# UPDATER Co.

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

- Industry: Information Services
- Headquarters: Tokyo, Japan
- Website: https://www.updater.co.jp
- Total disclosed funding: $34M
- Latest round: Series C (Mar 29, 2024)
- Investors on record: 16

## About

UPDATER Co., Ltd., based in Tokyo, Japan, is a company dedicated to providing sustainability solutions through innovative platforms that promote renewable energy and ethical consumption.Founded in 2011 in Tokyo, Japan, UPDATER Co., Ltd. specializes in sustainability services, helping businesses and consumers adopt eco-friendly practices. The company was founded by David Greenberg, who has a history of entrepreneurship. Recently, on March 29, 2024, UPDATER raised JPY 200 million in Series C funding from investors KITA DENSHI and SBI Investment, bringing the total amount raised to JPY 200 million across multiple deals.UPDATER Inc. offers a comprehensive suite of sustainability-focused services aimed at addressing various social and environmental challenges. Their core offerings include a platform that facilitates the purchase of renewable energy with traceability features, thereby aiding companies in achieving their decarbonization goals. Additionally, UPDATER supports businesses in implementing sustainable practices through a membership service that provides resources for addressing corporate sustainability challenges. Their services also extend to promoting ethical consumption and transparency in the fashion industry, illustrated by their ethical scoring system for over 6,000 fashion brands. Clients include corporate entities looking to enhance their sustainability initiatives, as well as individual consumers seeking sustainable lifestyle choices, predominantly in urban areas across Japan.For the fiscal year 2023, UPDATER Inc. reported a revenue of JPY 239,000,341.6. The company operates on a subscription-based model that serves both corporate and individual clients, allowing businesses access to sustainability resources and enabling consumers to purchase renewable energy and sustainable products directly through their e-commerce platform.In March 2024, UPDATER Co., Ltd. raised JPY 200 million in Series C funding, which will be utilized to promote the adoption of renewable energy. The company plans to enhance its product offerings and expand its market presence, with specific ambitions to enter new geographic regions by the end of 2025.

## Funding rounds

- Series C, Mar 29, 2024, $1.3M — SBI Investment, KITA DENSHI
- Series C, Oct 29, 2021, $6.8M — Mizuho Capital, SBI Investment, Hulic, TBS Innovation Partners, PROTO Ventures, W, TIS, SHINWA CORPORATION
- Series C, May 7, 2021, $11M — Aozora Bank, SMBC Venture Capital, MARUI GROUP
- Series B, Jan 21, 2019, $13M — SBI Investment, TBS Innovation Partners, TOKAI Communications Corporation, Sega Sammy Holdings, MARUI GROUP
- Series A, Nov 27, 2017, $1.6M — SMBC Venture Capital, Mizuho Capital, Yokohama Capital, MT Partners
- Seed, Feb 21, 2014, $0.4M — SMBC Venture Capital

## Investors

- SMBC Venture Capital (https://capitalatlas.ai/funds/smbc-venture-capital) — Seed, Series A, Series C
- Mizuho Capital (https://capitalatlas.ai/funds/mizuho-capital) — Series A, Series C
- Yokohama Capital (https://capitalatlas.ai/funds/yokohama-capital) — Series A
- MT Partners (https://capitalatlas.ai/funds/mt-partners) — Series A
- SBI Investment (https://capitalatlas.ai/funds/sbi-investment) — Series B, Series C
- TBS Innovation Partners (https://capitalatlas.ai/funds/tbs-innovation-partners) — Series B, Series C
- TOKAI Communications Corporation — Series B
- Sega Sammy Holdings — Series B
- MARUI GROUP — Series B, Series C
- Aozora Bank — Series C
- Hulic — Series C
- PROTO Ventures (https://capitalatlas.ai/funds/proto-ventures) — Series C
- W (https://capitalatlas.ai/funds/w) — Series C
- TIS — Series C
- SHINWA CORPORATION — Series C
- KITA DENSHI — Series C