Japanese corporate fund, KDDI Open Innovation Fund, has linked up in a reported $5m co-investment deal with advertising agency Digital Advertising Consortium, to take advantage of one of the latest retail and social media apps to be launched on the Japanese market, Origami.
Japan-based telecommunications group KDDI has invested through its KDDI Open Innovation Fund an undisclosed amount of start-up capital into Tokyo-based mobile application developer Origami.
Advertising agency Digital Advertising Consortium (DAC) also participated in the investment round. News reports value the deal at Y500m ($5m).
The business model of the app allows brands to get free promotion through social media and buying trends since users can not only receive brand updates, but also have the option to make related purchases. The…
