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Corporate Venture
jrestartup.co.jp

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Investments

30

Portfolio Exits

1

Partners & Customers

1

About JR East Start UP

JR East Start UP is the CVC arm of East Japan Railway.

JR East Start UP Headquarter Location

1-chōme-1-6 Nishishinjuku Shinjuku City

Tokyo, 160-0023,

Japan

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Latest JR East Start UP News

Japan’s parking lot sharing platform Akippa raises $7.4M, unveils IoT gate control system

May 28, 2018

Akippa , which provides a peer-to-peer sharing and reservation service for car parking, announced that it has successfully raised funds and entered into new business alliances. Japan Post Holdings, JR East Startup Program, Nippon Rent-a-car, Fukuoka Financial Group Venture Business Partners, Chubu-Nippon Broadcasting, and Chishima Real Estate joined existing investor Sumitomo Corporation bringing the total to seven participating companies. The total amount raised this time was 810 million yen (about $7.4M US) and it brought the cumulative amount raised to $2.4 billion yen (nearly $22M US). In addition to improving the service, Akippa aims to use the funds raised to build a new mobility platform. Prior to this release, the company had also announced Share Gate, a control system for parking lots using IoT gates, in collaboration with electronic key developer/supplier Art. The system can be installed at the entrance/exit of gated parking lots. Until now, parking lots that could use Akippa were limited to those without gates due to the problem of arranging entering and exiting. By using the system, Akippa users can book a parking space, connect to the system via Bluetooth, enter the access code generated by the app, and successfully open and close the gates. As a result, even in unmanned parking lots the company can provide advance booking and smart settlement. With the development of Share Gate, parking lot operators can also use Akippa to rent out parking lots during times of low occupancy. The initial cost of the device is 200,000 yen (about $1,800 US), and installation is an additional 50,000 yen ($457 US). Monthly maintenance is free and the contract period is for two years. However, if a company signs a contract within 2018 all of these costs will be born by Akippa, effectively making it free. Art provides the terminal maintenance. At the time of the release, Daiwa House Parking, Daiwa Lease, and  Izumi Parking had all introduced it. Akippa aims for MaaS–The Future of an “Akippa ID” Platform Akippa announced a large funding. It is the first news released in nearly one and a half years, the last being December 2016 with the announcement of its alliance with Toyota. Currently Akippa has 700,000 users and the number of available parking spaces has grown to 20,000. By contrast, the competition among parking sharing is getting more intense. One symbolic example is Softbank’s entry in April of this year . How does the leader in user numbers, Akippa, dodge the advancement of large companies? CEO Genki Kanaya said the answer lies in the expanded use of Akippa ID. Kanaya says: In terms of our business plan, we’ve seen (a growth curve). Our sales prediction includes roughly 1/5th of the coin parking market. According to Kanaya, the company will continue to push the current Akippa service, and with the acquired user IDs it plans to provide other services. One example he put forward was peer-to-peer car sharing, or other experiences centered around “movement”. While still in the concept stage, the strategy is to construct a mobility platform and involve many external companies. For example, along with Nippon Rent-a-car, which they aligned with this time, it will take steps to promote sharing the vacant spaces of car rental lots, and through sharing IDs, encourage mutual use among current users. In the future, the company will expand the parking spots to 100,000 by 2020 and advance the construction of a conceptual mobility platform. Translated by Amanda Imasaka

JR East Start UP Investments

30 Investments

JR East Start UP has made 30 investments. Their latest investment was in Heral Bony as part of their Series A on November 11, 2021.

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JR East Start UP Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/15/2021

Series A

Heral Bony

Yes

2

6/21/2021

Series D

Photosynth

$15.81M

Yes

5

5/26/2021

Series B

GOOD AID

$1.81M

Yes

2

4/22/2021

Seed VC

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$99M

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10

4/5/2021

Series B

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$99M

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10

Date

11/15/2021

6/21/2021

5/26/2021

4/22/2021

4/5/2021

Round

Series A

Series D

Series B

Seed VC

Series B

Company

Heral Bony

Photosynth

GOOD AID

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Amount

$15.81M

$1.81M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

2

5

2

10

10

JR East Start UP Portfolio Exits

1 Portfolio Exit

JR East Start UP has 1 portfolio exit. Their latest portfolio exit was Photosynth on November 05, 2021.

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

11/5/2021

IPO

2

Date

11/5/2021

Exit

IPO

Companies

Valuation

Acquirer

Sources

2

JR East Start UP Partners & Customers

1 Partners and customers

JR East Start UP has 1 strategic partners and customers. JR East Start UP recently partnered with MIT on March 3, 2017.

Date

Type

Business Partner

Country

News Snippet

Sources

3/27/2017

Partner

MIT

United States

Celebrating 25 years of MIT-JR East Railway partnership

Sussman was the first JR East Professor , which was established in 1991 when the partnership between MIT and JR East began .

1

Date

3/27/2017

Type

Partner

Business Partner

MIT

Country

United States

News Snippet

Celebrating 25 years of MIT-JR East Railway partnership

Sussman was the first JR East Professor , which was established in 1991 when the partnership between MIT and JR East began .

Sources

1

JR East Start UP Team

1 Team Member

JR East Start UP has 1 team member, including current Chief Executive Officer, Hiroshi Shibata.

Name

Work History

Title

Status

Hiroshi Shibata

Chief Executive Officer

Current

Name

Hiroshi Shibata

Work History

Title

Chief Executive Officer

Status

Current

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