Eight Knot Inc. (Headquarters: Sakai City, Osaka; CEO: Yujin Kimura) is pleased to announce the completion of its Pre-Series A funding round in September 2024. Through a combination of third-party share issuance and loans from financial institutions, they have raised a total of 570 million yen.
The lead investor for this round is Spiral Innovation Partners, Inc. Additional new investors include:
- ITOCHU Technology Ventures, Inc.
- QB Capital, LLC and NCB Venture Capital
- Oriental Land Innovations Co., Ltd.
- Kyokuyo Shipyard Corporation
- IWAKITEC Co., Ltd.
Further support came from DRONE FUND Inc., the lead investor from the seed round.
This latest round brings the total cumulative funding raised by the Company, including loans, to 760 million yen.
Purpose of the Fundraising
This round of funding aims to strengthen the development team to enhance the functionality of the Eight Knot AI CAPTAIN autonomous navigation platform for small vessels, which was announced in October 2022. Additionally, it will reinforce the business development team to support business expansion.
The Company plans to:
Enhance the retrofit business by integrating Eight Knot AI CAPTAIN into existing small vessels, tailoring product functions for various domestic and international markets, and expanding its sales framework.
Utilize the expertise gained through retrofitting to provide software solutions to marine engine manufacturers, shipyards, and boat builders both in Japan and abroad, accelerating the practical implementation of autonomous navigation technology.
The following efforts will also be prioritized:
- Strengthening the engineering team with expertise in robotics and AI.
- Recruiting personnel to boost sales activities in the domestic market.
- Establishing a team to develop partnerships for overseas market expansion.
- Expanding corporate teams, including HR and inventory management.
- Recruiting staff to plan and execute public relations strategies and enhance PR activities.
Recruitment information: Click here