CAST has raised 40 million yen from the Real Tech Fund and Higin Venture Fund through the issuance of J-KISS-type stock acquisition rights. With this financing, CAST will accelerate its efforts to secure a test site and develop technologies to realize the elimination of hard labor in the manufacturing industry by using its unique sensor technology, such as a pipe wall thinning monitoring system for factories that can be left on at all times, even in high-temperature and confined spaces.
■Company Overview
At factory sites, the number of leakage and explosion accidents caused by inadequate monitoring is increasing every year due to aging factories and a shortage of inspectors caused by aging workers. In addition, inspections are mainly carried out once every six months to once a year by human inspectors with inspection equipment in harsh environments such as high temperatures, high places, and confined spaces. CAST is a Kumamoto University-approved venture that aims to solve problems in the manufacturing industry with its unique thin piezoelectric sensor with heat resistance and flexibility, which utilizes Kumamoto University's "sol-gel composite piezoelectric device" technology, a result of Kumamoto University research. CAST's ultrasonic sensors can be installed in any location and can be "left on" to monitor piping, thereby eliminating the labor-intensive task of manufacturers, who have to have a sensor in their hands to inspect piping in dangerous locations.
■Main Use of Proceeds
This financing is a joint investment by the Realtech Fund*1 managed by Realtech Holdings Corporation (Location: Sumida-ku, Tokyo; Representatives: Yukihiro Maru and Akihiko Nagata) and the Higin Venture Fund*2 managed by Higin Capital Corporation (Location: Kumamoto City, Kumamoto Prefecture; President: Tomohiro Miyazaki). CAST is a joint venture between the Real Tech Fund*1 and Higin Venture Fund*2. CAST has completed the product design of CAST's proprietary sensor and is aiming for mass production and sales promotion. With the funds raised through this financing, CAST will secure a site for a demonstration of the continuous monitoring using CAST sensors, and will develop, install, and operate a monitoring system. 1 Official name: Real Tech Fund No. 3 Investment Limited Partnership (a.k.a. "Glocal Deep Tech Fund") *2 Official name: Higin Venture Investment Limited Partnership
■About CAST
Location: 2-39-1 Kurokami, Chuo-ku, Kumamoto City, Kumamoto Prefecture (inside Kumamoto University) Representative Director: Kei Nakatsuma Business: Research, development, manufacturing, and sales of sensors, peripheral devices, and software
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