Participated · Series B · Aug 2023

PowerX builds and manufactures large-scale battery storage systems and EV charging infrastructure, and is developing electric transport ships and renewable power supply services. The company is constructing a large-scale battery factory called “Power Base” in Tamano, Okayama; the module factory building was completed on August 15, 2023, with equipment installation and trial operations planned by year-end. PowerX has secured product adoption for grid-scale battery systems and is supplying systems to projects including TENOHA Higashimatsuyama and new utility-scale storage sites in Ota and Isesaki. Its Hypercharger EV ultra-rapid chargers (Standard and Compact) obtained CHAdeMO 2.0.1 certification and will be deployed at the company’s charging stations. PowerX reported a cumulative funding total surpassing ¥15.2B and had ¥13,865 million in capital (including capital reserve); the company had 92 employees as of August 2023. Founded in March 2021 and headquartered in Minato-ku, Tokyo, PowerX is pursuing partnerships and deployments to scale storage and renewable integration across Japan. PowerX designs and manufactures large-format battery products and an ultra-rapid EV charger called "Hypercharger." The company has established a wholly owned manufacturing subsidiary, PowerX Manufacturing (PXM), to produce battery-related products. It is building a large battery assembly factory called "Power Base" in Tamano, Okayama, with the manufacturing building expected to be completed in August and trial operations planned by year-end. PowerX has begun component or pilot manufacturing at a partner factory in Tokushima and installed a Hypercharger test unit in Aoyama with public trials for EV owners soon to start. The company plans a summer commercial service launch for its EV charging business and aims to open 10 urban sites in Tokyo by year-end. PowerX says it intends to scale Power Base’s battery module manufacturing capacity to up to 10 GWh per year as part of its growth plans. PowerX develops and manufactures grid-scale battery systems and EV charging equipment, including the Hypercharger ultra-fast, battery-backed EV chargers. The company is building a large battery factory called “Power Base” in Tamano, Okayama, and is rolling out its storage products for grid and commercial customers. It has secured commercial adoption for system deployments with projects such as TENOHA Higashimatsuyama and new battery stations in Gunma by Olympia. PowerX is pursuing partnerships to develop renewable generation and storage jointly with West Group, targeting 200 MWh of storage and 30 MW of solar by spring 2025, and is exploring electric transport-ship and port use cases with Muroran. The company plans to use the newly raised funds for battery R&D and for purchasing manufacturing equipment for Power Base. As of this round, PowerX’s cumulative fundraising totals about ¥15.26 billion.

Participated · Equity · May 2023

Luup provides the LUUP micromobility sharing service, allowing users to rent electric scooters and bicycles from more than 15,500 ports across Japan. The company has recorded over 5 million app downloads, numbers it says rank among the country’s largest for micromobility platforms. In August, Luup unveiled the “Unimo,” a compact three-wheeled universal car aimed at broadening accessibility to its short-distance transport options regardless of users’ age or gender. Management intends to keep expanding port density, increase vehicle fleets, and roll out operations in additional areas while working closely with police and local governments on safety initiatives. Newly secured capital will be directed toward safety measures, traffic-rule education, port expansion, service improvements and geographic growth. With the latest round, Luup’s cumulative funding has reached approximately ¥21.4 billion, reflecting strong financial backing from both equity investors and major Japanese banks.

Participated · Equity · Aug 2019

Knotel leases buildings, takes a small office for its staff, and outfits spaces with modular furniture so companies can move in and operate private, fully furnished workspaces. Unlike traditional coworking operators, Knotel focuses on enterprise clients rather than shared freelancer spaces. The company has internal tech products — Baya, a blockchain platform for data-driven acquisition decisions, and Geometry, a subscription furnishing service — intended to reduce costs and accelerate growth. Knotel now manages more than 4 million square feet across over 200 locations in cities including New York, San Francisco, London, Los Angeles, Washington, D.C., Paris, Berlin, Toronto, Boston, São Paulo and Rio de Janeiro; its London footprint stands at 263,000 square feet across 63 locations. The company plans to expand into the world’s 30 largest cities, add roughly a dozen more cities, and deepen engagement with global enterprise accounts to grow with capital efficiency. In less than four years it has raised a total of $560 million, is valued at more than $1 billion, and will use the new financing to grow its footprint and continue rapid global expansion. Knotel designs and manages agile office space for established and growing companies. Founded in 2016 by Amol Sarva, the company is NYC-based and operates nearly 100 locations in New York, San Francisco, London and Berlin. Its member network includes companies such as Starbucks, Netflix and Daimler. Knotel targets mid-market and enterprise customers. The company intends to use new funding to deepen coverage in current core and new markets among those segments. As of the reported round, total funding to date was $160M. Knotel designs and runs bespoke flexible office locations as an alternative to long-term leases and traditional coworking, offering customization in look, feel, and operations. The company focuses on providing agility for established and growing brands, allowing clients to evolve their footprints without sacrificing customization. In two years it opened forty locations across New York, San Francisco, and London, totaling nearly 1 million square feet. Today over 200 companies call Knotel home, including Starbucks, Stash, and King. Knotel plans to use new funding to more than double in size and deepen coverage in core and new markets among mid-market and enterprise businesses. The company was founded in 2016. Knotel, founded in 2015, provides a "headquarters as a service" product that lets companies customize office space while growing or shrinking as needed. The company emphasizes it is distinct from coworking, positioning its spaces as company-specific, culture-coded environments. Knotel operates a managed marketplace that connects tenants and property owners rather than buying large amounts of real estate itself. It currently runs 10 locations in New York City and raised $25M in a Series A to fund expansion. The company plans to add 40 locations over the next year, with New York as its immediate focus, and targets startups as well as media, television, finance and other non-tech tenants. Knotel says its model shares earnings with property owners—giving owners most of the earnings while Knotel retains a margin—to keep both parties viable in down markets.

Participated · Equity · Jul 2019

Synspective develops and operates the StriX series of small SAR satellites (100kg-class) and provides SAR-based data analytics to governments and enterprises. Its SAR sensors use microwaves to enable all-weather, day-or-night observation, and the small-satellite approach reduces weight and costs versus traditional SAR platforms. The company offers analytics products including ground deformation monitoring (LDM), flood-damage assessment, and disaster-damage evaluation. Synspective launched its fourth small SAR satellite, StriX-3, on March 13, 2024, with successful orbit insertion, communications, and antenna deployment. It aims to build a 30-satellite constellation in the late 2020s to enable wide-area, high-frequency Earth observation. Financially, Synspective reported a Series C raise of ¥7.0 billion and cumulative funding of about ¥28.19 billion (281.9億円), and plans to use proceeds for satellite development, manufacture, launch and operations, mass-production facility preparation, and global expansion of its data solutions. Synspective is a Japanese startup that provides satellite data solutions using small Synthetic Aperture Radar (SAR) satellites. Its SAR data and solutions are used by governments and private companies. The company raised $100M in funding. It intends to use the funds to strengthen SAR satellite and solutions development and manufacturing systems. Synspective is led by co-founder and CEO Motoyuki Arai. Its core technology was developed under the ImPACT program led by the Cabinet Office of the Government of Japan, enabling the company to build small SAR satellites and a constellation to allow frequent observation of areas of interest.