Cerevo Fundraises USD3M From Three Japanese Venture Funds

Tokyo-based Internet-enabled consumer electronics developer Cerevo[J], who is known for having introduced a series of Ustream encoder products for streamcasters, fundraised approximately USD3M (=JPY250M) by allocating new shares to Enova[J], Inspire Corporation and Neostella Capital.   Enova is a venture fund founded by several semiconductor manufacturers/retailers, Inspire is a VC-firm owned by Mr. Makoto Naruke who is the former president of Microsoft Japan, and Neostella is also a VC firm co-founded by Japanese three major life insurance companies.   Cerevo keeps USD1.5M (=JPY125M)  as a reserve capital and became worth about USD2.5M (=JPY204.6M).

Mr. Takuma Iwasa, the CEO and founder of the company, says, it intends to accelerate the development of new products and international marketing by using the fundraised money.

Via: TechCrunch Japan[J], CNET Japan[J]

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Masaru IKEDA has co-founded several system integration companies and consulting firms in Tokyo. He has been contributing serial columns to nationwide newspapers and IT periodicals, also he's currently serving as tech consultant for several web companies. His biography is here. His private blog is here.

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Masaru IKEDA

Masaru IKEDA has co-founded several system integration companies and consulting firms in Tokyo. He has been contributing serial columns to nationwide newspapers and IT periodicals, also he's currently serving as tech consultant for several web companies. His biography is here. His private blog is here.