# Elephantech

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/elephantech

- Industry: Electronics
- Headquarters: Tokyo, Japan
- Website: www.elephantech.co.jp
- Total disclosed funding: $44M
- Latest round: Series D (May 9, 2023)
- Investors on record: 35

## About

Based in Tokyo, Japan, and founded in 2014 by CEO Shinya Shimizu, Elephantech Inc., d.b.a. Elephantech, formerly known as AgIC Inc., operates as a manufacturing company providing electronic circuits which can be applied in 3D printing. In March 2026, Elephantech raised JPY 4 billion in Series F funding from Mitsubishi Electric. 

Elephantech Inc. developed a pure additive method, which converts metal into nanoparticle ink state and leverages an inkjet printer. The company offers in-mold printed circuit (IMPC) solutions, which is a designing and manufacturing electronic circuits separately and combined after that, also focuses on lightweight and thin products. The company provides Additive manufacturing center (AMC), which is an inkjet-based manufacturing with various processes such as Ink ejection evaluation, drawing evaluation, prototype circuits, and small-scale production. 

The company generates revenue by manufacturing printed circuit boards for the electronic industries.

## Funding rounds

- Series D, May 9, 2023, $6.5M — SBI Shinsei Bank, Global Brain, Mizuho Capital, QB Capital, Daishi Hokuetsu Capital Partners, JICN
- Series D, Oct 17, 2022, $15M — Shizuoka Capital, SBI Investment, ANRI, Venture Labo Investment, MITSUBISHI GAS CHEMICAL COMPANY, INC., Gunma Regional Advanced Solution Partners, Nanto Capital Partners, Nanobank, Shin-Etsu Chemical, Nose Investment, Eiwa, Kenbishi Sake Brewing, D&I Investment
- Series C, Nov 14, 2019, $16M — Sumitomo Corporation, Seiko Epson, Mitsui Chemicals, Inc., JA Mitsui Leasing, Hiroshima Venture Capital, CBC Corporation, JMTC Capital, O2 Inc., TAKAHATA PRECISION Co., LTD.
- Series B, Sep 7, 2017, $4.8M — Daiwa Corporate Investment, INCJ, Beyond Next Ventures
- Series A, Feb 10, 2016, $1.5M — Beyond Next Ventures, Cemedine
- Angel, Jan 13, 2015, $0.5M — East Ventures, TomyK, Yoren Ltd.

## Investors

- East Ventures (https://capitalatlas.ai/funds/east-ventures) — Angel
- TomyK — Angel
- Yoren Ltd. — Angel
- Beyond Next Ventures (https://capitalatlas.ai/funds/beyond-next-ventures) — Series A, Series B
- Cemedine — Series A
- Daiwa Corporate Investment (https://capitalatlas.ai/funds/daiwa-corporate-investment) — Series B
- INCJ — Series B
- Sumitomo Corporation — Series C
- Seiko Epson — Series C
- Mitsui Chemicals, Inc. — Series C
- JA Mitsui Leasing — Series C
- Hiroshima Venture Capital (https://capitalatlas.ai/funds/hiroshima-venture-capital) — Series C
- CBC Corporation — Series C
- JMTC Capital (https://capitalatlas.ai/funds/jmtc-capital) — Series C
- O2 Inc. — Series C
- TAKAHATA PRECISION Co., LTD. — Series C
- Shizuoka Capital (https://capitalatlas.ai/funds/shizuoka-capital) — Series D
- SBI Investment (https://capitalatlas.ai/funds/sbi-investment) — Series D
- ANRI (https://capitalatlas.ai/funds/anri) — Series D
- Venture Labo Investment (https://capitalatlas.ai/funds/venture-labo-investment) — Series D
- MITSUBISHI GAS CHEMICAL COMPANY, INC. — Series D
- Gunma Regional Advanced Solution Partners (https://capitalatlas.ai/funds/gunma-regional-advanced-solution-partners) — Series D
- Nanto Capital Partners (https://capitalatlas.ai/funds/nanto-capital-partners) — Series D
- Nanobank — Series D
- Shin-Etsu Chemical — Series D
- Nose Investment — Series D
- Eiwa — Series D
- Kenbishi Sake Brewing — Series D
- D&I Investment — Series D
- SBI Shinsei Bank — Series D
- Global Brain (https://capitalatlas.ai/funds/global-brain) — Series D
- Mizuho Capital (https://capitalatlas.ai/funds/mizuho-capital) — Series D
- QB Capital (https://capitalatlas.ai/funds/qb-capital) — Series D
- Daishi Hokuetsu Capital Partners (https://capitalatlas.ai/funds/daishi-hokuetsu-capital-partners) — Series D
- JICN — Series D