Investments

Urban startup NEWLOCAL raises ¥400M in Series A round

Town development startup NEWLOCAL Inc. is pleased to announce that it has raised 400 million yen in Series A funding through a third-party allotment of new shares, with Samurai Incubate Inc. as the lead investor, and with West Japan Railway Company, JR East Start-Up Inc., KDDI Corporation's "KDDI Regional Initiatives Fund No. 1", Agribusiness Investment & Consultation Inc., and others as underwriters. The total amount raised since the company's founding, including loans, is now 1 billion yen. With this funding, the company will promote recruitment, exploration of new areas, and business development, accelerate the establishment of a sustainable urban development model that makes use of the characteristics of each region, and continue to expand throughout Japan. NEWLOCAL aims to establish a sustainable regional model in a society with a declining…