# INNOPHYS CO.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/innophys-co

- Industry: Medical Devices & Equipment
- Headquarters: Tokyo, Japan
- Website: www.innophys.jp
- Total disclosed funding: $44M
- Latest round: Series C (Dec 25, 2019)
- Investors on record: 23

## About

Based in Japan, INNOPHYS CO., LTD. develops innovative assistive wearable technology that enhances the capabilities of workers, focusing on ergonomic solutions to alleviate physical strain and improve productivity in demanding sectors.INNOPHYS CO., LTD. specializes in the development of assistive wearable technology, primarily known for their flagship product, the Muscle Suit. Founded in 2013, the company is headquartered in Tokyo, Japan. The founder has a history of innovation in technology, although specific previous ventures are not documented. INNOPHYS raised JPY 3.5 billion in Series C funding on December 25, 2019, from investors including BicCamera, Brother Industries, Eight Roads Ventures, HI-LEX Corporation, NAC, TIS Inc., and Tokai Corporation. The total amount raised by the company to date is JPY 3.5 billion, with a current company valuation of JPY 9.1 billion.INNOPHYS Co., Ltd. specializes in the development and manufacturing of assistive wearable technology, primarily focusing on their flagship product, the Muscle Suit. This innovative device is designed to alleviate physical strain and enhance the capabilities of workers in various sectors, including construction, logistics, and healthcare. The Muscle Suit functions by providing support to the user's back and limbs, effectively reducing the risk of musculoskeletal injuries while improving overall productivity. Since its initial release, the product has garnered attention from industries that handle heavy lifting or repetitive tasks, such as breweries and caregiving services. INNOPHYS’s clientele includes notable companies in Japan and has expanded operations into European markets, particularly Germany and France, to meet the growing demand for ergonomic solutions in labor-intensive environments.INNOPHYS generates revenue through direct sales of its assistive technology products, primarily targeting enterprise clients across multiple sectors. For the most recent year, the company's revenue amounted to JPY 2,975,661, with an EBITDA of JPY -1,143,324. Their transaction structure is centered around business-to-business (B2B) interactions, where they engage in partnerships with corporations seeking to enhance workplace safety and efficiency. Sales may also be facilitated through established distributors and retailers, ensuring broader market access. The Muscle Suit, along with other products, are offered as one-time purchases, allowing clients to equip their workforce with the necessary tools to mitigate physical strain.INNOPHYS CO., LTD. aims to expand its product line, with plans to launch new versions of the Muscle Suit designed for specific industries by 2022. The company is targeting specific geographic regions for expansion, particularly in Europe, focusing on Germany and France by the end of 2021. The recent funding of JPY 3.5 billion raised in December 2019 will be utilized to accelerate product development and market entry strategies, ensuring the company is well-positioned to meet the increasing demand for ergonomic solutions worldwide.

## Funding rounds

- Series C, Dec 25, 2019, $32M — Eight Roads Ventures, Tokai Corporation, MIRAIDOOR, TIS Inc., Brother Industries, NAC, HI-LEX Corporation, BicCamera
- Series B, Jan 31, 2019, $7.4M — Sansei Capital Investment, Shun Hing Capital, SMBC Venture Capital, NEC Capital Solutions, Jochu Technology, Venture Labo Investment, Tokyo University of Science Investment Management
- Series A, Aug 3, 2015, $4.7M — INCJ, Mitsubishi UFJ Capital, JA Mitsui Leasing, Tama Shinkin Bank, Toho Bank, DBJ Capital, Seibu Shinkin Capital, Tokyo University of Science Investment Management, Fukushima Bank

## Investors

- INCJ — Series A
- Mitsubishi UFJ Capital (https://capitalatlas.ai/funds/mitsubishi-ufj-capital) — Series A
- JA Mitsui Leasing — Series A
- Tama Shinkin Bank — Series A
- Toho Bank — Series A
- DBJ Capital (https://capitalatlas.ai/funds/dbj-capital) — Series A
- Seibu Shinkin Capital (https://capitalatlas.ai/funds/seibu-shinkin-capital) — Series A
- Tokyo University of Science Investment Management (https://capitalatlas.ai/funds/tokyo-university-of-science-investment-management) — Series A, Series B
- Fukushima Bank — Series A
- Sansei Capital Investment (https://capitalatlas.ai/funds/sansei-capital-investment) — Series B
- Shun Hing Capital — Series B
- SMBC Venture Capital (https://capitalatlas.ai/funds/smbc-venture-capital) — Series B
- NEC Capital Solutions (https://capitalatlas.ai/funds/nec-capital-solutions) — Series B
- Jochu Technology — Series B
- Venture Labo Investment (https://capitalatlas.ai/funds/venture-labo-investment) — Series B
- Eight Roads Ventures (https://capitalatlas.ai/funds/eight-roads-ventures) — Series C
- Tokai Corporation — Series C
- MIRAIDOOR (https://capitalatlas.ai/funds/miraidoor) — Series C
- TIS Inc. — Series C
- Brother Industries — Series C
- NAC — Series C
- HI-LEX Corporation — Series C
- BicCamera — Series C