Japanese AI Startup Cogent Labs Closes US$20.2M Series C

Cogent Labs

Cogent Labs to use latest funds for product enhancement and overseas expansion

Japanese AI startup Cogent Labs announced the completion of its Series C funding round of US$20.2 million, in a press statement released yesterday.

According to the statement, the startup raised funding from a major global bank through third-party allotment of shares, and from Japan Finance Corporation through a Capital Subordinated Loan.

Cogent Labs had raised $13 million in the first tranche of its Series C financing in March this year through an equity issue to Aizawa-4 Limited Partnership, i Holdings, Comture Corporation, and Japan Co-Invest II Limited Partnership.

With the latest funds, Cogent Lab’s total capital stands at $41.8 million (4,502.5 million yen), including reserves.

Some of its major shareholders include SBI Investment Co. Ltd., Kiwoom Investment, Kyoto Information Processing Service Co., Nomura Holdings, Inc., Mizuho Bank, Ltd., NCORE Ventures, K2 Investment Partners LLC, and Metaplanet Holdings.

Cogent Labs will use these newly obtained funds to enhance its Kaidoku natural language processing platform and other products, as well as accelerate the overseas expansion of its business by localizing its existing services, according to the statement.

Founded in April, 2014 Cogent Labs does research and development of advanced AI and provides related solution services. Their services include:

Tegaki, an AI optical character recognition (OCR) service that allows handwritten documents to be easily saved as data simply by scanning them. It improves operational efficiency and reduces costs by quickly and accurately recognizing characters on hand-written forms used in manufacturing, distribution, finance, healthcare, service, education and other industries.

Kaidoku, a natural language processing platform that can accurately structuralize and analyze language information.

In addition to its currently available news analysis solution, Kaidoku News, Cogent Labs is also working on research and development for new services including Kaidoku Education, and Kaidoku Enterprise Search, a search engine that enables efficient access to and analysis of a company’s information assets.

Time Series Forecasting (TSF), an AI engine that can simultaneously process and analyze time-series data from various markets, and make accurate forecasts based on the results. Cogent Labs currently offers TSF as part of a stock trade volume prediction service, and is also using it in the development of a stock price prediction service.

Custom AI Consulting service which starts from interviewing clients to understand their business process and challenges, and ultimately proposes practical solutions that combine state of the art AI research with engineering.

“With top class R&D capabilities and professional engineers from all over the world, we see great potential with Cogent Labs’ commitment to providing practical services from the customer’s perspective,” said Shoichiro Kusumoto, Executive Officer Investment Department General Manager, Aizawa Investment, at the time of the first tranche of investment.

Kouichi Mukai, Representative Director and Chairman, Comture Corporation added at the time, “This capital and business alliance, will bring synergy to Cogent Labs’ state of the art AI technology and COMTURE’s advance cloud digital solutions (DX) to create new solutions & business opportunities.”

Header Image Courtesy of Cogent Labs

SHARE THIS STORY

Share on facebook
Share on twitter
Share on linkedin
Share on email
Monika Ghosh
Monika Ghosh is a Staff Writer at Jumpstart

RELATED POSTS

How Can Your Company Become More Energy-Efficient

How Can Your Company Become More Energy-Efficient?

Countries and companies are consuming too much energy today. The abrupt power cuts in China are a testimony to that. The country was forced to cut power across factories and towns to meet their energy goals. Energy efficiency—using less energy to do more—does not have to be this challenging and cumbersome, not for large corporations or startups.

Cyberport Venture Capital Forum

How Will Humans and Technology Interact in the Next Decades?

While the world has witnessed a rapid digitalization of our everyday life in the course of the pandemic, attention has been brought to the debate that has long been around–how should humans and technology interact? And how do we prepare for new developments? In response to this, Dr. David Siegel, Co-Chairman and Co-Founder of financial sciences company Two Sigma.

Top 5 NFT Scam

Top 5 NFT Scam

From art pieces like EVERYDAYS: THE FIRST 5000 DAYS by Mike Winkelmann to cryptopunks and memes like Side-eyeing Chloe, the popularity of Non-Fungible Tokens (NFT) has been on the uptick. They have also been blowing up in value in 2021. NFT sale volumes have surged eightfold, reaching US$10.7 billion in the third quarter of 2021.

What Brands Must Know About China’s Evolving Millennial Buyers

What Brands Must Know About China’s Evolving Millennial Buyers

Earlier this year, climate activist Greta Thunberg called out fast fashion consumers during an interview with a fashion magazine. She said, “If you are buying fast fashion, then you are contributing to that industry and encouraging them to expand and encouraging them to continue their harmful process.”

What Is Femtech and Are Femtech Companies on the Rise

What Is Femtech and Are Femtech Companies on the Rise?

Women’s needs have been largely neglected for years. They get fewer job opportunities, excessive household work, subpar pay and little healthcare attention. Well, no more. The rise of FemTech startups (largely women-run) is changing the healthcare landscape for women. As per a report by CBInsights, FemTech will be worth US$50 billion by 2025. So, what is FemTech, and how can you get started?