Kyoto University and University of Tokyo both participated in a series B round for the artwork-focused blockchain technology developer.

Startbahn, a Japan-based developer of blockchain technology to certify the authenticity of art pieces, has raised ¥1.12bn ($10.5m) in a series B round backed by Kyoto University and University of Tokyo.
The two institutions participated through respective venture capital arms Miyako Capital and University of Tokyo Edge Capital (Utec).
The round also included broadcaster TBS’s Innovation Partners, real estate software producer Ops, ISGS Investment Works and private investors Yoshihisa Nakano, Miwa Taguchi and Seiichiro Yamamoto.
Startbahn has created technology called Cert that relies on an IC tag attached to artwork to prove its authenticity, restoration and appraisal history, and to allow it to be traced.
The tag has a purported lifecycle of 200 years and its data is also stored on the blockchain in case it is damaged. The tag is irreparably when it is peeled off from an artwork to prevent it from being attached to a fake.
The series B proceeds have been allocated to further expansion efforts in the US and Singapore, as well as an entry into the United Kingdom. The company’s existing international presence already includes Cambodia, Thailand and Sri Lanka.
The money will also allow Startbahn to tap into the nascent non-fungible token craze by offering technology to corporate clients that will allow it to sell such tokens.
SBI Investment, a venture capital subsidiary of financial services firm SBI Holdings, supplied an undisclosed amount in May 2019 through its SBI AI & Blockchain fund.
Startbahn attracted $2.8m in a March 2020 round featuring marketing firm Dentsu, SX Capital and private investor Ryutaroh Katayama. Utec reportedly also took part in the round, having already provided $900,000 in 2018.
– Additional reporting by Liwen-Edison Fu. A previous version of this article, based on a third-party report rather than the press release, erroneously referred to the company as Startburn. We apologise for the mistake.

Thierry Heles

Thierry Heles is the former editor-at-large of Global University Venturing and Global Corporate Venturing, and was the producer and host of the Beyond the Breakthrough podcast until December 2024.