# Novars

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

- Industry: Energy Storage & Batteries
- Headquarters: Tokyo, Japan
- Website: www.novars.jp
- Total disclosed funding: $2.1M
- Latest round: Series B (Sep 1, 2017)
- Investors on record: 2

## About

Novars Inc. is a Tokyo-based company specializing in innovative battery solutions for monitoring and programming applications, particularly focused on elder care technology.Founded in 2015, Novars Inc. offers technology solutions aimed at enhancing safety and monitoring for the elderly. The company has successfully closed 6 deals, with the latest being a Series C round in October 2022, raising JPY 50 million from investor ARONKASEI. The total amount raised by the company amounts to JPY 50 million, valuing the company at JPY 2,368.635 million.Novars Inc. primarily offers the MaBeee product line, focusing on innovative battery solutions designed for monitoring and programming applications. Their flagship product, the MaBeee monitoring battery (model MB-3103WY), enables users to track the safety and well-being of elderly family members through a smartphone application. This product specifically targets families living apart, providing peace of mind through real-time alerts and status updates. The MaBeee system integrates easily into everyday battery-operated devices, transforming standard dry batteries into intelligent monitoring tools. Additionally, Novars Inc. caters to businesses through the MaBeee monitoring and control models, supporting various programming initiatives. Their products are primarily marketed in Japan, focusing on urban areas with a growing need for elder care solutions due to an aging population.Novars Inc. generates revenue through direct sales of its MaBeee products to both consumers and businesses, establishing a business-to-consumer (B2C) and business-to-business (B2B) model. The company offers various pricing plans for individual and business users, allowing customers to choose from monitoring models suited to personal use or corporate applications. The company's offerings may also include subscription-based services tied to app functionalities, enhancing the user experience and providing continuous updates for their monitoring solutions. Through partnerships with local banks and health service providers, Novars Inc. extends its reach, solidifying its revenue streams across both consumer and institutional markets.In October 2022, Novars Inc. raised JPY 50 million in Series C financing from ARONKASEI. The company plans to use these funds to strengthen collaboration with ARONKASEI in the development and commercialization of new nursing care equipment. Future initiatives include designing and launching new products targeted at improving elder care solutions. Additionally, Novars Inc. aims to expand its market reach beyond Japan, exploring opportunities in other regions with similar demographic challenges, although specific regions and timelines have yet to be disclosed.

## Funding rounds

- Series B, Sep 1, 2017, $0.9M — Nissay Capital
- Series A, Sep 8, 2016, $1.2M — Mizuho Capital, Nissay Capital

## Investors

- Mizuho Capital (https://capitalatlas.ai/funds/mizuho-capital) — Series A
- Nissay Capital (https://capitalatlas.ai/funds/nissay-capital) — Series A, Series B