Strengthening Development and Implementation of Federated Learning Technology to Integrate Internal and External Materials Data, Based on Total Funding of ¥1.1 Billion Including Equity, Loans, and Grants
CrowdChem Inc. (Headquarters: Shinagawa-ku, Tokyo; CEO: Hisataka Ikebata; hereinafter “CrowdChem”) is pleased to announce that it has been selected for the STS Phase of the 6th round of the “Deep Tech Startup Support Program (DTSU)” organized by the New Energy and Industrial Technology Development Organization (NEDO).
[Details on the selection results]
By developing a new federated learning technology based on our proprietary machine learning algorithms, we aim to commercialize a platform that allows companies involved in manufacturing and use of materials to share and utilize data collaboratively. This will promote material development and application, contributing to the realization of a more sustainable and convenient society.
[More About the NEDO DTSU Program]
At the same time, we have secured additional funding from multiple financial institutions, which we would also like to announce.
Use of the Grant
The grant will be used for:
- Algorithm development
- Enhancing security technologies
- Procuring supplementary data
- Installing equipment for validating prediction results
During the grant period, we aim to:
- Complete Proof of Concepts (PoCs) with multiple companies
- Provide prototypes and conduct trials
- Establish visible outcomes and real-world applications of our new technologies
Additional Fundraising
In addition to receiving the above grant, CrowdChem has secured loans from financial institutions, bringing our total funding (including grants) to ¥1.1 billion.
Moving forward, we will continue to enhance our product features and implementations to address the challenges facing the chemical industry.
Participating Financial Institutions
- Aozora Corporate Investment Co., Ltd.
- Shoko Chukin Bank
- The Hokkoku Bank, Ltd.
- Japan Finance Corporation (Omori Branch)
Related Press Releases
- Founded in January 2022 | CrowdChem raised approx. ¥70 million from ANRI and others!
- CrowdChem raised ¥290 million in Pre-Series A round to accelerate tech and product development.
Comments from Financial Institutions
Akifumi Kubo, CEO, Aozora Corporate Investment Co., Ltd.
We are honored to support CrowdChem. While many chemical manufacturers focus on R&D for raw materials, effective use of shared research data has yet to be realized. CrowdChem’s Data Platform, which can propose specific material compositions using proprietary algorithms, has strong potential. We will continue to support their growth.
Mitsuru Yoshida, Manager, Startup Sales Division, The Shoko Chukin Bank, Ltd
It’s our pleasure to provide funding to CrowdChem. Their work addresses long-standing challenges of digitization and productivity improvement in the vast Japanese chemical industry. Their innovative analytical technology greatly enhances the efficiency of chemical product development and contributes to the industry’s competitiveness. We look forward to helping build a new future together.
Hitoshi Takeuchi, Managing Executive Officer, Head of Tokyo Sales Division, The Hokkoku Bank, Limited
The CrowdChem team demonstrates a commanding presence in materials informatics with their proprietary algorithms. They are dedicated to solving issues across the chemical industry and driving digital transformation (DX). We at Hokkoku Bank will fully support their initiatives.
Japan Finance Corporation, Omori Branch
We actively support innovative and high-growth startups, and this loan is part of that commitment. We wish CrowdChem continued success and growth in their business endeavors.
