Japan-based printing and flyering service provider Raksul has raised $33.7m in a series C round supported by a host of corporates, Tech in Asia reported today.
The corporate investors were marketing firms Opt and Dentsu, which participated through its Dentsu Digital Holdings subsidiary, consultancy firm Link and Motivation, Gree Ventures, which acts as the corporate venturing arm of digital media company Gree, and Itochu Technology Ventures, which does the same for conglomerate Itochu.
Global Brain, World Innovation Lab, Anri, GMO Venture Partners and Global Catalyst Partners also took part in the round.
Raksul provides online printing services, using a range of third-party printing facilities. It serves a market that is shrinking due to digitisation but which is still worth more than $50bn according to CEO Yasukane Matsumoto.
The capital expanded Raksul’s total funding to more than $54m and follows a $14.3m series B round in February 2014 backed by Itochu Technology Ventures, Global Brain, GMO, office stationery supplier Plus and social network Mixi.
YJ Capital, the corporate venturing subsidiary of internet services company Yahoo Japan, Anri and Nissay Capital provided funding for Raksul at series A stage and earlier.
Raksul plans to now expand to neighbouring countries in Northeast Asia, with Taiwan cited as a market likely to hold particular potential.