JMTC Capital

JMTC Capital is the venture arm of Japan Material Technologies Corporation. Founded in 2017 and based in Tokyo, it invests in research and development oriented hardware startups across robotics, drones, personal mobility, wearables, augmented reality and virtual reality, and sensing.

Ruka Matsubara

Senior Associate

16 past transactions

KAICO

Series B in 2025
KAICO, Ltd. is a biotechnology company based in Fukuoka, Japan, established in 2018. It specializes in the manufacture of hard-to-express proteins utilizing a unique silkworm-baculovirus expression system. This innovative approach allows KAICO to produce high-quality proteins that are crucial for the development of various healthcare applications, including drugs, vaccines, diagnostic agents, and reagents. The company's focus on protein design and processing technology enables drug researchers to create new treatments and advancements in regenerative medicine. Through its expertise, KAICO plays an essential role in supporting the pharmaceutical industry by offering contract expression reagents and pharmaceutical raw materials.

BioPhenoMA

Seed Round in 2024
BioPhenoMA develops an AI-powered platform for detecting ultra-trace proteins, accelerating new drug discovery phases. It offers high-sensitivity quantification services to support pharmaceutical research and development.

Spiral

Seed Round in 2024
Spiral Inc., established in 2016 and headquartered in Tokyo, Japan, specializes in designing and manufacturing artificial intelligence-driven automated devices. The company's primary offerings include robots, drones, and satellites, tailored for various industries such as construction, retail, and small-to-medium enterprises. Notably, Spiral develops drone solutions for indoor environments without GPS, enabling autonomous flight for inspection and monitoring purposes.

F.MED

Series A in 2024
F.MED is a manufacturing company that designs and develops robotic microsurgical devices for the healthcare industry.

AZUL Energy

Series A in 2023
AZUL Energy is a pioneering company focused on enhancing air battery performance through innovative catalyst technology. The company specializes in the development and manufacturing of metal-free catalytic electrodes and electrolysis catalysts, which are designed to optimize energy systems and promote a recycling-oriented society. AZUL Energy's research has demonstrated that its catalyst electrodes, which utilize unique pigments, outperform traditional materials such as platinum carbon. By providing cost-effective and resource-efficient solutions, AZUL Energy aims to facilitate the production of green hydrogen and support the transition to sustainable energy practices. Through its eco-friendly products, the company also advocates for new lifestyles that align with environmental sustainability.

SEQSENSE

Series B in 2023
SEQSENSE develops autonomous mobile robots and related products.

RT Corporation

Series C in 2022
RT Corporation is a Japanese company based in Chiyoda-ku, established in 2005, that focuses on the development and sale of robots and their components. The company offers a diverse range of products, including army-type robots and micro mouse robots, such as the CRANE-X7 and RIC90, as well as various service robots tailored to meet both domestic and international needs. In addition to manufacturing, RT Corporation provides services in robot development, hardware and software development, and contract manufacturing. With the growing demand for robotics fueled by advancements in artificial intelligence, RT Corporation aims to innovate and expand its offerings in the service robot sector.

Nature Architects

Venture Round in 2020
Founded in 2017, Nature Architects specializes in innovative product design using its proprietary Direct Functional Modeling algorithm. This algorithm leverages metamaterials to enable direct design of functional properties like motion and elasticity, previously challenging in conventional methods.

Sensprout

Venture Round in 2020
SenSprout Inc. is a technology company based in Tokyo, Japan, that specializes in developing and selling agricultural sensors. Founded in 2015, the company’s products are designed to measure soil moisture, surface temperature, and electrical conductivity, providing farmers with critical insights for optimizing irrigation systems. By utilizing printed electronic sensors that employ wireless power feeding techniques and ink-jet printing technology, SenSprout produces cost-effective sensors that can be mass-produced and require minimal maintenance, avoiding the complications associated with battery replacement. These sensors not only enhance irrigation efficiency for large farms and high-value crops but also offer functionalities to predict natural disasters like landslides and cliff collapses. Through its internet service, SenSprout enables the collection and analysis of farming data, empowering farmers to make informed decisions and improve their yields while conserving water resources.

Rapyuta Robotics

Series B in 2020
Rapyuta Robotics is a global cloud robotics platform company that centrally manages diverse robots and sensors. Its platform integrates robot hardware, software, sensor data, and applications in the cloud to simplify deployment and ongoing management of robotic systems, reducing the need for in-house robotics expertise. Founded in 2014 and spun out of ETH Zürich, the company operates internationally with offices in Japan and India and a subsidiary in Zurich, Switzerland. By leveraging cloud-based computation, it enables businesses to focus on core processes rather than managing hardware or software infrastructure, targeting markets such as security and inspection where scalable cloud robotics can drive efficiency.

Photo Electron Soul

Venture Round in 2020
Founded in Nagoya, Japan in 2015, Photo Electron Soul specializes in developing and managing photocathode electron beam systems. The company manufactures an electron beam generating apparatus using semiconductor photocathode technology, aiming to innovate fine observation and processing across various industries.

EneCoat

Venture Round in 2020
EneCoat Technologies, established in 2018 and headquartered in Kyoto, Japan, specializes in the manufacturing and sale of perovskite solar cells and associated materials. The company focuses on developing and commercializing thin-film solar cell technologies, aiming to generate power even in low-light conditions. EneCoat's mission is to protect the environment and efficiently harness natural energy sources, enabling businesses to conveniently produce energy from solar cells.

Elephantech

Corporate Round in 2019
Founded in Tokyo, Japan in 2014, Elephantech specializes in the manufacturing of electronic circuits. The company's innovative metal inkjet printing technology enables it to produce flexible printed circuit boards sustainably.

Triple W Japan

Venture Round in 2019
Triple W develops DFree, a wearable device using ultrasonic sensors to track bladder movements. It notifies users and caregivers of impending urination needs, benefiting elderly and disabled individuals with incontinence. DFree is marketed in Asia and Europe, used in over 500 senior care facilities, and supported by offices in Japan, France, and the US.

WHILL

Series C in 2018
WHILL designs and manufactures personal mobility products for indoor and outdoor use, aiming to shift perceptions of mobility devices through advanced technology and thoughtful design. Founded in 2013 and headquartered in San Carlos, California, WHILL develops intelligent personal electric vehicles and mobility solutions that enable mobility-as-a-service, including on-demand fleets and short-term rentals. The company seeks to make public spaces such as airports, hospitals, and vacation destinations more accessible and to empower wheelchair users to lead independent, liberating lives by providing transportation that can be driven on public roads without the need for a driver's license.

Rapyuta Robotics

Series A in 2018
Rapyuta Robotics is a global cloud robotics platform company that centrally manages diverse robots and sensors. Its platform integrates robot hardware, software, sensor data, and applications in the cloud to simplify deployment and ongoing management of robotic systems, reducing the need for in-house robotics expertise. Founded in 2014 and spun out of ETH Zürich, the company operates internationally with offices in Japan and India and a subsidiary in Zurich, Switzerland. By leveraging cloud-based computation, it enables businesses to focus on core processes rather than managing hardware or software infrastructure, targeting markets such as security and inspection where scalable cloud robotics can drive efficiency.
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