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<\/p>\nCinnamon has raised a total of approximately 1.5 billion yen through capital increase through third-party allotment with the main investors being funds managed by SBI Investment Co., Ltd. and Mirai Creation Fund managed by Sparks Group Co., Ltd., as well as a loan from Sumitomo Mitsui Banking Corporation. We are pleased to inform you that we have completed fundraising.<\/p>\n
\u25a0Funding overview<\/p>\n
We have recently completed a third-party allotment capital increase as part of the Series B round, including the first close held at the end of May 2018, targeting the following investors. We also provided financing from Sumitomo Mitsui Banking Corporation. The total amount of funding this time will be approximately 1.5 billion yen.<\/p>\n
\u25a0Purpose of funding<\/p>\n
With this funding, Cinnamon will strengthen its focus on the following points in order to realize a society that fundamentally improves white-collar productivity.<\/p>\n
- Appointment of highly skilled human resources (especially highly specialized AI human resources overseas)<\/p>\n
\u30fbBy building a strong shareholder structure, we will improve Cinnamon's social credibility, strengthen our network, and accelerate growth.<\/p>\n
\u30fbStrengthening the basic technology and user interface of AI products<\/p>\n
\u30fbStrengthening the organizational structure to provide more advanced technology and detailed services (Japan, Vietnam, and Taiwan)<\/p>\n
\u30fbPromote expansion into overseas markets (USA)<\/p>\n
\u30fbR&D investment in new area development of artificial intelligence products (speech recognition, etc.)<\/p>\n
\u25a0List of funding sources<\/p>\n
\u25efFinTech Business Innovation Investment Limited Partnership (Unlimited partnership member: SBI Investment Co., Ltd. (Head office: 1-6-1 Roppongi, Minato-ku, Tokyo, Representative Director: Katsuya Kawashima))<\/p>\n
\u3007SBI Venture Investment Promotion Tax Investment Limited Partnership (Unlimited Partner: SBI Investment Co., Ltd. (Head Office: 1-6-1 Roppongi, Minato-ku, Tokyo, Representative Director: Katsuya Kawashima))<\/p>\n
\u25efFFG Venture Investment Limited Partnership No. 1 (Unlimited partnership member: FFG Venture Business Partners Co., Ltd. (Head office: 1-8-3 Otemon, Chuo-ku, Fukuoka City, Fukuoka Prefecture, Representative Director: Satoshi Fukuda))<\/p>\n
\u25efITOCHU Techno Solutions Co., Ltd. (Head office: 3-2-5 Kasumigaseki, Chiyoda-ku, Tokyo, President and CEO: Satoshi Kikuchi)<\/p>\n
\u25efSony Innovation Fund<\/p>\n
\u25efTIS Co., Ltd. (Head office: 8-17-1 Nishi-Shinjuku, Shinjuku-ku, Tokyo, President and CEO: Toru Kuwano)<\/p>\n
\u25ef Mirai Creation No. 2 Investment Business Limited Partnership (Unlimited Partner: Sparks Group Co., Ltd. (Head Office: 1-2-70 Konan, Minato-ku, Tokyo, President and Representative Director: Shuhei Abe))<\/p>\n
\u25efCorporate venture capital fund (name: Nomura Incubation Investment Limited Partnership) of Nomura Holdings, Inc. (Head office: 1-9-1 Nihonbashi, Chuo-ku, Tokyo, Representative Executive Officer, President and Group CEO: Koji Nagai)<\/p>\n
\u25efSumitomo Corporation (Head office: 2-3-2 Otemachi, Chiyoda-ku, Tokyo, Representative Director, President and Executive Officer, CEO: Masayuki Hyodo)<\/p>\n
\u25efNext Generation Corporate Growth Support No. 1 Investment Limited Partnership (Unlimited Partner: SMBC Venture Capital Co., Ltd. (Head Office: 1-3-4 Yaesu, Chuo-ku, Tokyo; President and CEO: Tatsufumi Ishibashi))<\/p>\n
\u3007Sumitomo Mitsui Banking Corporation (Head Office: 1-1-2 Marunouchi, Chiyoda-ku, Tokyo, President and CEO: Makoto Takashima)<\/p>\n
\u25efKoso Senbon (Renova Co., Ltd. Chairman and Representative Director)<\/p>\n
\u25efFujiyo Ishiguro (Representative Director, President and CEO, Netyear Group Co., Ltd.)<\/p>\n
\u25efOthers<\/p>\n
\u25a0Comments from shareholders<\/p>\n
Nomura Holdings Co., Ltd.<\/p>\n
\u201cAfter being selected for the VOYAGER accelerator program sponsored by Nomura Holdings, I was attracted to Cinnamon because they develop and deploy a full lineup of AI products that help improve productivity. We have established a scheme for acquiring and training excellent human resources in the AI field at our development base in Vietnam, and we feel there is even more potential for the future. We are looking forward to highly accurate AI products specific to business areas that cannot be achieved with general-purpose engines. \u201d<\/p>\n
Sumitomo Corporation<\/p>\n
