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

2. Japan Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Contents
JapanJapan Tech Funding - Overview 3
Top Funded Business Models 4
One pagers 9
Appendix 59
2

3. Japan Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Funding in last 1 year
3
Display Technology $315M
Diabetes $182M
Logistics Tech $176M
Alternative Lending $120M
NewSpace $99.1M
Cryptocurrencies $61.6M
Y-o-Y Funding
Top Investors by Funding Rounds
Seed
Stage
Global Brain
Monex Ventures
Coral Capital
2
2
2
Early
Stage
ITOCHU Technology
Ventures
Mitsubishi UFJ Capital
University of Tokyo Edge ..
3
3
3
Late
Stage
NTT DOCOMO Ventures
Globis Capital Partners
I-NET
2
2
2
Funding by Geography
Top Feeds by $ Funding
Top Funding Rounds
$ Funding # Rounds
JOLED
(2015, Tokyo)
$281M - PE
PHC Holdings
(2014, Minato)
$182M - Series D
Paidy
(2014, Tokyo)
$120M - Series D
Line Man
(2008, Tokyo)
$110M - Series D
Tier Ⅳ
(2015, Nagoya)
$92.3M - Series B
NETSTARS
(2008, Chuo)
$66.0M - Series A
Dicalet
(2018, Chiyoda-ku)
$61.6M - Series C
Astroscale
(2013, Sumida-ku)
$51.0M - Series E
Allm
(2001, Shibuya)
$50.0M - Series A
Geek+
(2015, Inzai)
$50.0M - Series C
Andpad
(2016, Chiyoda-ku)
$37.4M - Series C
SkyDrive
(2018, Shinjuku)
$37.0M - Series B
Tokyo (43%)
Minato (15%)
Chiyoda-ku (7%)
Chuo (6%)
Nagoya (6%)
Others (22%)

