Japan’s First Daily Deal Service Piku Raises USD7.3M VC Round

Japan’s first start-up operating deal-of-the-day website Piku Media[J] announced today that they completed the allocation of new shares worth USD7.3M to Germany-based VC fund Rebate Networks GmbH (co-founded by the owners of Germany’s largest social network service studi.vz[G]), Global Venture Capital, DIT Partners and an undisclosed investor. This fundraising was arranged by Tokyo-based tech start-up incubator J-Seed Ventures. Piku Media funraised USD1.7M last month as well, and is now capitalized at USD10.2M in total.
The company is now providing coupon-based daily deal service for limited regions, that allows you to be served at discount prices at restaurants, ice cream shops and spas etc. With the fundraised money, they’re planning to expand the service for the markets in all 47 prefectures of Japan.
Piku Media was founded in 2004 for running an English language school and providing membership discount services for hotel and restaurant visitors. They launched the deal-of-the-day service in Tokyo last April.

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