APRIL, 24, 2020 - Kyoto & Osaka, Japan - HACARUS, the leading provider of lightweight and explainable AI, is pleased to announce that it has closed its Series B round lead by Osaka Gas Co., Ltd. (hereinafter ""Osaka Gas"", ""Daigas Group""), followed by DS Pharma Animal Health Co., Ltd. (hereinafter ""DS Pharma Animal Health"") and existing shareholder Kyoto Bank.
"I am humbled to see Osaka Gas and DS Pharma Animal Health join HACARUS on our mission to provide human centric AI. From our work with both firms, I know that these are some of the best partners you could ask for, and I am excited for future collaborations!" Said Kenshin Fujiwara, CEO and Founder.
Osaka Gas' strategic investment follows on the August 2019 announcement that the two companies had joined forces to explore:
1) Joint development of AI systems to improve the efficiency, and introduce labor savings, of Daigas Group's internal operations.
2) Joint development of AI / IoT solutions for Daigas Group's customers.
Based on the results of a series of technical verifications, feasibility studies and real-world tests, the two firms decided to enter into a capital alliance to further the partnership. Following the investment, HACARUS and Daigas Group will start full-scale development and operation of AI based systems, and promote joint development of AI / IoT solutions to external customers.
DS Pharma Animal Health named HACARUS the winner of the 'New Business Search Program to Support Animal Health' in June, 2019 - since then the two companies have collaborated on AI enabled diagnostic support for animal health. The first jointly developed product is a service for standing ECG data collection and analysis, focused on detecting heart diseases. The first prototype was demonstrated at MEDICA in 2019, the world's largest trade fair for medical equipment, and at medical exhibitions in Japan. Full scale commercialization efforts are currently underway. DS Pharma Animal Health's investment encourages further joint development of AI enabled diagnosis and treatment support.
About HACARUS Co., Ltd.
Hacarus Inc. founded 2014 in Kyoto, Japan is the leading provider of Explainable Lightweight AI Tools, backed by Miyako Capital (Kyoto University) among others. Its solutions are used in the Medical and Manufacturing fields to enable humans to make better, faster and more reliable decisions, based on AI driven insights. Hacarus' proprietary AI engine is built using Sparse Modeling, an AI method that understands data like a human would - by its unique key features and is far more resource, time and energy efficient when compared to Deep Learning. To learn more, visit https://hacarus.com
About DS Pharma Animal Health Co., Ltd.
DS Pharma Animal Health is an R&D company established in July 2010 as a separate company from the business division of Dainippon Sumitomo Pharma Co., Ltd. Based on the experience and results gained through more than 70 years in the animal medicine business the company manufactures and markets pharmaceutical products for animals. In addition to medicines and functional foods, the company is expanding its business domain to the entire veterinary healthcare cycle - examinations, diagnoses, medicines and aftercare - and promoting transformation into a company that provides smart solutions. Please visit https://animal.ds-pharma.co.jp/.
For more information, visit: https://hacarus.com/press-release/20200424-series-b-osaka-gas/