Japan’s one of the well-known incubators, ABBALab, has announced a fund worth $14 million for the startups operating in IoT in Japan.
Many startups have great ideas related to internet of things, but due to lack of funds, they fail to thrive in their fields. ABBALab intends to make sure that IoT in Japan touches all new heights on the back of financial support to startups that have the potential to transform the world.
It’s the first instance when ABBALab has entered into a limited liability partnership to create a IoE investment fund. Other partners in this collaboration include Sakura Internet, Sojitz, Hon Hai Venture Capital fund 2020, Mistletoe and many other investors. The maturity period of this fund is ten years, and it’s likely to target software, hardware, as well as services related to IoT in Japan.
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In order to serve early-stage startups well, the fund will focus on different steps from pre-seed round to Series A investment. Moreover, ABBALab will conduct a number of follow-on investment programs as and when the situation demands.
The senior management team of ABBALab is delighted to make this announcement and hopes that it will improve the growth rate of IoT in Japan in the coming months. More details about this IoT investment fund can be found here.