Japan-based air mobility and blockchain technology developer ALI Technologies received ¥2.31bn ($21.1m) yesterday from investors including a string of corporate backers.
Engineering consulting firm Japan Asia Group, IT services provider Kyocera, thermal power producer Mitsubishi Hitachi Power Systems, engineer recruitment service Trust Tech and electronics manufacturer Mitsubishi Electric invested in the company directly, with Sapphire Capital and TechAccel.
Rail operator JR West, insurer Mitsui Sumitomo Insurance, digital marketing agency Opt and natural gas producer Saibu Gas took part through their JR West Innovations, Mitsui Sumitomo Insurance Venture Capital, Opt Ventures and SG Incubate units respectively.
Financial services firms Bank of Fukuoka, Chiba Bank, Shinsei Bank and Yamanashi Chuo Bank also invested, through subsidiaries FFG Venture Business Partners, Chibagin Capital, Shinsei Corporate Investment and Yamanashi Chugin Management Consulting.
Founded in 2016 as Aerial Lab Industries, ALI is developing artificial intelligence-equipped unmanned aerial vehicles in addition to a blockchain technology-based luggage management platform and an autonomous distributed system intended to facilitate shared computing.
The funding will be used to commercialise the airborne motorcycles – or hoverbikes – being built by the company under the XTurismo brand, and to advance its industrial drone technologies.
Capital will also go toward developing a drone pilot service and a cloud-based computing power-sharing platform called Bullet Render Farm.
ALI had raised cash from footballer Keisuke Honda’s investment vehicle, KSK Angel Fund, in March 2018 before adding a similarly undisclosed amount from rail operator Meitetsu, aviation services provider Nakanihon Air Service, entertainment producer Sega Sammy, Drone Fund and Ibis Capital Partners two months later.
