Environment modification is magnifying around the world, and one of the most challenging cases is Japan. In addition to pushing a significant fault, the archipelago is increasingly swamped from increasing sea levels that make the country more susceptible to catastrophes. A decade back, the Tohoku earthquake and tsunami dealt billions of dollars in damage, and the recovery from that catastrophe remains a significant worldwide relations flashpoint.
Innovation to address catastrophes and durability is a key area of venture capital financial investment these days, and now another start-up in the space is showing that there is widespread interest in this growing market.
The financial investment belongs to a total $100 million, multi-year deal that will plug One Issue’s platform into the Japanese market. Japan has been something of a gem in One Issue’s market development the previous couple of years. The startup hired Hitoshi Akimoto as country supervisor for Japan in late 2019 prior to officially announcing that it was expanding to Japan in February 2020. In August last year, it announced a strategic collaboration with SOMPO, and the insurance company’s venture wing invested $15 million. Today’s offer broadens that partnership further.
According to its news release, One Concern will sell its platform to six or more Japanese cities as part of the tie-up.
Formerly, One Concern had actually raised three rounds of capital according to Crunchbase and SEC filings: a seed round in October 2015, a $33 million Series A round led by NEA in 2017, and a $37 million round also co-led by NEA. The company was founded in 2015.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.
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