AVCJ

Jafco backs Japan blockchain-IoT start-up

  • LinkedIn  
  • Google plus  
  • Save this article  

Nayuta, a Japanese start-up focused on combining internet-of-things (IoT) and blockchain technologies, has received a JPY140 million ($1.3 million) funding round led by Jafco.

The company said in a statement that it intends to use the capital for technology development work that targets shared economy segments and blockchain-enabled smart city applications. Projects currently under development include a people tracking sensor system with a graphic user interface known as Hawker.

According to The Bridge, Nayuta will also use the new capital to set up an independent office; the company has operated out of various co-working spaces since 2015. Nayuta is also said to be in talks with a potential corporate partner and considering hiring additional staff.

Blockchain is being increasingly integrated into business models outside of the virtual currency sector. Recent activity in Japan includes a $9 million investment in Tech Bureau, a blockchain specialist that helps companies raise capital by coordinating token sales.

Jafco manages 37 funds and claims some JPY433 billion in committed capital. Last year, the firm reached a first close of JPY41 billion on its fifth global VC and buyout fund.

  • LinkedIn  
  • Google plus  
  • Save this article  

More on North Asia

Latest News

world-hands-globe-climate-esg
Asian GPs slow implementation of ESG policies - survey

Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...

  • GPs