Line, Mixi, Aioi Nissay Dowa Insurance, Akatsuki, Konica Minolta and Global Kids helped provide the Japan-based nursing care technology developer with $11m in new funding.
Japan-based welfare and nursing software provider Welmo has raised ¥1.17bn ($11m) from investors including corporates Aioi Nissay Dowa, Global Kids, Akatsuki, Line, Konica Minolta and Mixi.
Messaging app developer Line and internet company Mixi took part through respective vehicles Line Ventures and I Mercury Capital while insurer Aioi Nissay Dowa, child-rearing support provider Global Kids, IT product supplier Konica Minolta and mobile game producer Akatsuki invested directly.
Venture capital firm Femto Partners and investment firms Eumo and SX Capital also contributed to the round, as did unnamed additional corporate backers.
Founded in 2013, Welmo develops software applications for use in nursing homes. Milmo provides care managers with detailed data about a range of service providers to help them choose the right options for their residents.
Care Plan Assistant meanwhile gives care managers access to a wide variety of plans in order to help them construct detailed treatment strategies for individual patients.
Welmo plans to use this funding to strengthen its products and along with its sales structures. It has also established strategic partnerships with Aioi Nissay Dowa and Konica Minolta to respectively develop new insurance products and promote the use of IT and AI.
Archetype Ventures, Oita Venture Capital and Sagin Capital & Consulting, respective subsidiaries of startup network operator Archetype and financial services providers Oita Bank and The Bank of Saga, invested about $660,000 in the company in 2016. Femto Partners, I Mercury Capital and SX Capital provided an additional $4.1m in June 2018.
