Utec was among the backers that helped University of Tokyo spinout Japan Data Science Consortium complete a $27.5m round.
Japan Data Science Consortium (JDSC), a Japan-based artificial intelligence (AI) technology spinout of University of Tokyo, closed a ¥2.9bn ($27.5m) series B round yesterday featuring University of Tokyo Edge Capital Partners, the institution’s VC arm.
Electric utility Chubu Electric Power, air conditioner manufacturer Daikin, asset manager Sparx Group’s Mirai Creation Fund II also took part in the round, as did assorted individuals.
Financial services firms Mitsubishi UFJ, Mizuho Bank and Sumitomo Mitsui Banking Corporation (SMBC) also participated in the $24.7m equity portion of the round through Mitsubishi UFJ Capital, Mizuho Capital and SMBC Venture Capital respectively.
SMBC and Resona Bank supplied $2.8m of debt financing through the round, which pushed JDSC’s overall funding to more than $31m.
JDSC is working on AI algorithm-powered digitisation services for enterprise customers and partners.
The company’s products can be applied to areas including demand forecasting for production and frailty…
