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Venture Capital
innovation-engine.co.jp

Investments

41

Portfolio Exits

6

Funds

9

About Innovation Engine

Innovation Engine is a Japan-based venture capital firm that aims to support venture businesses and contribute to their IPO or M&A processes.

Headquarters Location

3F, Shiba-Habitation Bldg 2-3-12, Shiba, Minato-ku

Tokyo, 105-0014,

Japan

+81-3-5730-6721

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Latest Innovation Engine News

Supersizing AI: Sweden Turbocharges Its Innovation Engine

Jan 24, 2023

Sweden is outfitting its AI supercomputer for a journey to the cutting edge of machine learning, robotics and healthcare. It couldn’t ask for a better guide than Anders Ynnerman (above). His signature blue suit, black spectacles and gentle voice act as calm camouflage for a pioneering spirit. Early on, he showed a deep interest in space, but his career took a different direction. He established the country’s first network of supercomputing centers and went on to pioneer scientific visualization technologies used in hospitals and museums around the world. Today, he leads Sweden’s largest research effort, WASP — the Wallenberg Artificial Intelligence, Autonomous Systems and Software Program — focused on AI innovation. The Big Picture “This is a year when people are turning their focus to sustainability challenges we face as a planet,” said the Linköping University professor. “Without advances in AI and other innovations, we won’t have a sustainable future.” To supercharge environmental efforts and more, Sweden will upgrade its Berzelius supercomputer . Based on the NVIDIA DGX SuperPOD , it will deliver nearly half an exaflop of AI performance, placing it among the world’s 100 fastest AI supercomputers. “A machine like Berzelius is fundamental not only for the results it delivers, but the way it catalyzes expertise in Sweden,” he said. “We’re a knowledge-driven nation, so our researchers and companies need access to the latest technology to compete.” AI Learns Swedish In June, the system trained GPT-SW3 , a family of large language models capable of drafting a speech or answering questions in Swedish. Today, a more powerful version sports 20 billion parameters, a popular measure of a neural network’s smarts. It can help developers write software and handle other complex tasks. Long term, researchers aim to train a version with a whopping 175 billion parameters that’s also fluent in Nordic languages like Danish and Norwegian. One of Sweden’s largest banks is already exploring use of the latest GPT-SW3 variant for a chatbot and other applications. A Memory Boost To build big AIs, Berzelius will add 34 NVIDIA DGX A100 systems to its cluster of 60 that makeup the SuperPOD. The new units will sport GPUs with 80GB of memory each. Ynnerman with Berzelius at the system’s March 2021 launch. “Having really fat nodes with large memory is important for some of these models,” Ynnerman said. Atos, the system integrator, is providing “a very smooth ride getting the whole process set up,” he added. Seeking a Cure for Cancer In healthcare, a data-driven life sciences program , funded by the Wallenberg Foundation, will be a major Berzelius user. The program spans 10 universities and will, among other applications, employ AI to understand protein folding, fundamentally important to understanding diseases like cancer. Others will use Berzelius to improve detection of cancer cells and navigate the massive mounds of data in human genomes. Some researchers are exploring tools such as NVIDIA Omniverse Avatar Cloud Engine and NVIDIA BotMaker to create animated patients. Powered by GPT-SW3, they could help doctors practice telemedicine skills. Robots in Zero Gravity Sweden’s work in image and video recognition will get a boost from Berzelius. Such algorithms advance work on the autonomous systems used in modern factories and warehouses. One project is exploring how autonomous systems act in space and undersea. It’s a topic close to the heart of a recent addition to WASP, researcher Christer Fuglesang, who was named Sweden’s first astronaut in 1992. Fuglesang went to the International Space Station in 2006 and 2008. Later, as a professor of physics at Sweden’s Royal Institute of Technology, he collaborated with Ynnerman on live shows about life in space, presented in the WISDOME dome theater at the Visualization Center C Ynnerman founded and directs. Thanks to his expertise in visualization, “I can go to Mars whenever I want,” Ynnerman quipped. He took NVIDIA founder and CEO Jensen Huang and Marcus Wallenberg — scion of Sweden’s leading industrial family — on a tour of outer space at the dome to mark the Berzelius upgrade. The dome can show the Martian surface in 8K resolution at 120 frames per second, thanks to its use of 12 NVIDIA Quadro RTX 8000 GPUs . Inspiring the Next Generation Ynnerman’s algorithms have touched millions who’ve seen visualizations of Egyptian mummies at the British Museum. “That makes me even more proud than some of my research papers because many are young people we can inspire with a love for science and technology,” he said. A passion for science and technology has attracted more than 400 active Ph.D. candidates so far to WASP, which is on the way to exceeding its goal of 600 grads by 2031. But even a visualization specialist can’t be everywhere. So Ynnerman’s pet project will use AI to create a vibrant, virtual museum guide. “I think we can provide more people a ‘wow’ experience — I want a copilot when I’m navigating the universe,” he said.

