[LocationMind Co., Ltd.] LocationMind completes Series B 2nd closing and raises total Series B funding of 3.17 billion yen
*LocationMind Co., Ltd.*
Press release: September 13, 2024
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LocationMind completes Series B 2nd close and raises total Series B funding of 3.17 billion yen
* LocationMind Co., Ltd., an AI/space venture from the University of Tokyo (Headquarters: Chiyoda-ku, Tokyo)
Representative Director: Naoki Kiritani, hereinafter referred to as LocationMind, has completed Series B funding totaling 3.17 billion yen. As a result, the total amount of funding raised since its founding will be approximately 4.91 billion yen.
In the 2nd closing of Series B, we have raised a total of 1.37 billion yen, including approximately 930 million yen in equity and
approximately 450 million yen in debt. *
Background and purpose of funding
LocationMind is a venture company that aims to become the world’s largest location information bank and develops two businesses: an AI business related to location information and a space business. In the AI business, we handle global location information big data in various formats such as people, cars, ships, and satellite images, and provide advanced analysis on a global scale. Currently, we have grown to handle location information from over 80 countries, and we will continue to accelerate business development both domestically and internationally.
In the space business, we have patented technology that applies security measures to the positioning signal itself, and provide next-generation GNSS security services. Positioning signals, such as GPS, are currently the most common means of obtaining location information in the world. However, since positioning signals are transmitted using open specifications, there is a risk that they can be easily tampered with or attacked, and various frauds and attacks have actually been carried out.
In this business environment, we have decided to raise funds to invest in further growth of existing businesses and new businesses.
1. Expansion of analytical solutions in existing businesses and further expansion of areas and areas of development
We plan to invest growth funds through hiring human resources, expanding our handling of data sources, improving the sophistication of our solutions, and accelerating global expansion.
2. Commercialization of space business
We are developing highly reliable next-generation GPS receivers for smart devices such as automobiles, ships, and drones, and are carrying out concept and demonstrations to build social infrastructure based on safe and secure positioning technology, and are developing
next-generation location information data. We will accelerate commercialization so that all GPS positioning can be replaced with “GPS positioning that is certified to be free of fraud” instead of “simple GPS positioning that can be fraudulent.”
3. Development of spatial information generation AI
With a single chat, we will accelerate the development of spatial information generation AI that enables analysis of advanced spatial information related to the dynamics of people, cars, ships, real estate, etc. around the world.
Please refer to the link below for the funding release for Series B1st Close. https://locationmind.com/news/20240117series-b/
Comments from LocationMind CEO Kiritani
We would like to thank various companies for their support during the 2nd closing following the 1st closing of Series B. We are happy to be able to issue a press release like this with a company that not only provides funding but also supports our growth.
LocationMind’s challenge is to “build a company that can analyze what’s happening, when and where around the world.” We perform large-scale analysis of people using a variety of location information data, such as movement information from smartphones, cars, ships, etc. For many businesses, people are the market, and growth opportunities and risks lurk in changes in that market. By knowing the flow of people surrounding your business, you can find business opportunities or become aware of risks. In this way, we provide a wide range of support for the large and small decisions that private companies and governments make on a daily basis.
Eventually, through LocationMind, I would like to aim for a world where any business or individual can perform advanced analysis using such data as a matter of course, and to achieve that, I will need to analyze the world. We need to become a company that can.
As of 2024, it is true that the digitalization of the world is still in its infancy, and we must use our technological capabilities to discover much from incomplete data. In addition, location information data itself is subject to fraud and attacks, which has become a major problem worldwide, and it is necessary to address this problem through next-generation technology and raise the standard of society to a high level. We aim to respond to these needs through location information AI and space technology and become the world’s leading company in location information analysis.
Comments from participating investors and financial institutions (in no particular order)
* [Mr. Takayuki Higashi, Managing Director, Kyodo News General Incorporated Association]*
We are very pleased to have invested in LocationMind, which has world-class technological capabilities in location information analysis. As technological innovations related to AI, space, and satellites progress rapidly and the risk of misuse increases, we hope that LocationMind’s presence in providing highly reliable information will continue to grow not only in Japan but also around the world. . We deliver news from all over the world in real time and have a huge amount of data, including past news. We would like to consider a wide range of collaborations between the two companies, including the provision of new information using data.
