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1. TRACXN MONTHLY REPORT
NOVEMBER 2021
JAPAN TECH

2. Japan Tech - November 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 6
Top Funded Business Models - last 1 year 8
New Analyst Picks 9
IPOs 11
Acquisitions 12
Recent News 13

3. Japan Tech - November 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Japan Tech Snapshot – November 2021
Japan Tech: Snapshot – November 2021
Note : "Investors" refers to "Institutional Investors" only
3
$210M
5 2
Overall Geo Stats
18
1
29
10
6
Funding Rounds $ Invested Analyst Picks
Linc'well Upgraded
to SOONICORN
New Investors
Puzzle Ventures
Adaptive Lab
Series A+ rounds Active Investors IPOs
Last One Mile
Photosynth
Acquisitions
Wake Up Interactive
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Tokyo
(2 Rounds, $2.5M)
Minato
(1 Rounds, $69.3M)
Nanao
(1 Rounds, $18M)
Bunkyo
(1 Rounds, $11.3M)
$109M - Series F
Astroscale (2013, Sumida-ku, $308M)
$69.3M - Series C
Linc'well (2018, Minato, $69.3M)
$18M - Series A
oVice (2020, Nanao, $18M)
$11.3M - Series B
Craif (2018, Bunkyo, $11.3M)
JAFCO
(1 Investments)
DCM Ventures
(1 Investments)
Bain Capital
(1 Investments)
Adaptive Lab
(1 Investments)
NewSpace
Astroscale
Healthcare IT
Linc'well
Healthcare Booking Platforms
Events Tech
oVice
Market Size
Companies Covered 5,290
Funded Companies 1,856
Total Funding $11.7B
Funding in last 12 months $2.1B
Top Exits
IPOs 323
Acquisitions 123
Company Stage
Unicorns 7
Soonicorns 38
Minicorns 143
Editor Picks 562
Series A+ 485
Series C+ 100
Acqui-Hires 1
Deadpooled 227
Top Cities
Tokyo (661 Rounds, $5.8B)
Minato (147 Rounds, $1.3B)
Top Investors
Mitsubishi UFJ Capital (107
Investments)
SMBC Venture Capital (79
Investments)

4. Japan Tech - November 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Japan Tech as of November 2021
Japan Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (November 2021)*
Astroscale
(2013, Sumida-ku, $308M)
$109M - Series F Bharti AXA Life Insurance
Linc'well
(2018, Minato, $69.3M)
$69.3M - Series C Bain Capital
oVice
(2020, Nanao, $18.0M)
$18.0M - Series A Eight Roads Ventures
Craif
(2018, Bunkyo, $11.3M)
$11.3M - Series B
IZUMI
(2021, Tokyo, $2.1M)
$2.1M - Seed Everest Ventures Group
Adgo
(2014, Tokyo, $8.6M)
$394K - Series A
*Shows only the lead Investors

5. Japan Tech - November 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds
List of Funding Rounds in Japan Tech in November 2021
Japan Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
5
LATE STAGE
$69.3M - Series C
Linc'well (2018, Minato, $69.3M)
Provider of a clinic management platform for medical
practices
Bain Capital, Incubate Fund, DCM Ventures, Pavilion
Capital Partners
LATE STAGE
$109.0M - Series F
Astroscale (2013, Sumida-ku, $307.7M)
Provider of satellite solutions for space debris removal
Bharti AXA Life Insurance, , DNCA Finance, , Innovation
Engine, and 3 more
EARLY STAGE
$393.7K - Series A
Adgo (2014, Tokyo, $8.6M)
AI-enabled social media ad campaign management
platform for advertisers
EARLY STAGE
$11.3M - Series B
Craif (2018, Bunkyo, $11.3M)
Developer of a device for cancer detection
EARLY STAGE
$18.0M - Series A
oVice (2020, Nanao, $18.0M)
Cloud based platform offering virtual event
management solutions
Eight Roads Ventures, One Capital Management, KB
Investment, MIRAISE, JAFCO, and 2 more
SEED STAGE
$2.1M - Seed
IZUMI (2021, Tokyo, $2.1M)
Liquidity mining platform for cryptocurrency
, Tess Ventures, Everest Ventures Group, WolfEdge
Capital, Youbi Capital, and 5 more

