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Dentsu Announces its Corporate Venture Capital Fund Dentsu Ventures Investment in U.S. Social Robot Development Startup Jibo - Dentsu, Inc. announced that Dentsu Ventures Global Fund I has made an investment of three million U.S. dollars in U.S. social robot development startup Jibo, Inc. - Jibo.com / Dentsu-V.com
Dentsu Announces its Corporate Venture Capital Fund Dentsu Ventures Investment in U.S. Social Robot Development Startup Jibo

 

NewswireToday - /newswire/ - Tokyo, Japan, 2015/08/06 - Dentsu, Inc. announced that Dentsu Ventures Global Fund I has made an investment of three million U.S. dollars in U.S. social robot development startup Jibo, Inc. - Jibo.com / Dentsu-V.com. Tokyo: 4324

   
 
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Dentsu, Inc. (President & CEO: Tadashi Ishii; Head Office: Tokyo; Capital: 74,609.81 million yen) announced today that Dentsu Ventures Global Fund I (hereinafter “Dentsu Ventures”), the Company’s corporate venture capital fund, has made an investment of three million U.S. dollars in U.S. social robot development startup Jibo, Inc. (Head Office: Boston, Massachusetts; CEO: Steve Chambers).

Dentsu Ventures was established in April of this year with the objectives of investing in ambitious start-up companies that will create an as yet unseen future and furthering open innovation across the Dentsu Group through collaboration with investees. In addition to funding, Dentsu Ventures will support businesses and entrepreneurs by providing problem-solving solutions and resources that are unique to the Group. Its first project is Jibo, Inc.

Jibo, Inc. was founded by Dr. Cynthia Breazeal, Professor at the Massachusetts Institute of Technology and recognized as a pioneer of social robotics. The Jibo social robot incorporates voice and emotion recognition, natural language processing, machine learning and expressive display and movement, and is designed to achieve companionship and rapport among family members.

Dentsu Ventures (dentsu-v.com) believes that Jibo will continue to develop into a new type of medium that will bring fundamental changes to the way information is assimilated, and that it has the potential to function as an infrastructure and communication hub in a smart home.

Looking ahead, the Dentsu Group will also provide support for the development, promotion and spread of Jibo worldwide as well as the new business opportunities that Jibo will bring in the future.

Investment Overview

Investment Method: Acquisition by Dentsu Ventures of Series A Preference Shares of Jibo through third-party allocation of shares
Amount of Investment Capital: USD 3 million

Profile of Jibo
Company Name: Jibo, Inc.
Location: Boston, Massachusetts, U.S.A.
Representative: Steve Chambers (CEO)
Number of Employees: 28
Line of Business: Development, production and sales of social robot Jibo

Profile of Dentsu Ventures
Name: Dentsu Ventures Global Fund I
Total Fund Capital: Five billion yen
Date of Establishment: April 2015
Period of Operation: Seven-year period from April 2015 until March 2022
Investment Regions: Global investments with a focus on the U.S., Europe and Asia
Investment Stages: Balanced, wide-ranging investments with the focus on seed and early stage investments, but also including mid-stage and later-stage investments
Investment Areas: (1) Areas that can change the marketing and communication business in a broad sense (2) New areas other than the above that have a high potential for innovation

Investment-related enquiries: Dentsu Ventures - E: info[.]dentsu-v.com.

 
 
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Written by / Agency / Source: Dentsu

 
 

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Dentsu Announces its Corporate Venture Capital Fund Dentsu Ventures Investment in U.S. Social Robot Development Startup Jibo

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Dentsu Ventures | Jibo, Inc.
Publisher Contact: Shusaku Kannan - Dentsu.co.jp 
+81 3-6216-8042 s.kannan[.]dentsu.co.jp
 
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