TriOrb Raises Additional 300 Million Yen in Series B Second Close
The new funding brings Toyota Tsusho and JBIC on board as investors, backing TriOrb's push to introduce its omni-directional movement platform into manufacturing sites and expand into the U.S. market.
Reporting from 1 source: ASCII.jp.
TriOrb Co., Ltd. raised an additional 300 million yen in a Series B second close through a third-party allotment of shares and loans. The underwriters are the Japan Bank for International Cooperation and Toyota Tsusho Corporation, with a loan from Sumitomo Mitsui Banking Corporation. Total cumulative funding now stands at 4.53 billion yen.
TriOrb Co., Ltd. has completed a second close of its Series B round, raising an additional 300 million yen. The company, based in Kitakyushu City, Fukuoka Prefecture, develops the spherical drive 360-degree omni-directional movement platform TriOrb BASE, intended for use in manufacturing production lines.
The third-party allotment was underwritten by the Japan Bank for International Cooperation and Toyota Tsusho Corporation. Sumitomo Mitsui Banking Corporation provided a loan. With this raise, total cumulative funding reaches 4.53 billion yen, following the first close of 2.88 billion yen.
Funds will go toward mass production for market introduction, business expansion in the U.S., and organizational growth. The company plans to combine Toyota Tsusho's machinery expertise with its own solutions to build production systems with flexible line configurations, aiming for global expansion.
Synthesized by Yomimono from the 1 cited source below, including Japanese-language reporting where cited, then editorially reviewed before publishing.