* [HAKUHODO DY FUTURE DESIGN FUND (HAKUHODO DY Ventures Inc.) Managing Partner Director COO
Mr. Urushiyamanosuke】*
The location information analysis solution provided by LocationMind is an important tool for companies and local governments to make data-based decisions in real time, and we believe that its
applications are wide-ranging and have enormous social significance. Through this investment, we look forward to combining LocationMind’s outstanding technological capabilities with Hakuhodo DY Group’s consumer ideas and creativity, creating new value through
location-based AI and satellite intelligence, and contributing to the realization of a better society. I am.
* [Mercuria Investment Co., Ltd. Venture Investment Strategy Investment Manager Kohei Fujita]*
We have recently invested in LocationMind from Mercuria Supply Chain Fund (MSCF). We are very happy to be working with LocationMind, which is highly rated by many businesses and investors. MSCF aims to become a platform that helps solve logistics and supply chain issues, and we believe that the advanced location information analysis and signal authentication technology provided by LocationMind will become indispensable in the process of IoT penetration into the logistics industry. I’m here. We will do our best to support Mercuria in realizing its management philosophy of “Common sense in five years.”
* [Mr. Rio Inaba, Senior Director, Sales Department, Shizuoka Capital Co., Ltd.]*
We are confident that LocationMind’s analytical and technological capabilities will permeate society as infrastructure.
LocationMind’s analysis of various data, including location
information, is used to solve social issues such as infrastructure, logistics, disaster prevention, and security.
We will utilize the Shizuoka Financial Group’s network to provide as much support as possible for further growth.
* [Daiwa House Ventures Co., Ltd. President and Representative Director Tetsuo Suzuki] *
Daiwa House Group is
As a group that co-creates value for people, cities, and lifestyles, we are working to create safe and secure cities by providing high-value-added housing, construction, and real estate.
As people’s lives become richer with the advancement of information and communication technology and technology, the importance of building safe and secure social infrastructure becomes even more important.We will work together with LocationMind to create safe and secure cities. .
* [Mr. Tomohiro Konishi, ICT Solutions Manager, JA Mitsui Lease Co., Ltd.]* We believe that LocationMind’s advanced location information analysis technology and signal authentication technology will find even more use in a society that requires data-driven decision-making. In addition, we highly value the reliability of the company, which has been used in many national projects, the high level of professionalism of its members, and the enthusiasm of its management, which led us to invest in the company.
JA Mitsui Lease will continue to work together with LocationMind to support the growth of all industries and companies that utilize data.
* [Gogin Capital Co., Ltd. President and Representative Director Shuichi Ida] * With data-driven management in various industries, advanced analysis of location information is an essential technology for society. LocationMind has built up a track record mainly in central government projects using advanced location information analysis technology. We believe that there is great hope that this technology will help solve social issues in a wide range of fields, including tourism, events, transportation, logistics, and retail.
The San’in Godo Bank Group aims to create open innovation in local communities through collaboration with startup companies.
* [Mr. Yukihiro Osugi, General Manager, Venture Business Support Department, Shizuoka Bank, Ltd.] *
We are convinced that LocationMind’s advanced location information processing technology and signal authentication technology are indispensable technologies not only in Japan but around the world, so we executed the venture debt.
In addition, we can expect synergy effects with local governments and companies in Shizuoka Prefecture, and we look forward to seeing them as partners who will work together to energize Shizuoka Prefecture. We will continue to do our best to support the further challenges of LocationMind, which is leading the world.
* [Keisuke Iwakiri, Director, Growth Company Support Department, Sumitomo Mitsui Trust Bank, Ltd.]*
LocationMind’s advanced location information processing technology and signal authentication technology are evaluated as promising
technologies that can solve various social issues.
We have started doing business with this company because we strongly sympathize with its high social significance and the members who are passionately developing their business as world leaders.
Going forward, SuMi TRUST Bank will continue to contribute to expanding the startup market and creating unicorn companies by actively supporting companies with high growth potential like LocationMind.
“Company Profile”
Company name: LocationMind Inc. (English name: LocationMind Inc.) Location: PMO Kanda Tsukasa-cho 4F, 2-8-1 Kanda Tsukasa-cho, Chiyoda-ku, Tokyo Representative: Representative Director / Naoki Kiritani
Established: February 2019
URL: https://locationmind.com/
《Contact information regarding this matter》
Email address: pr@locationmind.com
Person in charge: Sano
LocationMind official website