Fujita, Industrial Growth Platform and SBI were among the investors in the automation technology developer, a spinout of University of Tokyo.
DeepX, a Japan-based machine automation technology spinout of University of Tokyo’s Matsuo Lab, has raised ¥1.6bn ($15.1m) from investors including construction firm Fujita Corporation, professional services provider Industrial Growth Platform and financial services group SBI.
Asset manager Sparx Group’s Mirai Creation Fund II filled out the round, and SBI participated through its SBI Investment subsidiary.
Founded in 2016, DeepX leverages artificial intelligence (AI) and machine control technologies to automate and mechanise machinery at production plants. It has worked on projects including hydraulic excavators and pasta production.
The company intends to help tackle labour shortages and manufacturing slowdown in Japan’s agriculture, construction, food processing and logistics sectors.
The funding will help ramp up engineering and computational assets in a bid to further commercialise DeepX’s automation of construction equipment, factory labour and other automation modules. It had been included in graphics processing technology producer Nvidia’s AI and deep learning-focused Inception Program in 2017.
– A version of this story first appeared on our sister site, Global Corporate Venturing.
