# GORYO Chemical

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/goryo-chemical

- Industry: Pharmaceuticals
- Headquarters: Sapporo-shi, Japan
- Website: www.goryochemical.com
- Total disclosed funding: $28M
- Latest round: Series E (Jul 31, 2023)
- Investors on record: 17

## About

Based in Japan, GORYO Chemical, Inc. specializes in developing and manufacturing fluorescent dyes and probes, particularly for medical applications, enhancing surgical precision and patient outcomes.GORYO Chemical, Inc. was founded in 2010 in Sapporo-shi, Japan, and focuses on innovative fluorescent technologies. The company has successfully completed a total of 8 deals, with its most recent funding round being a Series E in July 2023, raising JPY 276 million from KxShare Inc., S Ventures Co., Ltd., The Hokkaido Shimbun Press, and returning investor TNBI. The company's current valuation stands at JPY 4,939.41 million. Ken-ichi Maruyama serves as both the Founder and CEO, leading GORYO's operations and strategic direction.GORYO Chemical, Inc. specializes in the development and manufacturing of fluorescent dyes and probes, being the only dedicated manufacturer of fluorescent dyes in Japan. Their core offerings include high-sensitivity fluorescent probes and navigation drugs for cancer surgeries, which utilize fluorescence to illuminate cancerous tissues during surgical procedures, thus improving surgical outcomes. GORYO Chemical caters primarily to healthcare institutions and research facilities across Asia, North America, and Europe, providing essential products for a variety of medical applications.GORYO Chemical generates revenue through direct sales to hospitals, research institutions, and healthcare providers utilizing its specialized fluorescent probes and navigation drugs. The company focuses on B2B transactions, partnering with medical facilities and distributors to deliver its products. Revenue is primarily driven by the sale of navigation drugs and research reagents, integrated into surgical workflows and research protocols, with pricing based on individual product assessments and institutional contracts. GORYO Chemical is exploring growth opportunities in expanding its product line and enhancing partnerships within the healthcare sector.In July 2023, GORYO Chemical, Inc. raised JPY 276 million in Series E funding to promote the social implementation of its technology and develop other applications. The company is planning to introduce new products tailored for additional healthcare applications, focusing on expanding its market presence in Europe and North America by 2024. The recent funding will support these initiatives, facilitating growth and the establishment of strategic partnerships to enhance its market reach.

## Funding rounds

- Series E, Jul 31, 2023, $2M — TNBI, S Ventures Co., Ltd., KxShare Inc.
- Series E, Apr 25, 2023, $1.9M — TOHOKU University Venture Partners, Hokkaido Research Institute for the Twenty-first Century, DG Incubation, TNBI
- Series D, Dec 5, 2019, $9.7M — University of Tokyo Edge Capital Partners, Hokkaido Venture Capital, Global Brain, Miyako Capital, TOHOKU University Venture Partners, SBI Okasan Alternative Investment
- Series C, Sep 30, 2016, $12M — University of Tokyo Edge Capital Partners, Hokkaido Venture Capital, Mitsubishi UFJ Capital, SMBC Venture Capital, Japan Science and Technology Agency, KSP, Universal Materials Incubator, QB Capital
- Series B, Apr 10, 2015, $2.5M — University of Tokyo Edge Capital Partners

## Investors

- University of Tokyo Edge Capital Partners (https://capitalatlas.ai/funds/university-of-tokyo-edge-capital-partners) — Series B, Series C, Series D
- Hokkaido Venture Capital (https://capitalatlas.ai/funds/hokkaido-venture-capital) — Series C, Series D
- Mitsubishi UFJ Capital (https://capitalatlas.ai/funds/mitsubishi-ufj-capital) — Series C
- SMBC Venture Capital (https://capitalatlas.ai/funds/smbc-venture-capital) — Series C
- Japan Science and Technology Agency — Series C
- KSP (https://capitalatlas.ai/funds/ksp) — Series C
- Universal Materials Incubator (https://capitalatlas.ai/funds/universal-materials-incubator) — Series C
- QB Capital (https://capitalatlas.ai/funds/qb-capital) — Series C
- Global Brain (https://capitalatlas.ai/funds/global-brain) — Series D
- Miyako Capital (https://capitalatlas.ai/funds/miyako-capital) — Series D
- TOHOKU University Venture Partners (https://capitalatlas.ai/funds/tohoku-university-venture-partners) — Series D, Series E
- SBI Okasan Alternative Investment (https://capitalatlas.ai/funds/sbi-okasan-alternative-investment) — Series D
- Hokkaido Research Institute for the Twenty-first Century (https://capitalatlas.ai/funds/hokkaido-research-institute-for-the-twenty-first-century) — Series E
- DG Incubation (https://capitalatlas.ai/funds/dg-incubation) — Series E
- TNBI (https://capitalatlas.ai/funds/tnbi) — Series E
- S Ventures Co., Ltd. — Series E
- KxShare Inc. — Series E