Japan’s startup scene has not kept up with other nations like the US, China, and the UK in terms of unicorn count and venture capital investment volume despite being one of the largest in the world. An aging population, general economic deflation, and salarymen’s preference for traditional, large corporations meant that many people found the startup life unappealing for many years.
However, this thing is going to change soon. Here are some Japanese unicorns that are worthy of your notice.
1. Spiber
Total funding raised: $653 million
Last funding round: $65 million (10 billion JPY) in April 2024
Key investors: Baillie Gifford, Fidelity Investments, Goldwin, Kansai Paint, Iowa Economic Development Authority, Shinsei Bank, and the Carlyle Group.
2. SmartNews
Total funding raised: $479 million
Last funding round: $69.3 million venture debt round in January 2024
Key investors: Atomico, Asian Capital Alliance, Development Bank of Japan, Globis Capital Partners, Japan Post Capital, JIC Venture Growth Investments, SMBC Venture Capital, Social Venture Partners, Princeville Capital, and Woodline Partners.
3. SmartHR
Total funding raised: $362 million
Last funding round: $140 million Series E in June 2024
Key investors: Beenext, Coral Capital, KKR, Light Street Capital, Sequoia Capital Global Equities, Teachers’ Ventures Growth (Arm of Ontario Teachers’ Pension Plan), World Innovation Lab, and Whole Rock.
4. Sakana AI
Total funding raised: $344 million
Last funding round: $214 million funding in Series A in September
Key investors: Dai-ichi Life, Fujitsu, Global Brain, Itochu, JAFCO, Khosla Ventures, Lux Capital, Mizuho, Mitsubishi UFJ Financial Group (MUFG), New Enterprise Associates, Nomura, Nvidia, SBI, Sumitomo Mitsui Banking Corporation (SMBC), Sony, Translink Capital, and 500 Global.
5. Preferred Networks
Total funding raised: $152.19 million
Last funding round: $8.1 million Series C in 2018
Key investors: Chugai Pharma, FANUC, Hakuhodo DY, Hitachi, JXTG, Mitsui, Mizuho Bank, Tokyo Electron, and Toyota.
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