JIC Venture Growth Investments, a vehicle for the government-sponsored Japan Investment Corporation, has invested ¥2bn ($19.2m) in Uhuru, a Japan-based internet-of-things (IoT) platform developer backed by multiple corporates.
Founded in 2006, Uhuru has developed an IoT-focused digital transformation and data analytics tool dubbed Enebular. It also conducts research and development work covering IoT and blockchain technology.
The company had most recently received an undisclosed amount from electronics component maker Mikasa Shoji in June 2020, two months after a round of undisclosed size featuring industrial manufacturer Toyoda Gosei.
Enterprise software producer Salesforce provided a similarly undisclosed amount for Uhuru in January this year, six months after Reuters reported that it intended to raise $50m in an initial public offering on London’s AIM market.
Salesforce subsidiary Salesforce Ventures had already participated in a $4.5m round for the company in 2018, investing with telecommunications and internet group SoftBank and IT services firm NEC Corporation.
Salesforce Ventures joined conglomerate Mitsui in backing a $4.4m round for Uhuru in 2015, four years after the unit had invested an undisclosed amount in the company. Its other shareholders include sparking plug manufacturer NGK and marketing agency Dentsu.
