Raising a Total of 270 Million Yen in Series A Round, Accelerating the Development of Edge Computing with an AI Chip
Sparse Modeling AI startup Hacarus (Headquarters: Kyoto City, Nakagyo-ku Ward, CEO: Kenshin Fujiwara) has announced its issue of third-party allocation of shares. On October 5, 2018, Hacarus had officially fundraised 100 million yen. Since July 2018, this funding round has further continued rising a total sum of 270 million yen resulting in the completion of Series A round. To date, Hacarus’s total earnings have risen 370 million yen.
Three investors have been newly added to the fundraising scheme and are listed below: (in alphabetical order)
- Innovation Engine Inc.
- Kaga Electronics Co., Ltd.
- PALTEK Corporation
The acquired funds will be used to develop AI chips by utilizing FPGAs and strengthening the system for development of ARM-based box computers. Innovation Engine Inc., Kaga Electronics, and PALTEK Corporation which are the firms that are backing this project, are semiconductor trading companies entrusted with design and development support of FPGAs, selling finished products such as EMS (Electronic Equipment Contract Development and Manufacturing Service), PC and other peripheral equipment from sales of electronic parts and semiconductors. These investors are venture capital companies that strategically conduct investment in materials, electronics, IT and biotechnology fields. From here on, each company will continue to serve as partners in development, sales, and strategic planning to consistently extract problems, inspect and introduce problems in edge computing and strive for joint development of a new AI solution.
About Innovation Engine Inc.
Established in 2001, Innovation Engine (IE) is a leading venture capital firm promoting investment in business areas generated from technology. Having an investment performance of 23 billion yen to date, Innovation Engine continues to actively endorse investment projects as well as discover and support the growth of technology-based businesses.
About Kaga Electronics Co., Ltd.
Founded in 1968 as an independent trading company specializing in electronics, Kaga Electronics has been expanding its business along with developing the electronics industry. As of December 31, 2017, with 43 group businesses (15 in Japan, 28 overseas) and 5,444 group business employees, along with a capital stock of 12.1 billion yen and consolidated sales of 227.2 billion yen (fiscal year ending March 2017), Kaga Electronics continues to grow as a global general trading company specializing in electronics.
About PALTEK Corporation
Founded in 1982, PALTEK is a Japanese electronics manufacturing company that has sold semiconductor products in and outside of Japan as well as provided services for leading software and hardware design and served as a product developing partner for specification development to prototype development and supported mass production. Based on their corporate philosophy “Symbiosis with Diverse Existence”, which means to prosper by ensuring the prosperity of one’s partners and customers, PALTEK provides methods to find the most optimal solution to problems and by doing so, contributes to a partner and customer growth.
Established in 2014 as a healthcare related AI venture, Hacarus develops its own AI through application of sparse modeling technology that excels in featuring extraction from small amounts of data to machine learning. To apply sparse modeling methodology to machine learning, large amounts of learning data is vital. Therefore, resulting in an AI’s decision-making processes to become a “black box” making it uninterpretable. As large quantities of computing resources are necessary in the learning phase, Hacarus tries to solve the issues that take place in engaging in deep learning.
Summary of Hacarus
Kikusan Bldg. 3F Room 302
112 Machigashiracho Nakagyo-ku
Kyoto-shi Kyoto 604-8206 Japan
Establishment: January 2014
Capital: 300 million 19,460,000 yen (including capital reserve funds)
Miyako Capital Co., Ltd., Innovation Engine Co., Ltd., Capital Medica Ventures Co., Ltd., Ohara Pharmaceutical Industry Co., Ltd., Essential Pharma Inc., Medi Future Co., Ltd., PALTEK, Kaga Electronics Co., Ltd., Chushinba Venture Capital Co., Ltd. , Senshu Ikeda Capital Co., Ltd., Kyo Bank Leasing and Capital Co., Ltd., Future Venture Capital Co., Ltd., Management Team and more