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11 January 2018

Investors swoop in to fund ACSL

Industrial and commercial drone developer Autonomous Control Systems Laboratory raised $18.8m in a round that featured University of Tokyo Edge Capital.

Author: Robert Lavine, news editor, Global Corporate Venturing

Autonomous Control Systems Laboratory (ACSL), a Japan-based unmanned aerial vehicle developer spun out of Chiba University, raised ¥2.1bn ($18.8m) in a funding round on Tuesday that included University of Tokyo Edge Capital.

University of Tokyo Edge Capital, the institution’s venture capital arm, invested alongside corporate-backed investment partnership Mirai Creation Investment, which led the round, Mizuho Capital, a subsidiary of bank Mizuho Financial Group, iGlobe Partners and Chiba Drone Investment.

Founded in 2013, ACSL is working on drones that will be utilised by business and government users for industrial and commercial purposes.

The company, which has secured more than 40 domestic customers despite its offering being in the proof-of-concept stage, will invest the funding in expanding internationally and strengthening its technology, especially in the field of edge computing.

University of Tokyo Edge Capital and e-commerce firm Rakuten co-led ACSL’s 2016 series A round, which it revealed in a statement this week was sized at approximately $6.3m (at contemporary exchange rates).

Mirai was formed by carmaker Toyota, financial services firm Sumitomo Mitsui Banking Corporation and asset manager Sparx.

– A version of this article first appeared on our sister site, Global Corporate Venturing.

Supporting articles: ACSL sails to new heights

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