V-cube Robotics changes name to Sensyn Robotics and raises funds totaling USD...

V-cube Robotics changes name to Sensyn Robotics and raises funds totaling USD 11 million

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Japan: V-cube Robotics, Inc. (Head office: Shibuya-ku, Tokyo, President & CEO: Taishin Demura), the company known for providing commercial robotics solutions for businesses and local governments, has raised funds totaling approximately ¥1.2 billion(*1) (USD 10.82 million) through various ways such as a third-party allocation of new shares underwritten by Eight Roads Ventures Japan, GLOBIS CAPITAL PARTNERS & Co. (current shareholder), ITOCHU Technology Ventures, Inc., and Drone Fund. GLOBIS CAPITAL PARTNERS & Co. invested in V-cube Robotics for a second time, following its initial investment in May 2016.

Also, from July 1, 2018, the company will change its name from “V-cube Robotics, Inc.” to “SENSYN ROBOTICS, Inc.”

The interest in, and need for, robotics solutions including drones are growing every year due to social issues such as labor shortages, disaster countermeasures, and aging populations. The market size for drones in 2022 is projected to increase by 5.2 times the size in FY2017 (to ¥262.1 billion: USD 2.36 billion) (*2). The Japanese Government is advocating “Society 5.0,” and is establishing policies to balance economic development with solving social issues. Against this background, our vision is to “use the power of robotics to evolve what is considered ‘commonplace’ in society.” and respond to the social challenges faced by Japanese society today.

We will utilize the newly procured funds to accelerate our business growth by investing in service development and increasing personnel for further business expansion.

* 2 Survey by Impress Corporation

Underwriters (4 companies)

  • Eight Roads Ventures Japan
  • GLOBIS CAPITAL PARTNERS & Co. (current shareholder)
  • ITOCHU Technology Ventures, Inc.
  • Drone Fund

In conjunction with this new fundraising, the company name will be changed from V-cube Robotics, Inc. to “SENSYN ROBOTICS, Inc.”

In Japanese, “SENSYN” has the meanings of “advanced,” “dedicated,” and “calm contemplation,” while in English “SENSYN” is a combination of “Sense” and “Synchronize,” signaling co-creation and collaboration. The new name can also be a combination of “Sensing” and “Synchronization,” which are key elements in our solutions.

The new company name indicates that we are determined to bring together advanced technologies to tackle pressing social issues and customer needs, going beyond the barriers of companies and fields of expertise. It demonstrates that we will take on new challenges using the power of robotics to deliver profound solutions to the problems society faces at the earliest opportunity.

We will deliver a world in which robotics solutions are commonplace in our daily lives, tackling social issues and meeting customer needs by providing dramatic improvements in efficiency and safety not only in Japan but around the world.