Japan-based internet-of-things (IoT) platform developer Idein raised ¥2bn ($19.2m) yesterday from investors including corporates Aisin Group, KDDI, Sojitz, CTC Global and Digital Garage.
Automotive component maker Aisin, conglomerate Sojitz and IT services firm CTC invested directly while internet company Digital Garage took part through its DG Ventures and DG Daiwa Ventures units and telecommunications firm KDDI participated through its KDDI Open Innovation Fund III.
Financial services firm Bank of Iwate’s Iwagin Jigyo Souzou Capital subsidiary filled out the round, which pushed the company’s overall funding to about $30m.
Founded in 2015, Idein runs an edge artificial intelligence platform dubbed Actcast, which targets IoT software developers and consumers. The cash will be used to expand Actcast and its associated scheme, Actcast Partner Program, which counts 71 companies as participants.
Hakuodo DY Ventures, Sony Innovation Fund by IGV and Sony Financial Ventures – respective units of marketing firm Hakuhodo DY and electronics product manufacturer Sony – joined DG Daiwa Ventures in a $7.8m round for the company that was led by Global Brain in August 2019.
Aisin had provided an undisclosed sum for Idein in February 2018 that followed $1.6m in funding from DG Daiwa Ventures and Global Brain seven months earlier.
