50M, the accelerator run by Japan-based insurer Nippon Life’s investment unit, Nissay Capital, has revealed the seven startups that will make up its third cohort.
The selection includes D-Box, the operator of a photography equipment rental store, as well as electric vehicle, drone and micromobility services provider Mobi Stop and Noiab, which runs an e-commerce platform focusing on musical instruments.
Political news aggregator Poteto, coffee bean producer Shironel, artificial intelligence and internet-of-things system developer Susq and Todoke-R, the owner of a centralised logistics management platform, filled out the roster.
The startups will each have the possibility of receiving up to ¥50m ($470,000) of seed funding. An initial ¥5m investment will be provided at the beginning of the scheme while the remaining amount will be determined after the demo day, which will take place in March 2021.
Nissay Capital will support series A fundraising activities by the participants that could potentially reach ¥3bn per company. It has already supplied a total of about $44m for the 24 graduates from the first and second cohorts.
