MUSVI Inc., which develops and sells the telepresence system “Mado”, is pleased to announce that it has raised funds through a third-party allotment of new shares underwritten by Sumitomo Venture Partners Co. , Ltd. and a loan with stock acquisition rights from the Japan Finance Corporation.
This funding completes the Series A round announced in November 2024, and brings the company’s cumulative funding since its establishment to 720 million yen.
MUSVI’s telepresence system “Mado” is a remote communication system that achieves the same reality as face-to-face communication with overwhelming realism and zero latency based on 20 years of technological development at Sony Group Corporation. Approximately two and a half years after the full-scale business launch in September 2022, more than 600 “Mado” units have been installed both in Japan and overseas, and the system has grown steadily.
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This fundraising is an extension round of the Series A round announced in November 2024, and will secure long-term, stable funding through investment from Sumitomo Corporation Venture Partners Co., Ltd., the CVC of the Sumitomo Corporation Group, which has a global network and strengths as a general trading company, and the use of a loan with stock acquisition rights from the Japan Finance Corporation, a financing system for startups expected to have high growth potential.
MUSVI will continue to work with investors, including existing shareholders, and sales partners to solve social issues using the power of digital technology.
SOURCE: PRTimes
