Los Angeles-based Cashi Cake, the startup behind Misaky Tokyo and other D2C-focused Japanese confectionery brands, announced on Wednesday that it has secured 120 million yen (about $1 million) in the first tranche of its seed round. Participating investors include Chiba Dojo Fund, Coconala Skill Partners (CSP), Headline Asia in addition to angel investors including Hiromi Okuda and Shin Murakami.
This follows two angel rounds when the startup received 60 million yen (about $600,000) in total from ISGS Investment Works, Jun Nishikawa, Kazuma Yamauchi, Kotaro Tamura, Yoichiro Hirano, Heart Catch and others. The latest tranche brought their total funding sum up to 180 million yen (about $1.6 million). The company will use the funds to expand confectionery manufacturing capacity as well as strengthening the development effort of a seaweed drink brand.
Founded by Alyssa Miky in September of 2019, Cashi Cake uses a proprietary technology to process seaweed agar to develop high-end Japanese confectionery products. After serving the Academy Awards and Emmy Awards eve as a vendor, her company has collaborated with Kim Kardashian’s fragrance brand KKW and been featured in the Bon Appétit food magazine. The company has 310,000 followers on its Tiktok account.