Finc Technologies, a Japan-based preventive healthcare technology producer that counts a variety of corporates among its existing investors, received ¥5bn ($46.1m) in funding from undisclosed investors on Monday.
Founded in 2012, Finc has developed an artificial intelligence-equipped health and wellness app that allows users to log and manage their lifestyle choices including diet, sleep and exercise habits. The collected data can then be analysed to offer personalised healthcare support.
The company said the round increased its total funding to more than $138m. The capital will be used to expand its businesses and strengthen its marketing capabilities.
Finc secured an undisclosed amount of series C funding from IT equipment producer NEC Corporation, real estate developer Mitsubishi Estate and Mitsubishi UFJ Capital, a venture capital vehicle for financial services firm Mitsubishi UFJ Financial Group, in 2017.
NEC also backed a $48.9m round for Finc in September 2018 that included insurers Dai-ichi Life and Sompo Holdings, medical goods provider Rohto Pharmaceutical, electric utility Chubu Electric Power, confectionery producer Ezaki Glico, radio broadcaster J-Wave, publisher Kodansha and skincare brand Shiseido.
Consulting firm Artra, engineering and construction firm Takenaka Corporation and textile manufacturer Teijin Frontier also took part in the round, as did Intage Open Innovation Fund, which is co-run by marketing research firm Intage and financial services provider SBI Group, along with another SBI subsidiary, SBI FinTech Business Innovation Fund.
The 2018 investors were filled out by Hiroshima Venture Capital, Yokohama Capital and Mizuho Securities Principal Investment, investment vehicles for financial services firms Hiroshima Bank and Bank of Yokohama and investment bank Mizuho Securities respectively.
