S-Mat Co., Ltd. is pleased to announce that it has raised funds in a Series C round to further the business growth of its IoT inventory management system “SmartMat Cloud,” bringing its total funding to 3.5 billion yen.
For the second closing, the company raised funds through a third-party allotment of new shares to MLC Ventures, a corporate venture capital fund of Mitsubishi Logistics Corporation, as well as through loans from Shizuoka Bank Ltd. and Hokkoku Bank Ltd.
With the vision of “making the flow of goods super smart,” Esmat has been providing the inventory management and process improvement digital transformation solution “SmartMat Cloud” since November 2018.
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“SmartMat Cloud” uses IoT weighing scales to grasp real-time inventory, improving the efficiency of inventory management. It has been introduced to over 1,200 companies, and in addition to the service industry (medical care, food and beverage, and accommodation), the number of companies introducing it has been rapidly increasing in the manufacturing industry in recent years.
In particular, it has been adopted by more than half of Japan’s leading manufacturing industries, including the automotive and chemical industries, making a significant contribution to the promotion of digital transformation across the industry.
Meanwhile, the issue of a declining working population facing Japanese society as a whole is becoming more serious in the manufacturing industry as well, making maintaining and improving productivity and passing on skills to future generations urgent themes.
In order to support operational efficiency across the entire manufacturing site, starting with inventory management, Fujitsu will accelerate the development of functions that improve the entire production line process, evolving the solution into one that “brings change to both the site and management.”
SOURCE: PRTimes
