INCJ invests $9 million in animation tool developer New
The Innovation Network Corporation of Japan (INCJ) has invested JPY900 million ($8.7 million) in New, a start-up that develops tools for creating motion comics.
Set up by Nobuyuki Muto in 2012, Tokyo-based New develops online animation tools used for the commercial production of motion comics - a form of comic that combines elements of printed comic books and animation.
Individual panels are expanded into a full shot while sound effects, voice acting, and animation are added to the original artwork. The aim of the production platform is to reduce the cuts typically associated with creating a motion comic.
According to a release, the extra funds will be used to facilitate the company's expansion overseas.
This is INCJ's second early-stage investment this month. Last week it acquired a 20% stake in Squse - a Kyoto-based company that makes robotic hands - for JPY500 million ($4.9 million).
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