6. Japan Tech - November 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
New Investors (1/2)
List of New Investors in Japan Tech in November 2021
Japan Tech: List of New Investors
6
Investor Company Info Round Amount Round Name
Puzzle Ventures
4 portfolio companies | Blockchain focused investment firm
IZUMI
Liquidity mining platform for cryptocurrency
$2.10M Seed
Adaptive Lab
1 portfolio companies | Limited information available
IZUMI
Liquidity mining platform for cryptocurrency
$2.10M Seed
DNCA Finance
3 portfolio companies | Diversified investment management firm
Astroscale
Provider of satellite solutions for space debris removal
$109M Series F
Intermediate Capital Group
12 portfolio companies | Private equity & debt firm focused on multiple sectors
IZUMI
Liquidity mining platform for cryptocurrency
$2.10M Seed
Everest Ventures Group
7 portfolio companies | Startup studio focused on the fin-tech sector
IZUMI
Liquidity mining platform for cryptocurrency
$2.10M Seed
seraphimspaceinvestmenttrust.vdtrxn
1 portfolio companies | Limited information available
Astroscale
Provider of satellite solutions for space debris removal
$109M Series F
Opus Investment
1 portfolio companies | Provider of investment management services
Astroscale
Provider of satellite solutions for space debris removal
$109M Series F
NOTHING RESEARCH
5 portfolio companies | NOTHING RESEARCH
IZUMI
Liquidity mining platform for cryptocurrency
$2.10M Seed
Youbi Capital
28 portfolio companies | Fund of fund focused on green data economy
IZUMI
Liquidity mining platform for cryptocurrency
$2.10M Seed
lucidblueventures.vdtrxn
1 portfolio companies |
IZUMI
Liquidity mining platform for cryptocurrency
$2.10M Seed

7. Japan Tech - November 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
New Investors (2/2)
List of New Investors in Japan Tech in November 2021
Japan Tech: List of New Investors
7
Investor Company Info Round Amount Round Name
dncafinance.vdtrxn
1 portfolio companies | Limited information available
Astroscale
Provider of satellite solutions for space debris removal
$109M Series F
MIRAISE
1 portfolio companies |
oVice
Cloud based platform offering virtual event management solutions
$18.00M Series A
Bharti AXA Life Insurance
1 portfolio companies | Online insurance platform for life insurance
Astroscale
Provider of satellite solutions for space debris removal
$109M Series F
miranaventures.vdtrxn
1 portfolio companies |
IZUMI
Liquidity mining platform for cryptocurrency
$2.10M Seed
Bain Capital
83 portfolio companies | VC and PE fund investing in multiple sectors
Linc'well
Provider of a clinic management platform for medical practices
$69.35M Series C
WolfEdge Capital
2 portfolio companies | Venture capital fund investing in crypto & blockchain-
based startups
IZUMI
Liquidity mining platform for cryptocurrency
$2.10M Seed
Tess Ventures
3 portfolio companies | Provider of management consulting and business
management services
IZUMI
Liquidity mining platform for cryptocurrency
$2.10M Seed
eei-fund.com
1 portfolio companies | Provides education loan services
Astroscale
Provider of satellite solutions for space debris removal
$109M Series F

8. Japan Tech - November 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.
8
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 ▼-2 Space Debris Removal Services $109M 1 Astroscale | $109M | Series F
7 -- Online Doctor Appointment Booking Platform $69.3M 1 Linc'well | $69.3M | Series C
8 -- POS Payment Hardwares $66.0M 1 NETSTARS | $66.0M | Series A
9 ▲5 Crypto Banks $61.6M 1 Dicalet | $61.6M | Series C
10 -- Sleep Disorder Drugs $59.9M 1 Aculys | $59.9M | Series C

