Japan-based cybersecurity services provider Cocon has raised ¥2.8bn ($24.6m) in funding from investors including vehicles for internet company Yahoo Japan and diversified conglomerate Sumitomo, TechCrunch Japan has reported.
The corporates invested through subsidiaries YJ Capital and Sumitomo Electric Industries, and the round took Cocon’s total funding to about $36m altogether.
Founded in 2013 as internet company Panda Graphics, Cocon has since pivoted to focus on security diagnostic services. It will put the funding toward developing products for areas such as connected vehicles, power and control systems and infrastructure assets.
Digital marketing firm Opt and venture capital firm East Ventures provided almost $1.4m of funding for Cocon in 2014, and its other early investors include SIG Asia Investments, a subsidiary of trading and technology firm Susquehanna International Group, and MS Capital.
SBI Investment, part of financial services provider SBI, supplied $4.45m in funding for the company in February 2017.
