Japan-based artificial intelligence product developer Cogent Labs has received ¥1.4bn ($13m) in a series C round that included IT services firm Comture Corporation, Tech in Asia reported yesterday.
Aizawa-4 Limited Partnership, I Holdings and Japan Co-Invest II Limited Partnership also participated in the round, which boosted Cogent’s overall funding to about $39m according to Tech in Asia.
Cogent’s AI offering includes character recognition tool Tegaki, financial market data processor TSF and natural language processing (NLP) platform Kaidoku. It will channel the series C proceeds into improving its NLP technology and expanding further into Asia.
The company closed a $10.9m series B round featuring Samsung Venture Investment, part of consumer electronics producer Samsung, as well as Kiwoom Investment, K2 Investment Partners and NCore Ventures in May 2019.
The series B came after Toppan Forms, a subsidiary of printing services provider Toppan, co-led an $11.6m series A round for Cogent in 2017 with SBI Investment, a venture capital vehicle for financial services provider SBI.