Innovation Engine Investments

41 Investments

Innovation Engine has made 41 investments. Their latest investment was in nearMe as part of their Series B on December 12, 2022.

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Innovation Engine Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

12/8/2022

Series B

nearMe

$5.13M

Yes

1

11/11/2022

Series A

Aerosense

$2.51M

Yes

1

7/13/2022

Series A

KAKEAI

$8.01M

Yes

2

5/25/2022

Series C

Subscribe to see more

$99M

Subscribe to see more

10

2/28/2022

Series B

Subscribe to see more

$99M

Subscribe to see more

10

Date

12/8/2022

11/11/2022

7/13/2022

5/25/2022

2/28/2022

Round

Series B

Series A

Series A

Series C

Series B

Company

nearMe

Aerosense

KAKEAI

Subscribe to see more

Subscribe to see more

Amount

$5.13M

$2.51M

$8.01M

$99M

$99M

New?

Yes

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

1

1

2

10

10

Innovation Engine Portfolio Exits

6 Portfolio Exits

Innovation Engine has 6 portfolio exits. Their latest portfolio exit was KIYO Learning on July 15, 2020.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

7/15/2020

IPO

$99M

Public

1

10/8/2019

IPO

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$99M

Subscribe to see more

10

3/1/2019

Acquired

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$99M

Subscribe to see more

0

10/12/2018

IPO

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$99M

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0

8/31/2018

Acquired

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$99M

Subscribe to see more

0

Date

7/15/2020

10/8/2019

3/1/2019

10/12/2018

8/31/2018

Exit

IPO

IPO

Acquired

IPO

Acquired

Companies

Subscribe to see more

Subscribe to see more

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Public

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Sources

1

10

0

0

0

Innovation Engine Fund History

9 Fund Histories

Innovation Engine has 9 funds, including IE Fast & Excellent Investment Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

11/2/2021

IE Fast & Excellent Investment Fund

$17.89M

1

5/17/2018

Innovation Engine POC I

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Subscribe to see more

$99M

10

12/1/2016

IE Industry Creation Fund

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$99M

10

6/13/2014

Innovation Engine Drug Discovery Support Fund

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$99M

10

12/12/2013

IE & Shijo Fund

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$99M

10

Closing Date

11/2/2021

5/17/2018

12/1/2016

6/13/2014

12/12/2013

Fund

IE Fast & Excellent Investment Fund

Innovation Engine POC I

IE Industry Creation Fund

Innovation Engine Drug Discovery Support Fund

IE & Shijo Fund

Fund Type

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Status

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Amount

$17.89M

$99M

$99M

$99M

$99M

Sources

1

10

10

10

10

Innovation Engine Team

2 Team Members

Innovation Engine has 2 team members, including current Chief Executive Officer, President, Mutsunori Sano.

Name

Work History

Title

Status

Mutsunori Sano

Chief Executive Officer, President

Current

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Name

Mutsunori Sano

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Work History

Title

Chief Executive Officer, President

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Status

Current

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