Incubate Fund

Incubate Fund, established in 2010, is a Japan-based early-stage venture capital firm specializing in seed-stage technology startups. With a portfolio of over 300 companies, it has facilitated 12 IPOs and 20 M&A exits since inception. Incubate Fund India, founded in 2016 and based in Bengaluru, operates as a subsidiary, focusing on pre-seed and seed-stage startups in India. Both entities are backed by Incubate Fund, with Incubate Fund III, a 2014 vintage fund, investing across Asia and North America in various sectors including technology, media, and logistics.

Yuuki Aono

Associate

Haruki Imaizumi

Associate

Gotoh Katsunari

Professional Partner

Kazuki Koyama

Associate

Ryu Kusakabe

Associate

Dave Kwong

Associate

Misuzu Matsumoto

Associate

Nao Murakami

Founder and General Partner

Kazuki Notsu

Co-Founder, Managing Director and Overseas Partners

Satoshi Nunokawa

Associate

Rajeev Ranka

Principal

Koichi Saito

Overseas Partner

Kyosuke Seto

Associate

Koki Tanaka

Associate

Ryo Taneichi

Associate

Tohru Akaura

Co-Founder and General Partner

Kyosuke Seto

Associate

Past deals in Transportation

Letara

Seed Round in 2024
Letara is a space technology company focused on developing a logistics network that spans the solar system. The company specializes in hybrid propulsion engines for small spacecraft, which are designed to deliver high thrust while maintaining safety and affordability. By utilizing innovative materials such as plastic in their propulsion systems, Letara aims to provide cost-effective solutions for small satellites engaged in research and development. This technology not only enhances activities in Earth's orbit but also facilitates deep space exploration, advancing the capabilities of businesses involved in the space sector.

ZABoooN

Series A in 2024
ZABoooN is a shipping company that specializes in crew labor management, movement management, and ship management services. It has developed a maritime platform that connects ships with land operations, simplifying the management of maritime activities. The platform's ship management feature allows for easy attendance registration of seafarers through a mobile device, streamlining the labor management process. This functionality automatically generates a labor-management record book, which enhances operational efficiency and reduces costs for clients by utilizing cloud services.

Letara

Seed Round in 2024
Letara is a space technology company focused on developing a logistics network that spans the solar system. The company specializes in hybrid propulsion engines for small spacecraft, which are designed to deliver high thrust while maintaining safety and affordability. By utilizing innovative materials such as plastic in their propulsion systems, Letara aims to provide cost-effective solutions for small satellites engaged in research and development. This technology not only enhances activities in Earth's orbit but also facilitates deep space exploration, advancing the capabilities of businesses involved in the space sector.

Cartken

Venture Round in 2024
Cartken is a developer of delivery robots that focus on transporting goods over short distances within neighborhoods. The company's robots are equipped with advanced sensors and cameras, enabling them to navigate safely by avoiding obstacles and selecting the safest routes. Cartken's delivery solutions cater to local businesses and customers, providing a reliable and efficient means of delivery. The company also offers a quick deploy option that simplifies the setup process, allowing users to start using the service without extensive integration requirements.

Landit

Series A in 2024
Landit manages transportation infrastructure and real estate technology firms.

EV Motors Japan

Series D in 2024
EV Motors Japan specializes in the development and sale of autonomous electric vehicles and related services within the automotive industry. The company focuses on creating a range of electric vehicles, including buses, trucks, trikes, and specialized vehicles, all designed to provide a comfortable and environmentally friendly driving experience. In addition to manufacturing vehicles, EV Motors Japan also develops charging stations, emphasizing the use of storage batteries, flexible solar panels, and reusable batteries. This approach enables both clients and individuals to access sustainable transportation solutions that align with modern eco-friendly standards.

Newmo

Seed Round in 2024
Newmo is a technology company that specializes in sustainable local public transportation. It develops a ride-sharing service platform, enabling drivers to work flexibly using their free time, and providing passengers with a safe, secure, and comfortable user experience.

Iwaya Giken

Venture Round in 2023
Iwaya Giken manufactures and sells gas balloons, airtight cabins, and other space-travel equipment.

Iwaya Giken

Venture Round in 2023
Iwaya Giken manufactures and sells gas balloons, airtight cabins, and other space-travel equipment.

Landit

Seed Round in 2022
Landit manages transportation infrastructure and real estate technology firms.

Iwaya Giken

Venture Round in 2022
Iwaya Giken manufactures and sells gas balloons, airtight cabins, and other space-travel equipment.

Iwaya Giken

Seed Round in 2021
Iwaya Giken manufactures and sells gas balloons, airtight cabins, and other space-travel equipment.

