2019.10.03 Announcements

LEADING-EDGE AI TECHNOLOGY DEVELOPER ARAYA COMPLETES ADDITIONAL FUNDRAISING TOTALING 1 BILLION YEN - FURTHER ACCELERATES DEVELOPMENT AND PROVISION OF LEADING-EDGE AI AND AUTONOMOUS AI TECHNOLOGIES

(LOCATION: MINATO-KU, TOKYO; CEO: RYOTA KANAI; HEREINAFTER REFERRED TO AS "ARAYA"), A COMPANY ENGAGED IN THE DEVELOPMENT OF AI (ARTIFICIAL INTELLIGENCE) TECHNOLOGIES AND PROVISION OF SOLUTIONS, ANNOUNCES THAT IT HAS RAISED ADDITIONAL FUNDS TOTALING APPROXIMATELY 450 MILLION YEN THROUGH A THIRD-PARTY ALLOCATION OF NEW SHARES. THIS BRINGS THE TOTAL AMOUNT OF FUNDS RAISED FOR THIS SERIES TO APPROXIMATELY 1.0 BILLION YEN, IN ADDITION TO THE APPROXIMATELY 550 MILLION YEN ANNOUNCED ON JULY 22, 2019.

THE THIRD PARTY ALLOTMENT OF NEW SHARES IS UNDERWRITTEN BY "MIRAI SOUSEI NO. 2 FUND" MANAGED BY SPARKS GROUP K.K., "SMBC VENTURE CAPITAL NO. 5 INVESTMENT LIMITED LIABILITY PARTNERSHIP" MANAGED BY SMBC VENTURE CAPITAL CORPORATION, AND SUMITOMO SHOJI MACHINEX CO.

 

IN ADDITION, ON SEPTEMBER 30, 2019, WE RELOCATED OUR OFFICE TO AKASAKA, MINATO-KU, TOKYO, EXPANDING OUR OFFICE SPACE TO MORE THAN DOUBLE ITS PREVIOUS SIZE. THIS COMPLETES OUR PREPARATIONS TO STRENGTHEN OUR DEVELOPMENT AND SALES STRUCTURE BY HIRING MORE ENGINEERS AND STAFF. FURTHERMORE, WE ARE ALSO LOOKING FOR A CFO TO STRENGTHEN OUR FINANCIAL AND ADMINISTRATIVE SYSTEMS.

 

Araya Inc. New Office

Location: 24F ARK Mori Building, 1-12-32, Akasaka, Minato-ku, Tokyo 107-6024, Japan

 

Press Release (PDF)
Press Release (PDF)