[H2Corporation Co., Ltd.] Spiral Capital Co., Ltd. and JAFCO We raised 310 million yen in pre-series A funding with Group Co., Ltd. as the lead investor.
*H2Corporation Co., Ltd.*
Press release: August 22, 2024
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We raised 310 million yen in pre-Series A funding with Spiral Capital Co., Ltd. and JAFCO Group Co., Ltd. as lead investors.
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H2Corporation Co., Ltd. (Headquarters: Shibuya-ku, Tokyo,
Representative Director: Keiji Kawashima, hereinafter referred to as the “Company”), which provides an automation system for cost estimation work, “AI Cost Estimate,” has raised a total of 310 million yen in pre-series A round. I will let you know what I have done. In this round, Spiral
Capital Co., Ltd. and JAFCO Group Co., Ltd. are the lead investors, and Boost Capital, One
We have five new underwriters: Capital Fund and MetaProp in the United States. This capital increase brings the total amount raised to 411 million yen. *
*About H2 business development*
Our company aims to revolutionize the construction industry by developing human-centric AI and software technology. Starting with “KISO”, a SaaS software that visualizes on-site budget status and costs, we now offer “AI Estimation”, which automates cost estimation work using cutting-edge AI learning methods and development
approaches. .
“AI Estimation” is an AI-equipped SaaS software that improves the estimating process, which up until now had centered on manually picking up paper or PDF floor plans. There are cases where customers who have introduced the system have achieved up to a 90% reduction in material picking, a reduction in errors, and an increase in the number of quotation submissions. Since we released the automatic pickup function for air conditioning equipment in 2023, it has been used by various major subcontractors and construction companies. We are also conducting joint development with several major general contractors, building material manufacturers, and subcontractors to expand AI estimation.
Our company plans to use the funds obtained from this procurement to realize the following business expansion.
・Expand the scope of AI estimation / Expand the number of AI engineers and implementation support personnel
・Expansion of KISO’s on-site management functions and functions between main contractors and subcontractors
・Start providing functions that utilize generation AI
By digitizing and streamlining construction operations, we will be able to support Japan’s future infrastructure and urban development while optimizing costs.
*Investors in Pre-Series A financing*
Spiral Capital
JAFCO GROUP
Boost Capital
One Capital
MetaProp
*Investor comments*
Spiral Capital General Partner Takashi Chiba
I am very pleased to have been able to invest as a lead investor. While cost estimation work in the construction industry requires a huge amount of time and effort, it has been difficult to apply AI to cost estimation work due to the difficulty of analyzing drawings, but H2 has succeeded in developing a unique AI that improves productivity by 10 times. I did. CEO Mr. Kawashima is a serial entrepreneur who has management experience in the United States as well as a deep understanding of the construction industry and AI technology, and is confident that H2Corporation can make the leap into becoming a world-leading construction technology company. .
JAFCO Group Co., Ltd. Partner Atsushi Fujii
We believe that the ease of understanding of the service, which streamlines the cost estimation process using AI, will be a major strength not only in Japan but also when expanding overseas. In addition, our representative, Mr. Kawashima, has lived in the United States longer than in Japan, and has front-line business experience there. We are a company that can expand its services and management both domestically and internationally, and we believe we can chart an unprecedented growth trajectory. I will do my best to share this journey with you while learning myself.
Boost Capital Representative Director Takao Ozawa Director Shinichiro Hori Let’s boost together!
One Capital CEO Shinji Asada
I was attracted to Mr. Kawashima’s approach to business development through pinpoint solutions such as AI estimation and his personality, so I invested in him. This is a solution that has high potential not only in the domestic market, but also in the US market, and I feel that Mr. Kawashima’s potential as a manager, who has been running a business in the US, is immeasurable. One
As Capital, we will do our best to support you!
MetaProp Co-Founder & General Partner Zach Aarons
We are very happy to be able to participate in this funding for H2Corporation. Quantity estimation work is labor-intensive not only in Japan but also in the United States, and I think there is a great need for shortening working hours through the use of AI. Estimating is the perfect use case for implementing computer vision technology, and H2 has the best proprietary technology to help AI accomplish complex estimating faster and more efficiently. I am confident that H2 will grow into a leading company in Japan’s construction technology industry.
Company Profile
Company name: H2Corporation, Co., Ltd. (English company name: H2Corporation, Co. Ltd.)
Founded: November 2020
Address: 13-1 Uguisudanicho, Shibuya-ku, Tokyo
Business content: Design and development of construction software and AI Representative: Representative Director Keitsugu Kawashima
Employees: 27 people (including part-time and outsourced work)
Click here for information on currently hiring positions.
https://herp.careers/v1/h2corp