Japanese AI edge developer secures Series B funding

Sparx Group and Dai-ichi Life Insurance have together contributed JPY400 million, adding to an initial commitment of JPY300 million from Mitsui Sumitomo Insurance Venture Capital, which was announced last November. Sparx is participating through its Mirai Creation Fund II, a JPY13.5 billion fund established in 2018 with Toyota Motor Corporation and Sumitomo Mitsui Banking Corporation.

AISing, which previously raised JPY200 million in Series A funding three years ago, was founded in 2016 at Iwate University. Its key asset is Deep Binary Tree (DBT), an AI algorithm that enables autonomous sequential learning and prediction in real time. Whereas conventional AI relies on cloud-based servers to communicate instructions to devices, edge AI technology is embedded in devices, reducing the possibility of delays.

Since raising the first part of the Series B, AISing has focused on developing technical systems for one-stop implementation of its solutions. It will use the additional capital for improvements to technology and human resources, as well as commercializing new edge AI algorithms. Other initiatives include promoting the business overseas.

“As labor shortages due to aging and declining populations become more acute, automation and efficiency in the manufacturing industry are indispensable for sustainable economic growth in Japan. We hope that AISing can grow into a company that supports Japanese industry,” Dai-ichi Life said in a statement.

Sparx has JPY1.16 trillion in assets under management across public equities, real assets, and private equity. Of this, JPY111.3 billion is under the Mirae Creation strategy, which involves backing unlisted domestic and overseas technology start-ups in areas such as AI and robotics. Portfolio companies include cloud-based business card digitization business Sansan, which listed last year, and Singapore marketing technology player AnyMind.

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• Topics
• North Asia
• Technology
• Industrials
• Early-stage
• Japan
• manufacturing