Japan-based medical communication equipment provider Allm raised ¥5.6bn ($50m) in series A funding on Monday from multiple corporate investors.
The round included healthcare provider Capital Medica, robotics technology developer Cyberdyne, pharmaceutical firm Eisai, insurance digitalisation service Financial Agency and conglomerate Mitsui & Co, as well as internet company Mixi, system integrator Nippon Information Development (NID), electronics and healthcare group Philips and insurer Sompo Holdings.
Marketing firms Vector and Opt also invested, the latter through its Bonds Investment Group (BIG) subsidiary, as did Mizuho Capital and SBI Investment, representing financial services firms Mizuho Bank and SBI Holdings respectively. Consulting and investment firm Asia Africa Investment and Consulting filled out the investors.
Formerly known as Skillup Japan, Allm has built cloud-based information and communication technology (ICT) software catering to the medical and care industry. It will use the funding to expand its business in Japan and other countries.
BIG predecessor Opt Ventures and Philips had contributed to a $14.2m round for the company in 2018. It followed $1.4m in funding in 2008 from internet company CyberAgent, marketing group Hakuhodo DY Media Partners, internet service provider Internet Initiative Japan and broadcasters Nippon Television Network Corporation (Forecast Communications), Fuji TV and Nippon TV (Joax-DTV).
