Japan-based smart lock technology developer Photosynth secured ¥1.75bn ($15.8m) from a range of corporate investors on Wednesday.
NTT Docomo Ventures, JR East Start Up, 31Ventures and NN Corporate Capital participated in the round on behalf of mobile network NTT Docomo, rail operator JR East and property developers Mitsui Fudosan and Nomura Real Estate respectively.
Stationery and furniture vendor Kokuyo filled out the round together with investment and financial services group Fidelity International and SBI Investment, a subsidiary of financial services provider SBI. The company has raised approximately $63.3m since it was founded in 2014.
Photosynth provides internet-of-things products including Akerun Access Intelligence, a software platform which enables users to unlock doors with a mobile app. It had received $33m in an August 2020 round led by Norinchukin Bank that included 31Ventures and NTT Docomo Ventures.
Consulting firm Business Strategic Partners, printing services group Toppan, education services provider Globis, messaging app Line and financial services firm Mebuki Financial Group also took part, the last three through Globis Capital Partners, Line Ventures (now part of Z Venture Capital) and Joyo Industrial Research respectively.
Scrum Ventures was also among the investors in the August round, which included debt financing from Shinsei Bank, Japan Finance Corporation, Mizuho Bank and Joyo Bank.
Globis Capital Partners had already participated in a $9.1m round for the company in 2018, investing together with internet company Yahoo Japan’s YJ Capital subsidiary (now also under the Z Venture Capital umbrella) and Daiwa Corporate Investment.
Japan Finance Corporation and Orix supplied debt financing as part of the 2018 round, which came after Photosynth had closed a $3.7m round in 2015 featuring YJ Capital, Beta Catalyst, Gaiax and Jafco.
