SUNNYVALE, Calif.--(BUSINESS WIRE)--FlyData Inc., a Japanese-American company that enables data-driven management to allow customers to move large amounts of information to existing data warehouses, announced the completion of its $4 million Series A round of financing. Mirai Creation Investment Limited Partnership (operated by SPARX Group Co., Ltd.) led the investment round, with participation from Amano Corporation and Nissay Capital.
The investment will help the company aggressively expand its sales and marketing efforts of FlyData Sync products as well as building data solutions for IoT customers and AI data management tools. The company also opened a new office in Tokyo in August. Koichi Fujikawa, founder of FlyData, says, “We are honored to receive funding from some of Japan’s most prestigious investors. This will not only help us attract world-class talent, but is also a validation of our model and the markets we serve.”
For Industry IoT, FlyData will continue developing a cloud-based Big Data platform to help automotive/manufacturing customers improve the efficiency of production-line and quality control through a partnership with OptoComb, a leading optical-based sensor company. For AI data management tools, Project Associate Professor Yutaka Matsuo from the University of Tokyo, a leading researcher in the field of deep learning, was appointed as FlyData’s corporate advisor. This arrangement will allow the company to tap into the best and brightest engineering talent in the United States and Japan.
FlyData Inc. is headquartered in Sunnyvale, California, and was founded in 2011 based on a project selected as a part of Japan’s Ministry of Economy, Trade and Industry's MITOU Program. Previously FlyData raised more than $5M from noted investors in Japan and the US, including 500 Startups. FlyData aims to be a total solution provider for data applications, by offering solutions in the industry IoT and AI sectors, in addition to its data integration solutions.
About Mirai Creation Investment Limited Partnership
The fund targets investment in enterprises and projects that possess innovative technologies in the core fields of Al, robotics, technologies to enable a hydrogen-based society, as well as other related projects. The Fund began its operations in November 2015 with SPARX as an operator, with an investment of 13.5 billion yen by Toyota Motor Corporation, Sumitomo Mitsui Banking Corporation, and SPARX. At the end of July 2017, 19 companies have invested in the Fund and AUM reached 36.7 billion yen, and the Fund has invested in around 30 companies, in U.S., U.K., Israel and Japan.