Monstar Lab secures US$6.3m in fundraising

TOKYO: Monstar Lab Inc., a leading Japanese software development firm, has announced that it has raised JPY700 million (US$6.3mil) in a new round of equity financing from lead investors YJ Capital Inc., Shinsei Corporate Investment Ltd, San-In Chuo Television Broadcasting Co. Ltd., Fenox Venture Capital and Tanabe Corp, together with further investments from existing shareholders.
 
Monstar Lab is a leading producer of consumer and enterprise mobile apps, business software, and IoT and AR/VR applications, each customised for particular client use cases.
 
The company already has a strong presence in Asia, including Japan, Singapore, China, Philippines, Vietnam and Bangladesh and plans to leverage the new funding to continue its global expansion by entering into the European and North American markets. 

Just last week, the company announced a major investment and partnership with Nodes Group ApS, a leading Danish mobile application developer with presence in both the Northern European and UK markets.
 
The company believes that the mobile and business application development space is only going to grow further, and looks forward to expanding its premium service offerings to customers throughout Asia, Europe and the Americas.
 
Under the concept of Global IT Sourcing, Monstar Lab leverages its world-wide network of own development teams to offer clients the most suitable location and the most appropriate team for designing and building their products.
 
The company has built expertise across a range of product categories, including consumer mobile apps, enterprise mobile solutions, IoT and AR/VR, and can offer full end-to-end product development services from design, digital strategy consultation, and product development, to product marketing in local and global markets.
 
The development models are flexible, including a Time & Material model where clients have a dedicated development team that allows for close interaction and communications. The company can also deploy either local or offshore teams on a project, or a hybrid of both, to lower overall development cost while continuing to ensure high quality delivery. 

The company has also been leveraging its development and marketing presence in multiple markets to be able to offer clients, especially multinational companies, both localisation and go-to-market support when rolling out products and services to new markets. - Bernama