INCJ joins $4.3m round for Japan AI player

The capital will be applied to R&D, marketing and other growth initiatives. It will also support the introduction of AI and internet-of-things technologies into industries that address labor shortages and community sustainability challenges, especially in Japan’s southern Kochi region.

“I am inspired by their business model, which aims to promote AI as a new industry in Kochi,” Katsuhiko Morishita, president of Bank of Kochi, said in a statement. “I have high expectations that implementing services and products for collaboration between people and AI will create new employment and lead to regional economic revitalization in Kochi, which is facing social issues such as population decline.”

Founded in 2012, Nextremer focuses on AI dialogue systems that facilitate communication between people and computers through natural language processing technology. Target use-cases include customer services and reception desks, as well as business needs within the automobile and robotics sectors. The company claims to have already begun deploying AI dialogue systems for community-related applications in Kochi.

Natural language processing is a field of AI programing that combines machine learning with character and voice recognition technologies to improve human-machine interactions. It is expected to attract increased investment interest as business and lifestyle automation trends develop.

INCJ is a state-backed investor with a remit to provide financial, technical and management support for the creation of Japanese businesses. It has capacity to invest up to JPY2 trillion ($18.2 billion).

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• Topics
• North Asia
• Technology
• Early-stage
• Japan
• Innovation Network Corp. of Japan (INCJ)
• Venture