matsuri technologies Inc, a leading software provider in Japan, has successfully completed a Series D funding round, raising 1.34 billion JPY (approximately US$8.65 million). The company, headquartered in Shinjuku-ku, Tokyo, and led by founder and CEO Keita Yoshida, is known for its innovative solution StayX, which transforms single-use rooms into versatile, multi-use spaces.
New investments to boost tourism and technology
The funding round drew significant interest from both new and existing investors. Among the new investors, Vertex Ventures Southeast Asia & India (VVSEAI) played a pivotal role, alongside other prominent Japanese investors. matsuri technologies Inc. plans to leverage this new influx of capital to expand its software capabilities, grow its facility network, and enhance its workforce. The primary goal is to accelerate StayX's growth and expand its impact on Japan's tourism sector, which is nearing pre-pandemic visitor levels.
Tourism in Japan has shown remarkable recovery signs, with the Japan National Tourism Organization reporting that the number of inbound tourists might reach 25 million by 2023. The private accommodations sector, in particular, has seen significant growth. matsuri technologies Inc's strategy involves using the new funds to improve its software solutions, expand its operations, and boost recruitment to sustain and accelerate this growth. Furthermore, the company has plans for international expansion in the near future.
A strategic partnership for regional growth
Nikhil Marwaha, Senior Executive Director at Vertex Ventures Southeast Asia & India, expressed enthusiasm about the partnership, stating, “We are pleased to announce our investment into matsuri technologies Inc, an innovative company operating in Japan's rapidly growing tourism industry (inbound and domestic market). matsuri technologies Inc is an innovative company with a unique business model that meets B2B and B2C consumer needs, establishes longstanding relationships with supply chain partners, and is underpinned by a robust technology platform. By leveraging Vertex Ventures Southeast Asia and India's deep network in SEA, we look forward to partnering with matsuri technologies Inc to accelerate growth within Japan and the wider region.”
In addition to funding, matsuri technologies Inc is actively seeking talented individuals to fill various roles within the company, aligning with their vision to become the future real estate platform. This initiative is part of their broader strategy to enhance their operational capabilities and respond to the increasing demand in the tourism sector.
