Itochu Technology Ventures, the corporate venturing unit of Japan industrial group Itochu, Anri Fund, an early stage independent venture capital investment firm based in Japan, and Japan seed and early stage investor Incubate Fund, have invested Yen152m ($1.5m) in Japan-based open online course company Schoo. Anri Fund and Incubate Fund are returning investors having already backed the company in an undisclosed seed round in 2012.
The start-up is focused on its domestic market where it aims to surpass one million users by the end of the year, according to news reports by technology and venture news site thenextweb.com. The latest round of funding will help its marketing activities as well as extend its platform to deliver courses for schools, educational centres and businesses. in the country.
The company was founded in January 2012 and it currently has more than 40,000 registered users that have access to over 130 different online courses.
Unlike US-based Coursera and other student-focused services with a global remit, Schoo is dedicated solely on Japan. To date it has proven popular among office workers in their late-20s/early-30s, but it is aiming to broaden its appeal and reach, reported thenextweb.com.