9. Japan Tech - November 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks (1/2)
Interesting Companies identified by Analysts in Japan Tech in November 2021
Japan Tech: Analyst Picks
9
Upgraded to SOONICORN
Linc'well (2018, Minato, $69.3M, Series C)
Provider of a clinic management platform for medical
practices
Bain Capital, Incubate Fund, Pavilion Capital Partners
and 2 other Investors
Upgraded to MINICORN
oVice (2020, Nanao, $18.0M, Series A)
Cloud based platform offering virtual event
management solutions
KB Investment, MIRAISE, One Capital Management and
4 other Investors
Added to Editor's Pick
Spika (2014, Tokyo, $420K, Seed)
Nail art photo sharing platform
B Dash Ventures, Incubate Fund, STRIVE and 1 other
Investors
Added to Editor's Pick
IZUMI (2021, Tokyo, $2.1M, Seed)
Liquidity mining platform for cryptocurrency
Tess Ventures, Everest Ventures Group, NOTHING
RESEARCH and 7 other Investors
Added to Editor's Pick
Point Town (1999, Shibuya, Unfunded)
App-based platform offering reward points and
coupons
Added to Editor's Pick
New Story (2020, Toshima, Unfunded)
Mobile game developers focusing on multi-genre
casual games

10. Japan Tech - November 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks (2/2)
Interesting Companies identified by Analysts in Japan Tech in November 2021
Japan Tech: Analyst Picks
10
Added to Editor's Pick
Mobaoku (2004, Shibuya, Unfunded)
Online auction marketplace platform offering second-
hand products
Added to Editor's Pick
SushiSwap (2020, Unfunded)
Online decentralized exchange platform for
cryptocurrencies
Digital Eyes Capital, Blockchain Capital, Rockaway
Blockchain Fund and 4 other Investors
Added to Editor's Pick
Pet notebook (2017, Minato, Unfunded)
App-based platform offering telemedicine for pets
Added to Editor's Pick
PancakeSwap (2020, Hiroshima, Unfunded)
Decentralized crypto exchange and betting platform
Blockchain Centreand

11. Japan Tech - November 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
IPO Date Company IPO Mcap Exchange Ticker
24 Nov 2021
Last One Mile (2018, Toshima, )
Provider of recruitment services
$0.0B TYO:9252
05 Nov 2021
Photosynth (2014, Minato, $52.6M)
Provider of cloud-based access control systems
$0.2B TYO:4379
IPOs
List of IPOs in Japan Tech in November 2021
Japan Tech: IPOs
11

12. Japan Tech - November 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Acquisitions
List of Acquisitions in Japan Tech in November 2021
Japan Tech: Acquisitions
12
Acq. Date Company Acquirer Deal Size
11 Nov 2021
Wake Up Interactive(2017, Minato)
Developer of PC and mobile-based action and adventurous video
games
Tencent $44.0M

13. Japan Tech - November 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Recent News (1/2)
Recent News in Japan Tech in November 2021
Japan Tech:News
13
Exit News
.
● Yokogawa’s Acquisition of Insilico Biotechnology Global Legal Chronicle
.
● Renesas to Acquire Celeno for $315 Million to Enhance its Wi-Fi Solutions
Portfolio EverythingRF
.
● Tencent buys maker of hit Nintendo Switch games Tech in Asia
.
● Tencent to acquire Japanese publishing company Kadokawa MARKETING-
INTERACTIVE
.
● Tencent recruits Japanese talents: 280 million yuan acquisition of Switch game
developers 36Kr
.
Fund News
.
● Olympus rolls out new venture fund Venture Capital Journal
.
People News
.
● Zirca Digital Solutions hires Mustali Kachwala as Head of Technology
BestMediaInfo

14. Japan Tech - November 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
14
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
News on People
News on Unicorns
Upcoming Events
Library
Recent Reports
Tracxn Blog
Global Sector Landscape

15. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
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