Corporate-backed investment partnership Mirai Creation Investment led a ¥2.1bn ($18.8m) financing round for Japan-based unmanned aerial vehicle developer Autonomous Control Systems Laboratory (ACSL) on Tuesday.
Mirai, which was formed by carmaker Toyota, financial services firm Sumitomo Mitsui Banking Corporation and asset manager Sparx, was joined by Mizuho Capital, a subsidiary of bank Mizuho Financial Group, as well as iGlobe Partners, Chiba Drone Investment and University of Tokyo Edge Capital.
Founded in 2013 and based at Chiba University, ACSL is working on drones that will be utilised by business and government users for industrial and commercial purposes.
The company, which has secured more than 40 domestic customers despite its offering being in the proof-of-concept stage, will invest the funding in expanding internationally and strengthening its technology, especially in the field of edge computing.
E-commerce firm Rakuten and University of Tokyo Edge Capital co-led ACSL’s 2016 series A round, which it revealed in a statement this week was sized at approximately $6.3m (at contemporary exchange rates).
– Photo courtesy of Autonomous Control Systems Laboratory.