Total amount raised
$102.5 Million
Latest funding date
9/1/2017
Location
Updater has successfully raised funding over nine rounds, with the latest being a Corporate Round. The company is backed by 17 investors, including Matsukiyo Cocokara and KITA DENSHI.
Keep reading to explore the intricacies of Updater's fundraising journey and the investors backing this innovative platform.
What Is Updater?
Updater is a sustainability platform based in Tokyo, Japan, offering services in social issues, renewable electricity, supply chain, and well-being. The company operates in various sectors, including blockchain, electrical distribution, energy, Internet of Things, retail, social media, and sustainability.
With an employee count ranging from 101 to 250, Updater simplifies the sale of complex products and services, such as internet, mobile plans, insurance, TV service, and utilities. The company focuses on reducing operational drag and ensuring seamless order delivery across multiple channels.
How Much Funding Has Updater Raised?
- Corporate Round
- Amount Raised: Not publicly disclosed
- Date: March 2024
- Lead Investors: KITA DENSHI, Matsukiyo Cocokara
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Strengthen sustainability initiatives, including decarbonization, well-being, and biodiversity.
- Series C
- Amount Raised: JPY 1,150,000,000
- Date: May 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Expand sustainability services and enhance technology.
- Series C
- Amount Raised: JPY 1,500,000,000
- Date: October 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Scale operations and improve service delivery.
- Series B
- Amount Raised: JPY 1,180,000,000
- Date: January 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Enhance renewable energy traceability and expand market reach.
- Corporate Round
- Amount Raised: JPY 400,000,000
- Date: December 2018
- Lead Investors: MARUI GROUP
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Strengthen ethical procurement and well-being services.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: September 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Expand renewable energy business.
- Series A
- Amount Raised: JPY 180,000,000
- Date: November 2017
- Lead Investors: Makoto Takano
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Develop blockchain technology for energy traceability.
- Series Unknown
- Amount Raised: JPY 80,560,000
- Date: June 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Enhance technology and expand services.
- Series Unknown
- Amount Raised: JPY 50,000,000
- Date: February 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to launch operations.
Total Amount Raised: Not publicly disclosed
Current Valuation: Not publicly disclosed
Key Investors
- KITA DENSHI
- Details: KITA DENSHI is one of the most recent investors in Updater, participating in the latest corporate funding round. The company is headquartered in Toshima, Tokyo, and led by CEO Tomoya Kobayashi.
- Investment Focus Areas: Sustainability, decarbonization, well-being, biodiversity.
- Notable Investments: Updater.
- Matsukiyo Cocokara
- Details: Matsukiyo Cocokara is a key investor in Updater, involved through their MC&C Investment Business Limited Partnership. The company is headquartered in Tokyo, Bunkyo Ward, and led by representative director Matsumoto Kiyoo.
- Investment Focus Areas: Sustainability, health, ethical society.
- Notable Investments: Updater.
- MARUI GROUP
- Details: MARUI GROUP is a significant investor in Updater, participating in the corporate funding round in December 2018. The company is known for its focus on ethical procurement and well-being services.
- Investment Focus Areas: Ethical procurement, well-being, retail.
- Notable Investments: Not publicly disclosed.
- Makoto Takano
- Details: Makoto Takano is a notable investor in Updater, leading the Series A funding round in November 2017. He is recognized for his contributions to the development of blockchain technology for energy traceability.
- Investment Focus Areas: Blockchain technology, energy traceability, sustainability.
- Notable Investments: Not publicly disclosed.
What's Next for Updater?
Updater stands at the cusp of significant growth opportunities, driven by its commitment to sustainability initiatives such as decarbonization, well-being, and biodiversity. With a robust capital base and recognition as a top platform for renewable energy traceability in Japan, the company is well-positioned to expand its services, including "Minna Denryoku," "Minna Air," and "TADORi." The collaboration with MatsukiyoCocokara & Company, which boasts over 3,400 stores and 140 million customer interactions, further amplifies the potential for growth.
Future fundraising opportunities appear promising, especially given the recent investments from prominent entities like Kitadenshi Holdings Group and MatsukiyoCocokara & Company. These investments not only validate Updater's business model but also pave the way for additional funding to support their ambitious sustainability projects. The increasing focus on sustainability and renewable energy in the industry trends aligns perfectly with Updater's mission, making it an attractive prospect for future investors.
However, Updater may face challenges in scaling their sustainability initiatives and maintaining their technological edge in blockchain-based energy traceability. Navigating the competitive landscape of renewable energy and managing stakeholder expectations will require continuous innovation and strategic planning. Despite these challenges, Updater's strong foundation and industry recognition position it well for future success.
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