Skydisc, a Japan-based developer of sensors and cloud technology, has secured ¥740m ($6.5m) in a series A round featuring insurance firm Nippon Life and electronics distributor Kaga Electronics, The Bridge has reported.
The round also included contributions from Yamaguchi Capital, the investment arm of financial services company Yagamuchi Financial Group, as well as DG Daiwa Ventures, the joint venture formed by internet company Digital Garage and investment bank Daiwa Securities.
Venture capital firm Archetype Ventures, VC fund Energy and Environment Investment, and Dogan Beta, part of financial services provider Dogan, filled out the round’s investors. Nippon Life participated through its corporate venturing arm Nissay Capital.
Founded in 2013, Skydisc has developed detachable sensors that connect to a cloud platform which can analyse the data they collect. The sensors can detect and measure environmental factors such as temperature, humidity and carbon dioxide concentration.
The technology can be used for a variety of functions, from detecting safety faults in a factory setting to crop optimisation in agriculture. The funding will be used to recruit more engineers with artificial intelligence expertise, and to expand Skydisc’s business development team.
Skydisc had previously raised $850,000 in a January 2016 seed round backed by Nissay Capital, Archetype Ventures and Dogan.