Tokyo-based Photosynth Inc. the Japanese startup developing an entrance system Akerun a smart lock without any construction required , a cloud-based room-entry access control system, and its online management system to enterprise and small businesses .
The company has raised 3.5 billion yen (about $33 million) in equity funding as well as loans from Shinsei Bank, Japan Finance Corporation, Mizuho Bank, Joyo Bank, and others. With this, the company has raised about 5 billion yen (about $47.3 million) in total capital across including all rounds.
Related – Japanese video tech startup Paronym raise funding from Thai telecom giant
While the latest round was joined by the Norinchukin Bank with participation from NTT Docomo Ventures, 31Ventures, Line Ventures, Toppan Printing, BSP Group, Scrum Ventures, Joyo Sangyo Kenkyujo, Globis Capital Partners, and others.
The company is planning to utilize the fresh funds to promote research and development of the authentication platform as well as strengthening customer support and sales.
The smart lock device can be attached to any doors and be opened/lock with a smartphone or IC card, such as train electronic fare cards. Also, the online management system can be used for employee’s attendance management and as proof of the security level of user companies.
Read also – Tokyo-Based Proptech startup WealthPark bags US$8.5Mn in Series B round
More than 4,500 companies have already introduced Akerun in their respective offices owing to its advantages, including easy post installation for existing doors, versatility in enabling physical access via public transportation IC cards, and high convenience realized through cloud management.
Furthermore, Akerun is being adopted by a growing number of facilities, such as shared offices, rental space, and fitness clubs, because the system requires no physical key exchange and allows the key issue on a remote control basis.
