Japan’s SBI Holdings backs $18m round for robotics startup Meltin

Japanese bio-robotics startup Meltin has raised an $18-million round backed by SBI Investments, Sumitomo Dainippon and Dai-ichi Life Insurance, the startup said in an announcement on October 17.

The fresh capital will be used to accelerate the development of avatar robots and medical devices.

“We’ve decided to participate in Meltin’s vision and provide new value to the startup based on our knowledge in the pharmaceutical business,” said Sumitomo Dainippon president and CEO Hiroshi Nomura.

SBI Investment is a wholly owned subsidiary of Japan’s SBI Holdings.

“We have high hopes that the bio-signal and robot technologies Meltin is developing will lead to revolutions in both the industry and the lives of individuals through their application in medical devices and avatar robots,” said Toshiro Kiyofuji, deputy general manager, corporate venture capital and investment department, SBI Investment.

Founded in 2013, Tokyo-based Meltin is focused on the research and development and the commercialisation of robotic technologies and medical devices. The startup is led by co-founder and CEO Masahiro Kasuya, who holds a PhD in robotics and artificial intelligence. He has been researching cyborg technology since 2002.

Meltin last raised a $2.1-million round, including grants, in December 2017 from local investors including Real Tech Fund, Japanese Organisation for Medical Device Development, and Mirai Creation Fund by SPARX Group.

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The post Japan’s SBI Holdings backs $18m round for robotics startup Meltin appeared first on DealStreetAsia.

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