FastLabel completes Series B extension round
Fast Label Press release: September 27, 2024 FastLabel completes Series B extension round of funding – Total Series B funding is 1.45 billion yen, total funding amount is approximately 2.15 billion yen –
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(Headquarters: Chiyoda-ku, Tokyo) and Sony Innovation Fund 3 L.P. (*1) as the second closing of the Series B extension round. We would like to inform you that we have conducted financing with . As a result, we have completed raising a total of 300 million yen for the entire Series B extension round, bringing the total amount raised for Series B to 1.45 billion yen and the cumulative amount raised (*2) to approximately 2.15 billion yen. (*1) Sony Ventures Inc. (Headquarters: Minato-ku, Tokyo), a wholly owned subsidiary of Sony Group Inc. (Headquarters: Minato-ku, Tokyo), is targeting venture companies in industrial fields that are expected to grow significantly in the future. This is a fund operated for the purpose of new investment (*2) “Amount procured” includes the amount procured through debt financing such as borrowings ■Purpose of funding Since our company was founded in January 2020, our main business has been providing teacher data creation services and annotation tools, and currently we offer services (outsourcing and consulting) that comprehensively support the entire data-centric AI development process. and systems (various tools). In addition to the Series B financing carried out in November 2023, we positioned the Series B extension round as a business strategy round in order to strengthen collaboration with partner companies that will contribute to further business expansion. We have decided to raise funds with the company as the underwriter. ■Purpose and aim as a business strategy round ・Strengthen collaboration with operating companies and their affiliated companies and accelerate the introduction of FastLabel (AI data platform, annotation service) ・Strengthening sales activities using the customer network of general trading companies ・Enhancing the business development system and securing human resources that contribute to business expansion ■Series B extension round overview ・Amount raised: 300 million yen
・Underwriter (in no particular order): ・PC-SBI Investment Business Limited Partnership (*3) ・Marubeni Corporation ・Sony Innovation Fund 3 L.P. *3: Panasonic Corporation (Headquarters: Minato-ku, Tokyo) and SBI Holdings Co., Ltd. (Headquarters: Minato-ku, Tokyo) are corporate venture capital companies that invest in promising domestic and overseas startup companies with strengths in the lifestyle business field. This is a fund jointly established by SBI Investment Co., Ltd. (Headquarters: Minato-ku, Tokyo), a wholly owned subsidiary of ). A press release (https://fastlabel.ai/news/20240909-panasonic-kvf) was issued on September 9, 2024. ■Comments from each company Sony Ventures Inc. ( https://www.sonyinnovationfund.com/jp/ )
Representative Director and President Kazuto Hatano We have made an additional investment in FastLabel, a top player in the field of teacher data, which can be considered one of the foundations of future AI development. We will continue to support the company’s excellent AI-related support services, which have already been adopted by multiple divisions of the Sony Group, in the hope that they will be used by more companies developing and utilizing AI. Nobuhiro Minato, General Manager of Mobile Solutions Division, Information Solutions Division, Marubeni Corporation As the use of AI in Japan rapidly progresses, improving the efficiency of preprocessing, which requires a lot of man-hours, has become a major issue from the perspective of the spread and penetration of AI. The platform provided by FastLabel has excellent UI/UX and provides comprehensive support, and we hope that it will further accelerate AI development. Through this investment, Marubeni will support FastLabel’s growth, help companies streamline their AI development processes, and promote the expansion of their AI business, helping to further spread AI and improve the productivity of society as a whole. We will continue to contribute. FastLabel Co., Ltd. CEO Kenji Suzuki In addition to additional investment from the Sony Innovation Fund, we are very pleased to welcome Marubeni Corporation as a new partner in this Series B extension round. We have a strong track record with the Sony Innovation Fund, and we look forward to building an even stronger partnership. In addition, Marubeni Corporation has a wide network as a general trading company, and will accelerate new market development and sales activities, especially in the domestic and overseas industrial fields. Since its founding, FastLabel has supported data-centric AI development, and through this latest funding, FastLabel will strengthen its collaboration with companies even more than ever before, “creating AI infrastructure and reinvigorating Japan”. We will accelerate the realization of our purpose of “becoming world-class.” ■About FastLabel Company name: FastLabel Co., Ltd. Representative: Kenji Suzuki, Representative Director and CEO Business content: Provision of “AIPaaS” that comprehensively supports AI development (AI data platform, annotation service) Established: January 23, 2020 Head office location: 5-27-5 Sendagaya, Shibuya-ku, Tokyo 151-0051 URL: https://fastlabel.ai/