Japan-based machine automation technology developer DeepX has raised ¥1.6bn ($15.1m) from investors including construction firm Fujita Corporation, professional services provider Industrial Growth Platform and financial services group SBI.
Asset manager Sparx Group’s Mirai Creation Fund II filled out the round, and SBI participated through its SBI Investment subsidiary.
Spun out of University of Tokyo’s Matsuo Lab in 2016, DeepX leverages artificial intelligence (AI) and machine control technologies to automate and mechanise machinery at production plants. It has worked on projects including hydraulic excavators and pasta production.
The company intends to help tackle labour shortages and manufacturing slowdown in Japan’s agriculture, construction, food processing and logistics sectors.
The funding will help ramp up engineering and computational assets in a bid to further commercialise DeepX’s automation of construction equipment, factory labour and other automation modules. It had been included in graphics processing technology producer Nvidia’s AI and deep learning-focused Inception Program in 2017.
