V-Cube changes company name to “SENSYN ROBOTICS”
Using the Power of Robotics to Evolve What is Considered “Commonplace” in Society
V-cube Robotics, Inc. (Head office: Shibuya-ku, Tokyo, President & CEO: Taishin Demura), the company known for providing commercial robotics solutions for businesses and local governments, has raised funds totaling approximately ¥1.2 billion(*1) (USD 10.82 million) through various ways such as a third-party allocation of new shares underwritten by Eight Roads Ventures Japan, GLOBIS CAPITAL PARTNERS & Co. (current shareholder), ITOCHU Technology Ventures, Inc., and Drone Fund. GLOBIS CAPITAL PARTNERS & Co. invested in V-cube Robotics for a second time, following its initial investment in May 2016.
Also, from July 1, 2018, the company will change its name from “V-cube Robotics, Inc.” to “SENSYN ROBOTICS, Inc.”
* 1 Calculated at the exchange rate of JPY110.847 to one USD in effect on July 2, 2018.
The interest in, and need for, robotics solutions including drones are growing every year due to social issues such as labor shortages, disaster countermeasures, and aging populations. The market size for drones in 2022 is projected to increase by 5.2 times the size in FY2017 (to ¥262.1 billion: USD 2.36 billion) (*2). The Japanese Government is advocating “Society 5.0,” and is establishing policies to balance economic development with solving social issues. Against this background, our vision is to “use the power of robotics to evolve what is considered ‘commonplace’ in society.” and respond to the social challenges faced by Japanese society today.
We will utilize the newly procured funds to accelerate our business growth by investing in service development and increasing personnel for further business expansion.
* 2 Survey by Impress Corporation
Underwriters (4 companies)
- Eight Roads Ventures Japan
- GLOBIS CAPITAL PARTNERS & Co. (current shareholder)
- ITOCHU Technology Ventures, Inc.
- Drone Fund
In conjunction with this new fundraising, the company name will be changed from V-cube Robotics, Inc. to “SENSYN ROBOTICS, Inc.”
In Japanese, “SENSYN” has the meanings of “advanced,” “dedicated,” and “calm contemplation,” while in English “SENSYN” is a combination of “Sense” and “Synchronize,” signaling co-creation and collaboration. The new name can also be a combination of “Sensing” and “Synchronization,” which are key elements in our solutions.
The new company name indicates that we are determined to bring together advanced technologies to tackle pressing social issues and customer needs, going beyond the barriers of companies and fields of expertise. It demonstrates that we will take on new challenges using the power of robotics to deliver profound solutions to the problems society faces at the earliest opportunity.
We will deliver a world in which robotics solutions are commonplace in our daily lives, tackling social issues and meeting customer needs by providing dramatic improvements in efficiency and safety not only in Japan but around the world.
■ About SENSYN ROBOTICS (formerly V-cube Robotics)
Since our establishment in October 2015, we have been developing business solutions that combine robotics technology such as drones with advanced technology. In particular, by promoting automation and generalization, we are proposing new ways to solve business problems, including saving labor and enabling unattended operations. In this way, in addition to helping tackle the social issues facing Japan, we plan to offer a diverse range of solutions developed in Japan, a front-runner of global challenges, to the rest of the world.
■ Company Profile (from July 1, 2018)
Company Name: SENSYN ROBOTICS, Inc.
Address: 5th Floor Dai-27 SY Building, 1-8-7 Shibuya, Shibuya-ku, Tokyo 150-0002, Japan
Established: October 2015
President & CEO: Taishin Demura
Director: Ryuichi Inui
Director: Hiroki Funatsu
Outside Director: Naoaki Mashita
Outside Director: Hidekazu Emre Yuasa
Outside Director (newly appointed): Masatoshi Fukasawa
Auditor: Shingo Manabe
Area of Business: Provision of commercial robotics solutions utilizing industrial drones, etc.
■ Main Services
◎ Real-Time Video Communication Service
A service that allows users to remotely share images shot by drones in real time at multiple bases enabling mutual communication among them.
In the event of a disaster or for equipment inspection, users can check the situation of the site in real time without visiting, so that they can immediately grasp the situation and make decisions.
◎ Total Solution Service
A service that packages everything necessary for the introduction of commercial drone use, including drones, on-board cameras, regular maintenance and parts replacement, and drone insurance for the rare event of an accident.
The real-time video communication service and communication equipment for connection are also included. We propose the optimum drones and on-board cameras according to the application.
◎ PV Power Plant Inspection Package “SOLAR CHECK”
An inspection package that can automate a series of tasks from photographing PV panels by drone using automatic navigation, identifying abnormal spots (hot spots) by image recognition/analysis using deep learning, and preparing a report of the inspection results.
This service can carry out inspection work with higher accuracy and in a shorter time than conventional inspection methods.
New Outside Director Mr. Masatoshi Fukasawa (Eight Roads Ventures Japan)
Eight Roads Ventures Principal, graduated from Tokyo Institute of Technology. Harvard Business School (completed PLD). As a management consultant at Accenture, Masatoshi engaged in a total of more than 50 projects in the communications, high-tech, media and Internet industries. After that, at DeNA, he was engaged in operations and marketing in the mobile game industry in the United States and abroad as Head of Marketing. He then took over as President of DeNA Life Sciences, started a new business, and was placed in charge of venture investment for domestic and overseas venture companies in the Strategic Investment Promotion Unit. Masatoshi joined Eight Roads in 2016 and has been engaged in venture investment and training.
Eight Roads Ventures Japan Company Profile
Principal investment division conducting FIL (Fidelity International Limited) venture capital investment in Japan. Eight Roads Ventures has established bases in Hong Kong, Beijing, Shanghai, Mumbai, London and Tokyo, and has provided hands-on management support to investment firms utilizing its local knowledge and global network for about 20 years. The company has been investing in Japan since 2012, and mainly invests in innovative growth stage companies.
GLOBIS CAPITAL PARTNERS & Co. Company Profile
Since its establishment in 1996, GLOBIS CAPITAL PARTNERS & Co. has managed a total of more than ¥66 billion over funds No. 1 to 5. The main investment area is early/middle stage IT start-ups from Japan, and GLOBIS supports business growth while conducting a wide range of hands-on activities for the companies it invests in. GLOBIS is working to accelerate innovation in Japan as an investment company by utilizing its wide network with businesses, institutional investors, researchers, and others.
ITOCHU Technology Ventures, Inc. Company Profile
Since its establishment in 2000, ITOCHU Technology Ventures, Inc. has been engaged in hands-on venture capital for IT and high-tech venture companies. In addition to financial support, ITOCHU Technology Ventures makes maximum use of the business know-how and business management/development experience developed by the ITOCHU Group and its global business network, setting the addition of value in the investment recipient as its highest priority.
Drone Fund Company Profile
Drone Fund is aimed at building team capabilities, as sort of “Japan Drone Co., Ltd.,” that can compete in the global market. Besides functioning as a venture capital fund, the company strongly promotes investment support from LP investors to investment recipients, intellectual property strategy support, and business tie-ups with LP investors. As the producer of Drone Company Holdings, Drone Fund acts not just as the investment lead, but is taking the initiative toward the “drone society.”
We are planning to hold a business strategy presentation event for media to cover topics including the content of this release on July 4, 2018 (Wednesday). For more detailed information please contact the PR Office below.
SENSYN ROBOTICS (formerly V-cube Robotics) Public Relations
Email: [email protected]