9 | $16.1M)
Aerial Surveying (Terra Drone Corp)
(# Cos: 2 | $14.2M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$14.2M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$14.2M
1
-
2
1
Terra Drone Corp
(2017, Shibuya, $14.2M)
Awa Drone
(2015, Tokushima)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

34. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Congestive Heart Failure Treatment
Devices - Japan
26
34
Back to index
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$12.7M (▲218%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$22.7M
1
-
1
1
Cardiac and Vascular Disorders (Heartseed)
(# Cos: 29 | $99.1M)
Medical Devices (Omron)
(# Cos: 21 | $22.7M)
Therapeutic Devices (Asahi Intecc)
(# Cos: 11 | $22.7M)
Congestive Heart Failure
(Metcela)
(# Cos: 1 | $22.7M)
Metcela
(2016, Kanagawa, $22.7M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Metcela (2016, Kanagawa)
$12.7M - Series B - Jan 2021

35. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Autify (2016, Chuo)
$10.0M - Series A - Oct 2021
AI based Software Testing - Japan
27
35
Back to index
Software Testing Tools (DeployGate)
(# Cos: 12 | $13.1M)
Automated Testing Tools (Rocro)
(# Cos: 6 | $13.1M)
AI based (Autify)
(# Cos: 1 | $13.1M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$10.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$13.1M
1
-
1
1
Autify
(2016, Chuo, $13.1M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

36. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
P2P Wallet Remittance - Japan
28
36
Back to index
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$10.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$10.0M
1
-
5
1
Remittance (Money Tap)
(# Cos: 13 | $10.0M)
Internet First Platforms (Smiles)
(# Cos: 12 | $10.0M)
P2P Remittance (pring)
(# Cos: 12 | $10.0M)
Wallet Transfer (Telcoin)
(# Cos: 5 | $10.0M)
Telcoin
(2013, Shibuya, $10.0M)
Digital Wallet
(2014, Chiyoda-ku)
Webllet
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Telcoin (2013, Shibuya)
$10.0M - Seed - Jul 2021

37. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
OriCiro Genomics (2018, Tokyo)
$7.3M - Series B - Jul 2021
Synthetic Biology - Japan
29
37
Back to index
Genomics (LPixel)
(# Cos: 89 | $236M)
Applied Genomics (Molcure)
(# Cos: 38 | $149M)
Synthetic Biology (OriCiro Genomics)
(# Cos: 1 | $12.8M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$7.3M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$12.8M
1
-
1
1
OriCiro Genomics
(2018, Tokyo, $12.8M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

38. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Nucleic Acid Synthesis Equipment -
Japan
30
38
Back to index
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$7.3M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$12.8M
2
1
3
1
Life Sciences Platforms and Tools (PHC Holdings)
(# Cos: 170 | $487M)
Instruments (Nikon)
(# Cos: 31 | $220M)
Genomics (Quantum Biosystems)
(# Cos: 6 | $47.8M)
Nucleic Acid Synthesis (OriCiro
Genomics)
(# Cos: 3 | $12.8M)
OriCiro Genomics
(2018, Tokyo, $12.8M)
Precision System Science
(1985, Matsudo)
BEX
(1990, Tokyo)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
OriCiro Genomics (2018, Tokyo)
$7.3M - Series B - Jul 2021

39. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Other Affinity-based Assays for Nucleic Acid
Analysis - Japan
31
39
Back to index
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$7.2M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$11.7M
1
-
1
1
Genomics (LPixel)
(# Cos: 89 | $236M)
Applied Genomics (OriCiro Genomics)
(# Cos: 38 | $149M)
Clinical Genomics (Modalis Therapeutics)
(# Cos: 27 | $92.9M)
Diagnostics (TL Genomics)
(# Cos: 13 | $11.7M)
Hybridization-based (KUBIX)
(# Cos: 2 | $11.7M)
Other Affinity-based Assays
(Molcure)
(# Cos: 1 | $11.7M)
Molcure
(2013, Tokyo, $11.7M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Molcure (2013, Tokyo)
$7.2M - Series C - Aug 2021

40. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Data Generation Screening - Japan
32
40
Back to index
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$7.2M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$11.7M
1
-
2
1
Life Sciences Platforms and Tools (Nikon)
(# Cos: 170 | $487M)
Research Assays (Synplogen)
(# Cos: 9 | $11.7M)
Drug Discovery (Carna Biosciences)
(# Cos: 7 | $11.7M)
High Throughput Screening (HTS)
(Molcure)
(# Cos: 2 | $11.7M)
Molcure
(2013, Tokyo, $11.7M)
Primetech Corporation
(1988, Bunkyo)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Molcure (2013, Tokyo)
$7.2M - Series C - Aug 2021

41. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Infostellar (2016, Tokyo)
$6.2M - Series B - Oct 2021
Ground Station Networks - Japan
33
41
Back to index
NewSpace (Astroscale)
(# Cos: 21 | $627M)
Network Operators (Skyagte Technologies)
(# Cos: 2 | $17.0M)
Ground Stations (Infostellar)
(# Cos: 2 | $17.0M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$6.2M (▲76%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$17.0M
2
-
2
1
Infostellar
(2016, Tokyo, $17.0M)
Skyagte Technologies
(2020, Tokyo)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

42. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Knowledge Management Platforms for
Customer Support - Japan
34
42
Back to index
Customer Service Software (Cinnamon)
(# Cos: 40 | $36.0M)
Knowledge Management (NOTA)
(# Cos: 1 | $7.0M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$5.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$7.0M
1
-
1
1
NOTA
(2007, Kyoto, $7.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
NOTA (2007, Kyoto)
$5.0M - Series B - Apr 2021

43. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Knowledge Management - Japan
35
43
Back to index
Enterprise Collaboration (Nulab)
(# Cos: 67 | $52.2M)
Knowledge Management (NOTA)
(# Cos: 1 | $7.0M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$5.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$7.0M
1
-
1
1
NOTA
(2007, Kyoto, $7.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
NOTA (2007, Kyoto)
$5.0M - Series B - Apr 2021

44. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Automatic Speech Recognition Software
- Japan
36
44
Back to index
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$4.7M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$7.9M
4
1
4
1
Speech and Voice Recognition (Cinnamon)
(# Cos: 13 | $37.7M)
Technology Providers (Hmcomm)
(# Cos: 4 | $7.9M)
Software (Studio Ousia)
(# Cos: 4 | $7.9M)
Automatic Speech Recognition
(Fairy Devices)
(# Cos: 4 | $7.9M)
Fairy Devices
(2008, Tokyo, $4.7M)
Studio Ousia
(2007, Chiyoda-ku, $3.2M)
Hmcomm
(2012, Tokyo)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Fairy Devices (2008, Tokyo)
$4.7M - Series A - Feb 2021

45. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Body Chemistry Monitoring Devices -
Japan
37
45
Back to index
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$3.2M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$4.3M
2
-
2
0
Disease Self Management (CureApp)
(# Cos: 87 | $74.2M)
Body Health Parameters (hakarun)
(# Cos: 10 | $4.3M)
Monitoring (Omron)
(# Cos: 10 | $4.3M)
Body Chemistry (Symax)
(# Cos: 2 | $4.3M)
Device (Bisu)
(# Cos: 2 | $4.3M)
Bisu
(2003, Tokyo, $4.3M)
Symax
(2014, Tokyo)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Bisu (2003, Tokyo)
$3.2M - Seed - Oct 2021

46. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Smart Contracts for Blockchain - Japan
38
46
Back to index
Blockchain Infrastructure (Curvegrid)
(# Cos: 19 | $7.0M)
Smart Contracts (Plasm Network)
(# Cos: 4 | $2.4M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$2.4M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$2.4M
2
-
4
0
Plasm Network
(2019, $2.4M)
Datachain
(2018, Roppongi)
Realitio
(2012, Tochigi)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Plasm Network (2019)
$2.4M - Seed - Feb 2021

47. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Online Ordering Solutions - Japan
39
47
Back to index
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$2.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$4.9M
4
-
4
0
Food Tech (DELISH KITCHEN)
(# Cos: 102 | $271M)
Technology Enablers (Aroma Bit)
(# Cos: 17 | $63.2M)
Restaurants (Toreta)
(# Cos: 14 | $56.4M)
Online Ordering Solutions (CO-
NECT)
(# Cos: 4 | $4.9M)
CO-NECT
(2015, Shinagawa, $2.0M)
Favy
(2014, Shinjuku, $2.9M)
Dinii
(2018, Shibuya)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
CO-NECT (2015, Shinagawa)
$2.0M - Seed - Dec 2020

48. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Colorectal Cancer Diagnostic Tests -
Japan
40
48
Back to index
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$1.9M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$1.9M
3
-
3
0
Oncology (Eisai)
(# Cos: 67 | $282M)
In-Vitro Diagnostic Tests (LPixel)
(# Cos: 14 | $18.7M)
Gastrointestinal Cancer (ProtoSera)
(# Cos: 4 | $1.9M)
Colorectal Cancer (RIN Institute)
(# Cos: 3 | $1.9M)
RIN Institute
(2016, Chuo, $1.9M)
ProtoSera
(2004, Amagasaki)
KUBIX
(2004, Nonoichi)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
RIN Institute (2016, Chuo)
$1.9M - Seed - Jan 2021

49. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Online B2B Farm Produce Distributor -
Japan
41
49
Back to index
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$1.4M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$3.0M
1
-
2
0
Online Grocery (Snaq.me)
(# Cos: 71 | $229M)
B2B Ecommerce (Hachimenroppi)
(# Cos: 11 | $104M)
Farm Produce (Foodison)
(# Cos: 8 | $95.7M)
Multi-Category (Planet Table)
(# Cos: 4 | $14.5M)
E-Distributor (Secai Marche)
(# Cos: 2 | $3.0M)
Secai Marche
(2018, Tokyo, $3.0M)
Seasons
(2016, Shibuya)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Secai Marche (2018, Tokyo)
$1.4M - Seed - May 2021

50. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Tech First Hotels - Japan
42
50
Back to index
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$1.3M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$5.1M
2
-
2
1
Online Travel (sotoshiru)
(# Cos: 161 | $98.3M)
Accommodation (atta)
(# Cos: 25 | $34.7M)
Hotel (Relux)
(# Cos: 12 | $30.4M)
Tech First Hotels (Squeeze)
(# Cos: 2 | $5.1M)
Squeeze
(2014, Tokyo, $3.8M)
Wayfarer
(2019, Shibuya, $1.3M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Wayfarer (2019, Shibuya)
$1.3M - Seed - Dec 2020

51. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
NanoBridge Semicond.. (2019, Tsukuba)
$1.2M - Series A - Dec 2020
Iot Memory Chip - Japan
43
51
Back to index
Internet of Things Infrastructure (Soracom)
(# Cos: 71 | $73.7M)
IoT Chips (THine Electronics)
(# Cos: 6 | $1.2M)
Memory Chips (NanoBridge
Semiconductor)
(# Cos: 1 | $1.2M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$1.2M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$1.2M
1
-
1
1
NanoBridge Semiconductor
(2019, Tsukuba, $1.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

52. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Cold Fusion Nuclear Reactors - Japan
44
52
Back to index
Cold Fusion (Kyoto Fusioneering)
(# Cos: 1 | $3.3M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$1.1M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$3.3M
1
-
1
0
Kyoto Fusioneering
(2019, Uji, $3.3M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Kyoto Fusioneering (2019, Uji)
$1.1M - Seed - Jan 2021

53. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Eye Tracking for VR - Japan
45
53
Back to index
Virtual Reality (Fove)
(# Cos: 1 | $12.0M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$1.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$12.0M
1
-
1
1
Fove
(2014, Tokyo, $12.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Fove (2014, Tokyo)
$1.0M - Seed - Jul 2021

54. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Crypto Portfolio Management - Japan
46
54
Back to index
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$913K ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$4.8M
3
-
5
0
Cryptocurrencies (Dicalet)
(# Cos: 125 | $247M)
Financial Services (Liquid)
(# Cos: 74 | $246M)
Investment Industry (bitFlyer)
(# Cos: 56 | $115M)
Trading Enablers (Quoine)
(# Cos: 9 | $35.8M)
Portfolio Management (Cryptact)
(# Cos: 5 | $4.8M)
Cryptact
(2018, Chiyoda-ku, $3.8M)
Caspian
(2018, Tokyo)
Coinboard
(2017, Shibuya, $937K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Cryptact (2018, Chiyoda-ku)
$913K - Seed - Jun 2021

55. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Adgo (2014, Tokyo)
$550K - Series A - Dec 2020
Social Media Ad Campaign Management
- Japan
47
55
Back to index
AdTech (Adways)
(# Cos: 69 | $66.6M)
Campaign Management Platform (Albert)
(# Cos: 5 | $8.2M)
Social Media (Adgo)
(# Cos: 3 | $8.2M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$550K (▼92.8%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$8.2M
1
-
3
1
Adgo
(2014, Tokyo, $8.2M)
Pyxis-Social
(2013, Shinjuku)
Ad Listing
(2012, Chiyoda-ku)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

56. Japan Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Recent funding rounds
Investment Trends
Most Active Investors
Top Funded Business Models
Explore more on Tracxn
All Tech Companies
Japan Tech Companies
Online Travel Companies
Companies using AI in Healthcare
Companies founded by Stanford GSB Alumni
Soonicorn club in Fintech
Analyst Picks in Japan Tech
Key News in FinTech
Events in United States
Angel Investors in Japan
Bluebox
Companies Investment Activity
Miscellaneous
Company Detail Page of Locondo
Competitors of bitFlyer
Cap Table for TransferWise
Financials for Ola
Employee Count for Revolut
Company Due Diligence Exits
Public Companies
Acquired Companies
Most Active Acquirers
Reports
Delhivery - Company Report
Novel Foods - Business Model Report
HRTech - Feed Report
FinTech - Top Business Models Report
US Tech - Top Business Models Report
US Tech - Monthly Report
56

57. Japan Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Explore other Reports on Tracxn
HRTech
InsurTech
Food Tech
Novel Foods
Blockchain Network
P2P Remittance
Business Model Reports
Consumer Digital - Japan
Enterprise Tech - Japan
HiTech - Japan
Feed Geo Reports
Company Reports
Monthly Unicorn Report
Unicorn Reports
Transferwise
Coursera
BigBasket
Feed Reports Top Business Models in PA
FinTech
Enterprise Applications
Artificial Intelligence
Geo Monthly Reports
US Tech
Europe Tech
China Tech
Top Business Models in Geo
India Tech
Israel Tech
UK & Ireland Tech
57

58. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech - Top Business Models Report
Thank You
58
Any and all information either accessed from the website www.tracxn.com or having otherwise originated from Tracxn Technologies Limited including but not limited to the information
contained herein ("Data") is the sole property of Tracxn Technologies Limited (hereinafter "Tracxn"). You shall not recirculate, distribute, transmit, publish, or sell the Data or any portion
thereof in any form or by any means, either for commercial or non-commercial use, or permit any third party to use or distribute the Data or any portion thereof; to any other party, except
with the prior written consent of Tracxn. You may however incorporate insubstantial portions, extracts, abstracts or summaries from the Data into analysis, presentations or tools for your
customers or for your internal use, so long as Tracxn is clearly and visibly identified as the source of information.
For further information please refer to our Terms of Use at www.tracxn.com