Abeja, a Japan-based retail analytics technology developer backed by mobile network NTT Docomo and IT services provider Sakura Internet, has increased the size of its series B round to $7m, The Bridge reported on Monday.
The company raised $5m last month from the Japanese state-backed Innovation Network Corporation of Japan and Archetype Ventures, the venture capital branch of startup network operator Archetype.
The additional cash was invested by Inspire PNB Partners, a joint venture between investment firm Inspire and Malaysian state-owned fund manager Permodalan Nasional Berhad.
Abeja provides retailers with visual analytics technology that enables them to better structure their stores in order to improve in-store traffic and customer retention. The series B round will provide the basis for growth in Southeast Asia.
Abeja had previously received an undisclosed amount from NTT Docomo’s corporate venturing unit, NTT Docomo Ventures, in 2014, before Sakura Internet, Inspire, Mitsubishi UFJ Capital and Mizuho Capital invested a six-figure dollar sum later the same year.