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IT-Farm company logo
Venture Capital
FINANCE | Investment Firms & Funds
it-farm.com

Investments

58

Portfolio Exits

12

Funds

1

About IT-Farm

IT-Farm is a venture capital firm that specializes in seed, start-up, and early-stage companies. It primarily invests in mobile, big-data, connected car, IoT, OTT service, Health care, Bio-Tech and other IT industries. The firm actively invests in the SF bay area and Japan, as well as other areas including Asia and Europe.

Headquarters Location

Shinjuku i-Land Tower 5F 6-5-1 Nishi-Shinjuku, Shinjuku

Tokyo, 163-1305,

Japan

03-5324-3531

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Latest IT-Farm News

New Jersey Approves MGA Honeycomb to Sell Commercial Real Estate Policies

Feb 2, 2023

February 2, 2023 The New Jersey Department of Insurance has given Honeycomb Insurance approval to sell policies statewide. The technology-based managing general agent (MGA) serves the commercial real estate market and will offer insurance for apartment buildings, condominium associations and single family rental dwellings both online and through brokers. The policies are backed by Accredited Surety and Casualty Co. With the launch in New Jersey, Honeycomb now operates in 10 states, the nine others being California, Texas, Illinois, Arizona, Ohio, Michigan, Georgia, Pennsylvania, and Wisconsin. The MGA reports that it writes more than $5.5 billion of real estate assets. The New Jersey entry comes a year after it raised $15.4 million in a Series A funding and announced plans to expand into more states. Overall, Honeycomb has raised $19 million. The company began writing U.S. policies in June of 2021. “Commercial lines insurance and specifically insurance for multi-family properties is ripe for disruption given the sheer complexity entailed in underwriting this class of risk, its manual processing legacy, and the absence of a leader in the market,” said Honeycomb’s co-founder and CEO Itai Ben-Zaken after last year’s raise. Ben-Zaken said New Jersey has “long been on the top of the list” for the company, noting it is the state with the highest population density. Chicago-based Honeycomb’s technology eliminates the need for on-site physical inspections to assess risk, utilizing instead satellite imagery, computer vision, artificial intelligence and machine learning. As a result, the quote process is quick. Honeycomb also employs market data-driven applications and advanced algorithms that accelerate the process of purchasing and pricing policies. Its digital platform is available to insurance agents. Honeycomb is backed by institutional investors including IBEX Investors, SiriusPoint Ltd, Phoenix Insurance, New Era Capital Partners, IT-Farm Corporation, Sure Ventures, and Distributed Ventures

IT-Farm Investments

58 Investments

IT-Farm has made 58 investments. Their latest investment was in Unito as part of their Seed VC - II on January 26, 2024.

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IT-Farm Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/26/2024

Seed VC - II

Unito

No

2

10/31/2023

Seed VC

Tupu

$3.2M

Yes

2

10/17/2023

Series A

Darmiyan

$3.54M

No

1

7/31/2023

Series C

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$99M

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10

5/17/2023

Pre-Seed

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$99M

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10

Date

1/26/2024

10/31/2023

10/17/2023

7/31/2023

5/17/2023

Round

Seed VC - II

Seed VC

Series A

Series C

Pre-Seed

Company

Unito

Tupu

Darmiyan

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Amount

$3.2M

$3.54M

$99M

$99M

New?

No

Yes

No

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Co-Investors

Sources

2

2

1

10

10

IT-Farm Portfolio Exits

12 Portfolio Exits

IT-Farm has 12 portfolio exits. Their latest portfolio exit was Wish on December 16, 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

12/16/2020

IPO

$99M

Public

40

3/17/2020

Acquired

$99M

7

12/18/2019

IPO

$99M

Public

2

5/13/2019

Acquired

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$99M

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10

4/18/2019

IPO

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$99M

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10

Date

12/16/2020

3/17/2020

12/18/2019

5/13/2019

4/18/2019

Exit

IPO

Acquired

IPO

Acquired

IPO

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Public

Public

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Sources

40

7

2

10

10

IT-Farm Fund History

1 Fund History

IT-Farm has 1 fund, including Fund VII.

Closing Date

Fund

Fund Type

Status

Amount

Sources

12/8/2020

Fund VII

$1M

1

Closing Date

12/8/2020

Fund

Fund VII

Fund Type

Status

Amount

$1M

Sources

1

IT-Farm Team

3 Team Members

IT-Farm has 3 team members, including current President, Morio Kurosaki.

Name

Work History

Title

Status

Morio Kurosaki

President

Current

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Name

Morio Kurosaki

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Work History

Title

President

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Status

Current

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