Taiwan-headquartered big data technology producer Vpon completed a ¥4.2bn ($39.5m) series C round yesterday featuring e-commerce firm Beenos that consisted of primary and secondary share purchases.
Public-private partnership Cool Japan Fund led the round, which included STIC Investments and Triplabs, a venture capital fund formed by travel agencies CTEH and WWPKG.
Founded in 2008, Vpon has developed a mobile-focused software tool that provides data on inbound travellers across more than 750 cities in Asia including Bangkok, Beijing, Hong Kong, Osaka, Shanghai, Taipei and Tokyo, to help businesses market to them more effectively.
The company has more than 1,500 customers including American Express, Citibank, Coca-Cola, Japan National Tourism Organization, JR East, JR West, McDonald’s and Osaka Convention and Tourism Bureau.
Vpon had previously raised $10m in series B funding from undisclosed investors in 2014, three years after a $7m series A round that included growth equity firm Shanghai Trustbridge Partners Management, according to Business Next.
Victor Wu, founder and CEO of Vpon, said: “With this funding, Vpon will further expand its data business in Asia, strengthening our market share in Taiwan, Hong Kong, China, Japan, South Korea and Southeast Asia.
“We will also use the funds to support R&D capabilities and hire world-class AI big data professionals so we can become a global standard data company.” (Translated from Japanese by Global Corporate Venturing)
