INCJ picks up stake in robotic hand maker

Set up in 1997, Squse has designed and built a robotic hand which can make human-like movements, picking up and moving fragile objects like food that weigh as much as 1 kilogram. The company also makes robotic devices that can move items around warehouses and production lines which have robotic hands preinstalled.

In addtion to providing capital, INCJ will also support the company's growth by offering outside industry expertise, the fund said in a release.

According to Bloomberg, Squse - which until now has been selling its products in Japan - is looking to export its products to Asia, Europe and the US over the next five years. The firm is also understood to be eyeing a Japan IPO within the next two years.

INCJ is a public-private partnership launched in 2009 with the remit of promoting business innovation in the Japan. The fund has JPY280 billion of capital with the Japanese government injecting JPY266 billion and the rest coming from a consortium of 26 private corporations.

The government also guarantees up to JPY1.8 trillion of additional capital giving INCJ a total investment capability of around JPY2 trillion.

According to AVCJ Research this is INCJ's third VC investment this year. In January, the fund invested JPY500 million in Reinverse, an industrial waste recycling company, while earlier this month it invested in $9 million in drugs developer NapaJen Pharma. Last year it made a total of 17 VC investments.

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