Brave Group Closes Series D Funding Round With ¥3.11B Raised
Brave Group has also secured a loan from the Shizuoka Bank as well as issuing new shares to both existing and new investors, and repurchasing shares.
Brave Group has announced that the second close of its series D funding has now resulted in an additional ¥3.11B in funding (~US$21M), bringing the cumulative amount of this funding round to ¥5.8B in total (~US$40.4M). This is the holding group's newest funding on top of its ¥1.99B (~US$13.7m) funding back in August this year, and its ¥300m funding (~US$2.33m) in January, where Web3 company Animoca Brands led said funding round.
Japanese IT company Third Wave Corporation led the said funding round, alongside Sumisho Venture Partners, REALITY Inc., SEPTENI HOLDINGS, and Shochiku Ventures. Brave Group has also secured a loan from the Shizuoka Bank as well as issuing new shares to both existing and new investors, and repurchasing shares.
Brave Group CEO Keito Noguchi has expressed his gratitude to the new funding, as well as to the holding group's new and existing investors.
Thanks to the support of our shareholders, we have been able to manage our business without slowing down our offensive activities, such as overseas expansion of our business with a focus on global IP, strengthening of alliances, management integration, and recruiting activities. We will continue to take on challenges so that Brave group can conduct “the business of expanding the potential of mankind from Japan,” which constantly creates new fields and develops people who can play an active role in them.
This is the latest of Brave Group's recent corporate endeavors, including its expansion to the Asia-Pacific and China with its Bangkok and Shenzhen offices, as well as its recent corporate revamp, centered around the intent to aim for the very top of the industry, to become a pioneer, and leading the industry forward in hopes to evoke imagery of a standard-bearer, announcing an abundant prosperity.
Other notable milestones by the company include overseas expansions such as the expansion to Europe with the subsidiary Brave Group Europe and the launch of the VTuber project Globie, which recently debuted its first generation; as well as its expansion to North America and the launch of its VTuber project V4Mirai, and the launching of three new domestic VTuber projects in Japan: Vlash, Uniraid, and HareVare; all of which are handles by the group company's new subsidiary ENILIS.
Source: Official Press Release