4. Copyright © 2021, Tracxn Technologies Private 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-- Wearables for Diabetes Monitoring $182M 1 PHC Holdings | $182M | Series D Link
2--
Diabetes > Medical Devices > Monitoring Devices >
On Demand > Non-Invasive
$182M 1 PHC Holdings | $182M | Series D Link
3▲3 Internet First Direct Lender Purchase Financing $120M 1 Paidy | $120M | Series D Link
4-- B2C Hyperlocal Delivery $110M 1 Line Man | $110M | Series D Link
5▼1 Self Driving Cars $92.3M 1 Tier Ⅳ | $92.3M | Series B Link
6▲5 Crypto Banks $61.6M 1 Dicalet | $61.6M | Series C Link
7-- Construction Field Management Software $56.3M 2 Andpad | $37.4M | Series C Link
8▲39 Construction Operations Management Platform $56.3M 2 Andpad | $37.4M | Series C Link
9--
NewSpace > Space Services > Space Debris >
Removal
$51.0M 2 Astroscale | $51.0M | Series E Link
10▼8
Professional Service Robots > Logistics > Warehouse
Automation
$50.0M 2 Geek+ | $50.0M | Series C 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 Private 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--
Healthcare IT > Value Based Care > Care
Coordination > Care Planning & Management >
Elderly
$50.0M 1 Allm | $50.0M | Series A Link
12▼11 Warehouse Automation Tools $50.0M 1 Geek+ | $50.0M | Series C Link
13▼10 Warehouse Robotics and Automation $50.0M 1 Geek+ | $50.0M | Series C Link
14▲42 Professional Service Robots > Space $45.1M 2 ispace | $28.0M | Series B Link
15▲20 Electric Aerial Vehicles $37.0M 1 SkyDrive | $37.0M | Series B Link
16▲2 OLED Materials $34.3M 1 Kyulux | $34.3M | Series B Link
17▲2
Energy Efficiency Tech > Lighting Products > Optical
Components > OLED
$34.3M 1 Kyulux | $34.3M | Series B Link
18▲2
Photonics > Optoelectronics > Diode > Light Emitting
Diodes
$34.3M 1 Kyulux | $34.3M | Series B Link
19▲9 Smart Locks $33.0M 1 Photosynth | $33.0M | Series C Link
20-- NewSpace > Space Hardware > Rovers $28.0M 1 ispace | $28.0M | Series B 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 Private 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--
Healthcare IT > Provider > Hospital Information
Systems > Patient Portal > Pre-admissions
$18.7M 1 Ubie | $18.7M | Series B Link
22-- Symptom Tracking Solutions $18.7M 1 Ubie | $18.7M | Series B Link
23-- Heart Failure Therapy Devices $16.7M 2 Metcela | $12.7M | Series B Link
24-- Shipping and Fulfillment Enablers $16.2M 1 Open Logi | $16.2M | Series C Link
25-- Biotech R&D > Research Software > Image Analysis $15.0M 1 ThinkCyte | $15.0M | Series A Link
26--
Diagnostics (by Technology) > Devices and
Instruments > Cell and Tissue Analysis > Cell Isola..
$15.0M 1 ThinkCyte | $15.0M | Series A Link
27--
Photonics > Biophotonics > Optical
Micromanipulation > Cell Sorting
$15.0M 1 ThinkCyte | $15.0M | Series A Link
28-- Diversified Diagnostics > Tests $15.0M 1 ThinkCyte | $15.0M | Series A Link
29-- Aerial Imagery $14.2M 1 Terra Drone .. | $14.2M | Series A Link
30--
Beauty Tech > Ecommerce > Men's Grooming >
Multi-Category > Organic > Internet First Brand
$14.1M 1 Bulk Homm | $14.1M | 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 Private 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--
Internet First Natural Beauty and Personal Care
Brands
$14.1M 1 Bulk Homm | $14.1M | Series B Link
32--
Embedded Systems > Embedded Hardware >
Memory > Non-Volatile
$11.5M 1 Floadia | $11.5M | Series C Link
33-- Drug Delivery > Diversified $9.8M 1 LUCA Science | $9.8M | Series A Link
34-- Home Improvements > Community Platforms $9.4M 1 RoomClip | $9.4M | Series D Link
35--
Virtual Reality > Applications > Retail > Enablers >
Fashion
$8.5M 1 Psychic VR Lab | $8.5M | Series A Link
36-- PC & Console Core VR Game Developers $8.5M 1 Thirdverse | $8.5M | Series A Link
37-- Social Media $8.2M 2 Adgo | $7.6M | Series A Link
38-- Lead Generation Platforms for Local Businesses $7.5M 1 Zehitomo | $7.5M | Series B Link
39--
Food Tech > Novel Foods > Food Products >
Alternative Proteins > Meat Substitute > Lab Grown
$7.4M 1 Integriculture | $7.4M | Series A Link
40--
Connected Vehicles > Connectivity Solutions >
Middleware Solutions
$7.3M 1 aptpod | $7.3M | Series C 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 Private 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-- Call Analytics $6.6M 1 RevComm | $6.6M | Series A Link
42--
Genomics > Enabling Technologies > Instrument
Systems > Single Cell Genomics
$6.6M 1 bitBiome | $6.6M | Series B Link
43-- Gamer Community $6.0M 1 PlayBrain | $6.0M | Series A Link
44-- Bionic Prosthetics $5.2M 1 BionicM | $5.2M | Series A Link
45--
Assistive Tech > Assistive Hardware > Mobility >
Prostheses
$5.2M 1 BionicM | $5.2M | Series A Link
46--
Knowledge Management Platforms for Customer
Support
$5.0M 1 NOTA | $5.0M | Series B Link
47-- Knowledge Management $5.0M 1 NOTA | $5.0M | Series B Link
48-- Automatic Speech Recognition Software $4.7M 1 Fairy Devices | $4.7M | Series A Link
49-- Satellite Communication Services $3.0M 1 WARPSPACE | $3.0M | Series A Link
50--
Electronic Design Automation Tools > Verification
Tools > Physical Verification
$2.9M 1 Saki corporation | $2.9M | Seed 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 Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
PHC Holdings (2014, Minato)
$182M - Series D - Mar 2021
Wearables for Diabetes Monitoring -
Japan
01
9
Back to index
Wearable Technology (Xenoma)
(# Cos: 49 | $203M)
Health and Wellness Devices (Susmed)
(# Cos: 13 | $186M)
Diabetes Monitoring (PHC Holdings)
(# Cos: 3 | $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
2
-
3
0
PHC Holdings
(2014, Minato, $182M)
Light Touch Technology
(2017, Kyoto)
GlucoScanner
(2016, Shinjuku)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

10. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Diabetes > Medical Devices > Monitoring Devices > On
Demand > Non-Invasive - Japan
02
10
Back to index
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
2
-
3
0
Diabetes (Restore Vision)
(# Cos: 7 | $182M)
Medical Devices (Symax)
(# Cos: 4 | $182M)
Monitoring Devices (GlucoScanner)
(# Cos: 3 | $182M)
On Demand (Light Touch Technology)
(# Cos: 3 | $182M)
Non-Invasive (PHC Holdings)
(# Cos: 3 | $182M)
PHC Holdings
(2014, Minato, $182M)
Light Touch Technology
(2017, Kyoto)
GlucoScanner
(2016, Shinjuku)
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 Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Internet First Direct Lender Purchase
Financing - 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
$120M (▲44.6%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$281M
1
-
1
1
Alternative Lending (Olta)
(# Cos: 20 | $313M)
Online Lenders (Cloud Credit)
(# Cos: 18 | $313M)
Consumer Loans (Global Mobility Service)
(# Cos: 8 | $281M)
Direct Lender (Paidy)
(# Cos: 1 | $281M)
Paidy
(2014, Tokyo, $281M)
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

12. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
B2C Hyperlocal Delivery - Japan
04
12
Back to index
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$110M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$137M
5
1
6
2
Logistics Tech (Geek+)
(# Cos: 47 | $618M)
Parcel (Optimind)
(# Cos: 15 | $137M)
Hyperlocal Delivery (Gochikuru)
(# Cos: 6 | $137M)
B2C (Line Man)
(# Cos: 6 | $137M)
Line Man
(2008, Tokyo, $110M)
Gochikuru
(2009, Tokyo, $27.4M)
Maishoku
(2011, Tokyo)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Line Man (2008, Tokyo)
$110M - Series D - Jul 2020

13. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Tier Ⅳ (2015, Nagoya)
$92.3M - Series B - Aug 2020
Self Driving Cars - Japan
05
13
Back to index
Autonomous Vehicles (Ascent Robotics)
(# Cos: 13 | $438M)
Self Driving Technology (ZMP)
(# Cos: 5 | $231M)
Cars (Tier Ⅳ)
(# Cos: 5 | $231M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$92.3M (▼15.4%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$231M
2
-
5
1
Tier Ⅳ
(2015, Nagoya, $230M)
ZMP
(2001, Tokyo, $842K)
TRI-AD
(2018, Chuo)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

14. Copyright © 2021, Tracxn Technologies Private 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
06
14
Back to index
Cryptocurrencies (Quoine)
(# Cos: 119 | $207M)
Financial Services (Liquid)
(# Cos: 69 | $205M)
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 (▲8.8%)
1(▼50%)
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.

15. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Construction Field Management
Software - Japan
07
15
Back to index
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$56.3M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$56.3M
4
1
4
1
Construction Tech (AllStocker)
(# Cos: 27 | $96.4M)
Project Management (Photoruction)
(# Cos: 14 | $79.9M)
Field Management (SpiderPlus & Co)
(# Cos: 5 | $56.3M)
Suite (Andpad)
(# Cos: 4 | $56.3M)
Andpad
(2016, Chiyoda-ku, $56.3M)
SpiderPlus & Co
(1997, Toshima)
SpiderPlus
(2014, Toshima)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Andpad (2016, Chiyoda-ku)
$37.4M - Series C - Jul 2020
Andpad (2016, Chiyoda-ku)
$18.9M - Series C - Oct 2020

16. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Andpad (2016, Chiyoda-ku)
$37.4M - Series C - Jul 2020
Andpad (2016, Chiyoda-ku)
$18.9M - Series C - Oct 2020
Construction Operations Management
Platform - Japan
08
16
Back to index
Field Force Automation (UPWARD)
(# Cos: 9 | $70.7M)
Construction (Andpad)
(# Cos: 2 | $67.9M)
Suite (Sukedachi)
(# Cos: 2 | $67.9M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$56.3M (▲753%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$67.9M
2
-
2
2
Sukedachi
(2017, Tokyo, $11.6M)
Andpad
(2016, Chiyoda-ku, $56.3M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

17. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Astroscale (2013, Sumida-ku)
$51.0M - Series E - Oct 2020
Astroscale (2013, Sumida-ku)
Undisclosed - Series E - May 2020
NewSpace > Space Services > Space
Debris > Removal - Japan
09
17
Back to index
NewSpace (ispace)
(# Cos: 16 | $521M)
Space Services (Axelspace)
(# Cos: 6 | $362M)
Removal (Astroscale)
(# Cos: 1 | $199M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$51.0M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$199M
1
-
1
1
Astroscale
(2013, Sumida-ku, $199M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

18. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Geek+ (2015, Inzai)
$50.0M - Series C - Jun 2020
Lexx Pluss (2020, Kawasaki)
Undisclosed - Seed - Mar 2021
Professional Service Robots > Logistics >
Warehouse Automation - Japan
10
18
Back to index
Professional Service Robots (ispace)
(# Cos: 35 | $635M)
Logistics (Lexx Pluss)
(# Cos: 2 | $440M)
Warehouse Automation (Geek+)
(# Cos: 2 | $440M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$50.0M (▼66.7%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$440M
2
-
2
1
Geek+
(2015, Inzai, $440M)
Lexx Pluss
(2020, Kawasaki)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

19. Copyright © 2021, Tracxn Technologies Private 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
11
19
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: 108 | $265M)
Value Based Care (Triple W Japan)
(# Cos: 20 | $93.3M)
Care Coordination (Embrace)
(# Cos: 6 | $53.7M)
Care Planning & Management (Mental
Health Technologies)
(# Cos: 4 | $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

20. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Geek+ (2015, Inzai)
$50.0M - Series C - Jun 2020
Warehouse Automation Tools - Japan
12
20
Back to index
SCM Software (ZAICO)
(# Cos: 10 | $440M)
Warehouse Management (Framework)
(# Cos: 8 | $440M)
Warehouse Automation Tools (Geek+)
(# Cos: 1 | $440M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$50.0M (▼66.7%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$440M
1
-
1
1
Geek+
(2015, Inzai, $440M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

21. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Warehouse Robotics and Automation -
Japan
13
21
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 (▼66.7%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$440M
1
-
1
1
E-Commerce Enablers (BASE)
(# Cos: 23 | $499M)
Operations Management (Hunglead)
(# Cos: 6 | $466M)
Logistics Management (Open Logi)
(# Cos: 4 | $466M)
Warehouse Robotics and
Automation (Geek+)
(# Cos: 1 | $440M)
Geek+
(2015, Inzai, $440M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Geek+ (2015, Inzai)
$50.0M - Series C - Jun 2020

22. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Professional Service Robots > Space -
Japan
14
22
Back to index
Professional Service Robots (Geek+)
(# Cos: 35 | $635M)
Space (ispace)
(# Cos: 2 | $147M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$45.1M (▲1000%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$147M
2
-
2
2
ispace
(2010, Tokyo, $125M)
GITAI
(2016, Tokyo, $22.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
ispace (2010, Tokyo)
$28.0M - Series B - Aug 2020
GITAI (2016, Tokyo)
$17.1M - Series B - Feb 2021

23. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
SkyDrive (2018, Shinjuku)
$37.0M - Series B - Aug 2020
Electric Aerial Vehicles - Japan
15
23
Back to index
Electric Vehicles (Cocoa Motors)
(# Cos: 25 | $82.1M)
Automaker (GLM)
(# Cos: 10 | $82.1M)
Aerial (SkyDrive)
(# Cos: 2 | $50.9M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$37.0M (▲166%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$50.9M
1
-
2
1
SkyDrive
(2018, Shinjuku, $50.9M)
Cartivator
(2012, Tokyo)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

24. Copyright © 2021, Tracxn Technologies Private 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
16
24
Back to index
Display Technology (Japan Display East)
(# Cos: 16 | $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 (▲7.9%)
1(▼50%)
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.

25. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Kyulux (2015, Fukuoka)
$34.3M - Series B - Feb 2021
Energy Efficiency Tech > Lighting Products >
Optical Components > OLED - Japan
17
25
Back to index
Energy Efficiency Tech (Nature global)
(# Cos: 28 | $93.8M)
Lighting Products (El-Seed Corp)
(# Cos: 7 | $84.4M)
OLED (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 (▲7.9%)
1(▼50%)
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.

26. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Photonics > Optoelectronics > Diode > Light
Emitting Diodes - 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
$34.3M (▲7.9%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$84.4M
2
-
4
1
Photonics (ThinkCyte)
(# Cos: 28 | $154M)
Optoelectronics (Fuji Electric)
(# 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

27. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Smart Locks - Japan
19
27
Back to index
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$33.0M (▲60.3%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$61.1M
3
-
5
2
Security & Surveillance Technology (VAAK)
(# Cos: 46 | $64.1M)
PIAM (NORMEE)
(# Cos: 15 | $63.7M)
Secured Entry Control (Akerun)
(# Cos: 8 | $61.1M)
Smart Lock and Key (Photosynth)
(# Cos: 5 | $61.1M)
Smart Lock (Bitkey)
(# Cos: 5 | $61.1M)
Bitkey
(2018, Chuo, $20.6M)
Photosynth
(2014, Minato, $36.8M)
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)
$33.0M - Series C - Aug 2020

28. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
ispace (2010, Tokyo)
$28.0M - Series B - Aug 2020
NewSpace > Space Hardware > Rovers -
Japan
20
28
Back to index
NewSpace (Astroscale)
(# Cos: 16 | $521M)
Space Hardware (SPACE WALKER)
(# Cos: 4 | $125M)
Rovers (ispace)
(# Cos: 1 | $125M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$28.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$125M
1
-
1
1
ispace
(2010, Tokyo, $125M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

29. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Healthcare IT > Provider > Hospital Information Systems >
Patient Portal > Pre-admissions - 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
$18.7M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$30.0M
1
-
1
1
Healthcare IT (LPixel)
(# Cos: 108 | $265M)
Provider (CureApp)
(# Cos: 84 | $172M)
Hospital Information Systems
(Information Technology Medical)
(# Cos: 20 | $40.1M)
Pre-admissions (Ubie)
(# Cos: 1 | $30.0M)
Ubie
(2015, Chuo, $30.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Ubie (2015, Chuo)
$18.7M - Series B - Jun 2020

30. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Symptom Tracking Solutions - Japan
22
30
Back to index
Disease Self Management (CureApp)
(# Cos: 42 | $69.3M)
Symptom Checkers (Ubie)
(# Cos: 2 | $30.0M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$18.7M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$30.0M
2
-
2
1
Ubie
(2015, Chuo, $30.0M)
Primesap
(2010, Tokyo)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Ubie (2015, Chuo)
$18.7M - Series B - Jun 2020

31. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Heart Failure Therapy Devices - Japan
23
31
Back to index
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$16.7M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$22.7M
1
-
1
1
Cardiac and Vascular Disorders (Daiichi Sankyo)
(# Cos: 27 | $59.2M)
Medical Devices (Omron)
(# Cos: 19 | $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
Metcela (2016, Kanagawa)
$4.0M - Series B - May 2020

32. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Shipping and Fulfillment Enablers -
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
$16.2M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$25.8M
2
-
3
1
E-Commerce Enablers (BASE)
(# Cos: 23 | $499M)
Operations Management (Hunglead)
(# Cos: 6 | $466M)
Logistics Management (Geek+)
(# Cos: 4 | $466M)
Shipping and Fulfillment Enablers
(Open Logi)
(# Cos: 3 | $25.8M)
Open Logi
(2013, Tokyo, $25.8M)
Ship & Co
(2015, Kyoto)
DigitAddress
(2014, Tokyo)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Open Logi (2013, Tokyo)
$16.2M - Series C - Oct 2020

33. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
ThinkCyte (2016, Tokyo)
$15.0M - Series A - May 2020
Biotech R&D > Research Software >
Image Analysis - Japan
25
33
Back to index
Biotech R&D (Atonarp)
(# Cos: 18 | $84.4M)
Research Software (CoLocalization Research
Software)
(# Cos: 7 | $18.3M)
Image Analysis (ThinkCyte)
(# Cos: 5 | $18.3M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$15.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$18.3M
2
-
5
1
ThinkCyte
(2016, Tokyo, $18.3M)
CoLocalization Researc.. Innotek
(1996, Minami)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

34. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
ThinkCyte (2016, Tokyo)
$15.0M - Series A - May 2020
Diagnostics (by Technology) > Devices and Instruments > Cell and Tissue
Analysis > Cell Isolation and Enrichment > Central Laboratory Systems -
Japan
26
34
Back to index
Diagnostics (by Technology) (Olympus)
(# Cos: 54 | $43.2M)
Devices and Instruments (Canon)
(# Cos: 27 | $18.3M)
Central Laboratory Systems (ThinkCyte)
(# Cos: 1 | $18.3M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$15.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$18.3M
1
-
1
1
ThinkCyte
(2016, Tokyo, $18.3M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

35. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Photonics > Biophotonics > Optical
Micromanipulation > Cell Sorting - Japan
27
35
Back to index
Photonics (Kyulux)
(# Cos: 28 | $154M)
Cell Sorting (ThinkCyte)
(# Cos: 1 | $18.3M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$15.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$18.3M
1
-
1
1
ThinkCyte
(2016, Tokyo, $18.3M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
ThinkCyte (2016, Tokyo)
$15.0M - Series A - May 2020

36. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Diversified Diagnostics > Tests - Japan
28
36
Back to index
Diversified Diagnostics (Olympus)
(# Cos: 31 | $27.8M)
Tests (Canon)
(# Cos: 31 | $27.8M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$15.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$27.8M
12
6
31
1
Canon
(1937, Tokyo)
Olympus
(1919, Tokyo)
Sysmex
(1968, Kobe)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
ThinkCyte (2016, Tokyo)
$15.0M - Series A - May 2020

37. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Terra Drone Corp (2017, Shibuya)
$14.2M - Series A - Feb 2021
Aerial Imagery - Japan
29
37
Back to index
Geographic Information Systems (YAMAP)
(# Cos: 27 | $357M)
Imaging Solutions (Axelspace)
(# Cos: 4 | $154M)
Aerial Imagery (Terra Drone Corp)
(# Cos: 1 | $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
-
1
1
Terra Drone Corp
(2017, Shibuya, $14.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

38. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Bulk Homm (2012, Minato)
$14.1M - Series B - Sep 2020
Beauty Tech > Ecommerce > Men's Grooming > Multi-
Category > Organic > Internet First Brand - Japan
30
38
Back to index
Beauty Tech (Coubic)
(# Cos: 43 | $36.9M)
Ecommerce (cosme)
(# Cos: 19 | $21.2M)
Internet First Brand (Bulk Homm)
(# Cos: 1 | $21.2M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$14.1M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$21.2M
1
-
1
1
Bulk Homm
(2012, Minato, $21.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

39. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Internet First Natural Beauty and Personal Care
Brands - 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
$14.1M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$21.2M
2
-
2
1
Beauty & Personal Care Products (FANCL)
(# Cos: 108 | $1.2B)
Multi Category (Kao Corporation)
(# Cos: 35 | $1.2B)
Natural (Matof KYOTO)
(# Cos: 5 | $21.2M)
Internet First Brand (Bulk Homm)
(# Cos: 2 | $21.2M)
Bulk Homm
(2012, Minato, $21.2M)
CEFINE
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Bulk Homm (2012, Minato)
$14.1M - Series B - Sep 2020

40. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Embedded Systems > Embedded Hardware >
Memory > Non-Volatile - Japan
32
40
Back to index
Embedded Systems (Eflow)
(# Cos: 4 | $25.6M)
Non-Volatile (Floadia)
(# Cos: 1 | $25.6M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$11.5M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$25.6M
1
-
1
1
Floadia
(2011, Kodaira, $25.6M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Floadia (2011, Kodaira)
$11.5M - Series C - Oct 2020

41. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Drug Delivery > Diversified - Japan
33
41
Back to index
Drug Delivery (Santen Pharmaceuticals)
(# Cos: 8 | $15.6M)
Diversified (MEDRx)
(# Cos: 3 | $9.8M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$9.8M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$9.8M
3
1
3
0
MEDRx
(2002, Kagawa)
LUCA Science
(2018, Chuo, $9.8M)
Mebiopharm
(2002, Minato)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
LUCA Science (2018, Chuo)
$9.8M - Series A - Sep 2020

42. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Home Improvements > Community
Platforms - Japan
34
42
Back to index
Home Improvements (DCM Holdings)
(# Cos: 20 | $19.1M)
Community Platforms (RoomClip)
(# Cos: 1 | $17.7M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$9.4M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$17.7M
1
-
1
1
RoomClip
(2011, Tokyo, $17.7M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
RoomClip (2011, Tokyo)
$9.4M - Series D - Sep 2020

43. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Psychic VR Lab (2007, Tokyo)
$8.5M - Series A - Feb 2021
Virtual Reality > Applications > Retail > Enablers
> Fashion - Japan
35
43
Back to index
Virtual Reality (Xenoma)
(# Cos: 58 | $50.9M)
Applications (Tyffon)
(# Cos: 25 | $36.2M)
Fashion (Psychic VR Lab)
(# Cos: 1 | $18.0M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$8.5M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$18.0M
1
-
1
1
Psychic VR Lab
(2007, Tokyo, $18.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

44. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
PC & Console Core VR Game Developers
- 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
$8.5M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$8.5M
1
-
1
1
PC & Console Gaming (Bandai Namco Entertainment)
(# Cos: 74 | $24.5M)
Game Developers (GungHo Online Entertainment)
(# Cos: 66 | $24.5M)
PC & Console Games (Mynet)
(# Cos: 57 | $20.3M)
Core Games (SQUARE ENIX)
(# Cos: 30 | $14.7M)
VR Games (Thirdverse)
(# Cos: 1 | $8.5M)
Thirdverse
(2020, Shinjuku, $8.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Thirdverse (2020, Shinjuku)
$8.5M - Series A - Oct 2020

45. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Adgo (2014, Tokyo)
$7.6M - Series A - May 2020
Adgo (2014, Tokyo)
$550K - Series A - Dec 2020
Social Media - Japan
37
45
Back to index
AdTech (Adways)
(# Cos: 67 | $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
$8.2M ( -- )
2( -- )
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.

46. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Zehitomo (2015, Tokyo)
$7.5M - Series B - Jun 2020
Lead Generation Platforms for Local
Businesses - Japan
38
46
Back to index
Local Services (Raksul)
(# Cos: 47 | $138M)
Multi Services (Taskaji)
(# Cos: 5 | $12.5M)
Lead Generation (Zehitomo)
(# Cos: 1 | $12.5M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$7.5M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$12.5M
1
-
1
1
Zehitomo
(2015, Tokyo, $12.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

47. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Integriculture (2015, Tokyo)
$7.4M - Series A - May 2020
Food Tech > Novel Foods > Food Products > Alternative
Proteins > Meat Substitute > Lab Grown - Japan
39
47
Back to index
Food Tech (Toreta)
(# Cos: 89 | $252M)
Meat Substitute (Shojinmeat)
(# Cos: 2 | $10.2M)
Lab Grown (Integriculture)
(# Cos: 2 | $10.2M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$7.4M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$10.2M
1
-
2
1
Integriculture
(2015, Tokyo, $10.2M)
Shojinmeat
(2015, Tokyo)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

48. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Connected Vehicles > Connectivity Solutions >
Middleware Solutions - Japan
40
48
Back to index
Connected Vehicles (SmartDrive)
(# Cos: 16 | $16.3M)
Middleware Solutions (aptpod)
(# Cos: 1 | $7.3M)
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
-
$7.3M
1
-
1
1
aptpod
(2006, Shinjuku, $7.3M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
aptpod (2006, Shinjuku)
$7.3M - Series C - Mar 2021

49. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
RevComm (2017, Tokyo)
$6.6M - Series A - Oct 2020
Call Analytics - Japan
41
49
Back to index
Sales Force Automation (Sansan)
(# Cos: 37 | $140M)
Sales Analytics (Nowcast)
(# Cos: 2 | $14.2M)
Conversation Intelligence (RevComm)
(# Cos: 1 | $14.2M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$6.6M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$14.2M
1
-
1
0
RevComm
(2017, Tokyo, $14.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

50. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Genomics > Enabling Technologies > Instrument Systems >
Single Cell Genomics - 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
$6.6M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$9.9M
1
-
2
1
Genomics (Modalis Therapeutics)
(# Cos: 82 | $466M)
Enabling Technologies (Ribomic)
(# Cos: 27 | $74.0M)
Instrument Systems (Quantum
Biosystems)
(# Cos: 8 | $45.0M)
Single Cell Genomics (bitBiome)
(# Cos: 2 | $9.9M)
bitBiome
(2018, Shinjuku, $9.9M)
Elplasia
(2013, Tokyo)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
bitBiome (2018, Shinjuku)
$6.6M - Series B - Sep 2020

51. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Gamer Community - Japan
43
51
Back to index
Gaming Tech (GameWith)
(# Cos: 25 | $18.2M)
Gamers Community (PlayBrain)
(# Cos: 4 | $12.0M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$6.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$12.0M
3
1
4
1
PlayBrain
(2016, Shibuya, $8.0M)
GameWith
(2013, Minato, $4.0M)
Game Koryaku Kanzen Zu..
(2014, Fukuoka)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
PlayBrain (2016, Shibuya)
$6.0M - Series A - Jun 2020

52. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Bionic Prosthetics - Japan
44
52
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Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$5.2M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$25.3M
2
-
2
2
Consumer Robotics (Softbank Robotics)
(# Cos: 49 | $302M)
Healthcare (Genics)
(# Cos: 5 | $25.3M)
Robotic Assistance (BionicM)
(# Cos: 3 | $25.3M)
Prosthetics (MELTIN MMI)
(# Cos: 2 | $25.3M)
MELTIN MMI
(2013, Tokyo, $20.1M)
BionicM
(2016, Tokyo, $5.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
BionicM (2016, Tokyo)
$5.2M - Series A - Sep 2020

53. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Assistive Tech > Assistive Hardware > Mobility >
Prostheses - Japan
45
53
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Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$5.2M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$25.3M
3
-
3
2
Assistive Tech (Reif)
(# Cos: 10 | $25.3M)
Assistive Hardware (Starkey)
(# Cos: 7 | $25.3M)
Mobility (BionicM)
(# Cos: 3 | $25.3M)
Prostheses (MELTIN MMI)
(# Cos: 3 | $25.3M)
MELTIN MMI
(2013, Tokyo, $20.1M)
BionicM
(2016, Tokyo, $5.2M)
Reif
(2008, Kitakyushu)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
BionicM (2016, Tokyo)
$5.2M - Series A - Sep 2020

54. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Knowledge Management Platforms for
Customer Support - Japan
46
54
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Customer Service Software (Cinnamon)
(# Cos: 24 | $33.0M)
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

55. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Knowledge Management - Japan
47
55
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Enterprise Collaboration (Talknote)
(# Cos: 46 | $26.8M)
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

56. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Automatic Speech Recognition Software
- Japan
48
56
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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: 11 | $37.7M)
Technology Providers (Hmcomm)
(# Cos: 4 | $7.9M)
Software (Fairy Devices)
(# Cos: 4 | $7.9M)
Automatic Speech Recognition
(Studio Ousia)
(# Cos: 4 | $7.9M)
Studio Ousia
(2007, Chiyoda-ku, $3.2M)
Fairy Devices
(2008, Tokyo, $4.7M)
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

57. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
WARPSPACE (2016, Tsukuba)
$3.0M - Series A - Aug 2020
Satellite Communication Services -
Japan
49
57
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NewSpace (ispace)
(# Cos: 16 | $521M)
Space Services (Astroscale)
(# Cos: 6 | $362M)
Communication (WARPSPACE)
(# Cos: 2 | $3.0M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$3.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$3.0M
1
-
2
0
WARPSPACE
(2016, Tsukuba, $3.0M)
JSAT
(1994, Tokyo)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

58. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Japan Tech - Top Business Models Report
Recent Funding Rounds
Saki corporation (1994, Tokyo)
$2.9M - Seed - Dec 2020
Electronic Design Automation Tools > Verification Tools >
Physical Verification - Japan
50
58
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Electronic Design Automation Tools (NanoBridge
Semiconductor)
(# Cos: 14 | $36.1M)
Verification Tools (VTech)
(# Cos: 2 | $2.9M)
Physical Verification (Saki corporation)
(# Cos: 2 | $2.9M)
Taxonomy
$ Invested in last 1 year in Japan Tech
Key Stats
# Funding Rounds in last 1 year in
Japan Tech
$2.9M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$2.9M
2
-
2
1
Saki corporation
(1994, Tokyo, $2.9M)
VTech
(2003, Yokohama)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

59. Japan Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
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Japan Tech - Top Business Models Report
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