Monstar Lab, Inc., a Tokyo, Japan-based software development firm, raised JPY 700 million (US$6.3M) in a new round of equity financing.
Lead investors included YJ Capital Inc., Shinsei Corporate Investment Limited, San-In Chuo Television Broadcasting Co., Ltd., Fenox Venture Capital and Tanabe Corporation, and existing shareholders.
The company, which already has a presence in Asia, including Japan, Singapore, China, Philippines, Vietnam and Bangladesh, intends to use the funds to continue its global expansion by entering into the European and North American markets.
Monstar Lab is a producer of consumer and enterprise mobile apps, business software, and IoT and AR/VR applications, each customized for particular client use cases. The company can offer end-to-end product development services from design, digital strategy consultation, and product development, to product marketing in local and global markets. It has over 800 employees across 9 countries and 17 cities (Tokyo, Osaka, Matsue, Chengdu, Qingdao, Shanghai, Beijing, Hanoi, Da Nang, Singapore, San Francisco, Dhaka, Cebu, Manila, Copenhagen, Aarhus and London).
Lat week, Monstar Lab announced a major investment and partnership with Nodes Group ApS, a Danish mobile application developer with presence in both the Northern European and UK markets.