\u201cAt Sumitomo Corporation, we support the early commercialization and growth of startup companies by combining them with the business assets of our own group, and we are also promoting the digital transformation (DX) of our group. We have highly evaluated the company's organizational structure, which has excellent AI engineers, and the technological superiority of its products.We will work with Cinnamon to further accelerate our group's DX and create next-generation new businesses. I'll figure it out."<\/p>\n
\u25a0Future outlook<\/p>\n
Going forward, Cinnamon will build a further foundation as an AI platform with the theme of "improving white-collar productivity" and will work on developing various products that promote business improvement. We will also promote collaboration with partner companies and expand sales of packages that improve accuracy in response to customer-specific requests. In addition, we will continue to expand our business not only in the Japanese domestic market, but also overseas.<\/p>\n
[Cinnamon Co., Ltd. Company Profile]<\/p>\n
Company name: Cinnamon Co., Ltd.<\/p>\n
URL: https:\/\/www.cinnamon.is<\/p>\n
Address: 6th floor, MTP Higashiazabu Building, 1-9-16 Higashiazabu, Minato-ku, Tokyo<\/p>\n
Established: October 2016<\/p>\n
Representative: Mirai Hirano, Representative Director and CEO<\/p>\n
\u25a0Business content: Artificial intelligence product business, artificial intelligence consulting business<\/p>\n
Cinnamon provides proprietary artificial intelligence engines centered on the AI OCR "Flax Scanner" that reads documents like a human, and has a track record of providing it to many major domestic companies. doing. We also have an artificial intelligence research institute in Vietnam and have succeeded in acquiring a large number of AI engineers.<\/p>\n
Since introducing "Flax Scanner" in April 2017, we have had business negotiations with over 200 companies and have provided top-class technology in Japan in the AI OCR field.<\/p>\n
In addition, through the artificial intelligence chatbot ``Scuro Bot'' and the recommendation engine ``Lapis Engine,'' we will respond to inquiries, set interview times, offer job offers at human resources companies, and contract rates for rental properties. We provide matching algorithms that enhance the<\/p>\n
Furthermore, we recently pre-launched the development of specialized voice recognition technology "Rossa Voice" and have begun demonstration experiments.<\/p>\n
\u25a0Overview of main product \u201cFlax Scanner\u201d<\/p>\n
Most of the business documents used on a daily basis are unstructured and require human effort to incorporate into business systems, resulting in a lot of waste in white-collar work. Cinnamon uses an artificial intelligence document reading engine to fundamentally reform white-collar work. A variety of documents can be supported, including PDFs, Word files, and paper documents such as printed and handwritten documents. Currently, we provide engines to many major companies, including those in the financial and insurance industries.<\/p>\n
\u3010Features\u3011<\/p>\n
By enabling AI to understand various business documents and import them into a database, white-collar work efficiency will be drastically improved.<\/p>\n
1) Can be read even if the format is unspecified<\/p>\n
2) Handwritten character reading accuracy is 99.2% in research data and 95-98% in real data.<\/p>\n
3) Automatic correction of read data by building a unique database<\/p>\n
4) Compatible with both on-premises and cloud, and can be constructed according to the customer's security policy<\/p>\n
\u25a0Cinnamon Co., Ltd. Major shareholder<\/p>\n
<\/p>\n
[Recruitment information] Cinnamon has raised a total of approximately 1.5 billion yen through a third-party allotment of new shares, with funds managed by SBI Investment Co., Ltd. and Mirai Creation Fund managed by SPARX Group Co., Ltd. as its main investors, as well as a loan from Sumitomo Mitsui Banking Corporation. [\u2026]<\/p>","protected":false},"template":"","news-cat":[27],"news-tag":[],"class_list":["post-2291","news","type-news","status-publish","hentry","news-cat-press"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/cinnamon.ai\/en\/wp-json\/wp\/v2\/news\/2291","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cinnamon.ai\/en\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/cinnamon.ai\/en\/wp-json\/wp\/v2\/types\/news"}],"wp:attachment":[{"href":"https:\/\/cinnamon.ai\/en\/wp-json\/wp\/v2\/media?parent=2291"}],"wp:term":[{"taxonomy":"news-cat","embeddable":true,"href":"https:\/\/cinnamon.ai\/en\/wp-json\/wp\/v2\/news-cat?post=2291"},{"taxonomy":"news-tag","embeddable":true,"href":"https:\/\/cinnamon.ai\/en\/wp-json\/wp\/v2\/news-tag?post=2291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nCinnamon is actively recruiting employees.
\nPlease click here for available positions and how to apply.
\nRecruitment page
\nhttps:\/\/cinnamon.is\/recruiting\/<\/a><\/p>","protected":false},"excerpt":{"rendered":"