Japan hiking app provider Yamap raises $1.5m
Japan-based Hiking app provider Yamap has raised JPY170 million ($1.5 million) in a Series A funding round led by mobile gaming services company Colopl.
The round also included Daiwa Corporate Investment and VC firm Dogan. The capital raised is expected to be used to improve the company's core hiking app services as rollouts continue for other products including an insurance offering for hikers and a price comparison service for hiking equipment.
According to Tech in Asia, Yampa founder and CEO Yoshi Haruyama also wants to expand into the US, where the outdoor sports industry is said to be three times the size of that of Japan. In its home market alone, Yamap is estimated to have been downloaded more than 260,000 times and have more than 160,000 active users.
Daiwa firm invests largely in IT-related and life science companies with an aim to revitalize industries by focusing on management. Last year, it participated in a $4.2 million funding round for laser manufacturer Spetronix.
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