VCs back $12m Series B for Japan's Optical Comb
Innovation Network Corporation of Japan (INCJ) has joined a group of VCs in a JPY1.3 billion ($12 million) Series B round for Optical Comb, a Tokyo-based auto industry supplier that uses advanced 3D scanning technology.
Other participants included Nissay Capital, Mitsui Sumitomo Insurance Venture Capital, Hiroshima Venture Capital, Chibagin Capital, Iyo Bank Capital, Innovations & Future Creation, and Yamanashi Chugin Management Consulting. The INCJ contribution will amount to up to JPY400 million.
Founded in 2002 within the Tokyo Institute of Technology, Optical Comb describes itself as the developer of the first inline non-contact 3D profilometer using the optical comb technique in an industrial setting. The company uses vibration monitoring devices and equipment based on a unique laser – known scientifically as an optical frequency comb – to find defects in automotive components.
The technology is said to contribute to the production of next-generation car engines by accelerating measurement processes and enabling high-precision automated visual inspections. According to a release, Optical Comb will use its latest funding to develop related software and create a new business model that integrates its existing technology with cloud services and artificial intelligence.
Venture interest in advancing the technical aspects of automotive production processes is based on the view that the capital intensity of tooling and factory work is the main barrier to entry and innovation in the auto industry. Previous investment under this thesis includes a $107 million Series B for Divergent 3D, a US-based company bringing 3D printing technology to Asian car manufacturers.
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