NABLA Mobility

Pre Seed Round in 2021
NABLA Mobility specializes in developing a smart navigation system for aviation, aimed at enhancing flight trajectories and settings through an adaptive advisory tool. The company's solution addresses the uncertainties present in flight conditions by leveraging artificial intelligence and machine learning in its data platform and optimization algorithms. This innovative approach not only improves operational efficiency for airlines but also plays a significant role in decarbonizing the aviation industry. By providing advanced technical tools, NABLA Mobility enables clients to streamline their operations and reduce their environmental impact, contributing to a more sustainable future for air travel.

Cartken

Seed Round in 2021
Cartken is a developer of delivery robots that focus on transporting goods over short distances within neighborhoods. The company's robots are equipped with advanced sensors and cameras, enabling them to navigate safely by avoiding obstacles and selecting the safest routes. Cartken's delivery solutions cater to local businesses and customers, providing a reliable and efficient means of delivery. The company also offers a quick deploy option that simplifies the setup process, allowing users to start using the service without extensive integration requirements.

Iwaya Giken

Venture Round in 2021
Iwaya Giken manufactures and sells gas balloons, airtight cabins, and other space-travel equipment.

UUUO

Series A in 2020
UUUO, Inc. is involved in the planning, development, and operation of a fish market in Japan, aimed at enhancing the distribution of marine products within the fisheries industry. Founded in July 2016 and based in Hiroshima, the company serves fisheries and wholesale companies. Its innovative marketplace allows users to remotely access real-time information on fish landed at various fishing ports, including photos, quantities, and market prices for different sizes. This platform facilitates direct purchase requests from wholesalers, enabling fishermen and buyers to procure fresh fish conveniently and affordably. By leveraging technology, UUUO aims to streamline the fish supply chain and improve market accessibility for all stakeholders involved.

TeTra

Venture Round in 2019
Tetra Aviation Corp. specializes in the design, research, and manufacturing of flying cars, focusing on electric vertical take-off and landing aircraft. Founded in 2018 and headquartered in Tokyo, Japan, the company aims to enhance air mobility and functionality through its innovative products. Tetra's single-seat flying vehicles are specifically designed to facilitate rapid transportation, allowing medical professionals to reach emergency situations before traditional ambulances. This capability is particularly beneficial in disaster areas and urban environments, providing a new means of transportation for individuals and enhancing overall mobility solutions. In addition to manufacturing, Tetra Aviation offers consulting and research services, further solidifying its role in the evolving landscape of air transportation.

Carstay

Seed Round in 2019
Carstay, Inc. operates a platform focused on vanlife and car travel services in Japan, providing users with the ability to reserve overnight parking spots for cars and tents. Founded in 2018 and based in Tokyo, the company facilitates car night and tent night accommodations for travelers, enhancing their mobility experience. In addition to reservations, Carstay offers car night insurance that covers potential equipment damage, injuries, user disputes, and noise complaints. The platform also enables passengers to share rides, making travel more economical and accessible for those seeking adventure and unique experiences.

Yulu

Seed Round in 2018
Yulu is a micro-mobility platform in India that aims to alleviate traffic congestion and air pollution through the provision of human and battery-powered two-wheelers. The company offers a range of smart, dockless electric vehicles that leverage advanced internet of things technology. Users can easily rent these vehicles via a user-friendly application, utilizing either a pay-per-use or subscription-based model. Yulu's focus on shared mobility addresses the challenges of last-mile connectivity and delivery, promoting a seamless and sustainable transportation solution.

UUUO

Venture Round in 2018
UUUO, Inc. is involved in the planning, development, and operation of a fish market in Japan, aimed at enhancing the distribution of marine products within the fisheries industry. Founded in July 2016 and based in Hiroshima, the company serves fisheries and wholesale companies. Its innovative marketplace allows users to remotely access real-time information on fish landed at various fishing ports, including photos, quantities, and market prices for different sizes. This platform facilitates direct purchase requests from wholesalers, enabling fishermen and buyers to procure fresh fish conveniently and affordably. By leveraging technology, UUUO aims to streamline the fish supply chain and improve market accessibility for all stakeholders involved.

Sharenori

Seed Round in 2015
Sharenori is a car sharing service that connects people who want to ride and people who own a car and shares the car among individuals.

NABLA Mobility

NABLA Mobility specializes in developing a smart navigation system for aviation, aimed at enhancing flight trajectories and settings through an adaptive advisory tool. The company's solution addresses the uncertainties present in flight conditions by leveraging artificial intelligence and machine learning in its data platform and optimization algorithms. This innovative approach not only improves operational efficiency for airlines but also plays a significant role in decarbonizing the aviation industry. By providing advanced technical tools, NABLA Mobility enables clients to streamline their operations and reduce their environmental impact, contributing to a more sustainable future for air travel.
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