University of Tsukuba-founded submarine drone maker FullDepth secured capital from investors including Sumitomo Forestry’s Tsukuba Research Institute and Mitsui Sumitomo Capital.
FullDepth, a Japan-based submarine drone manufacturer spun out of University of Tsukuba, has received approximately ¥340m ($3.1m) in a round backed by Tsukuba Research Institute, an R&D centre owned by housing and wood products group Sumitomo Forestry.
Corporate-backed investment fund Drone Fund led the round, with contributions from insurance group Mitsui Sumitomo’s investment subsidiary, Mitsui Sumitomo Capital, and venture firm Beyond Next Ventures.
The transaction took place in April 2019, however full details had not emerged until now.
