VELDT secures funding from VC

VELDT secures funding from two venture capital companies, to develop next generation wearable products, and to launch OEM business of IoT products.

TOKYO – VELDT, Inc (Head office: Setagaya-ku, Tokyo CEO Jin Nonogami) that develops and brings various IoT products and services to the global market has successfully completed the final seed round of funding. The investment was received from a fund operated by Accord Ventures, Inc. (Head office: Shinagawa-ku, Tokyo CEO Fumihiko Ishimaru) and CyberAgent Ventures, Inc. (Head office: Shinjuku-ku, Tokyo CEO Soichi Tajima).

In 2014, VELDT launched their first product the VELDT SERENDIPITY smart watch. In March of 2016, VELDT introduced their new models at the world’s largest watch and jewelry exhibition, Baselworld 2016. With its unique information design, and highest standard of quality products, the brand has been highly recognized globally as the newest, most revolutionary wearable products brand. Capital secured from this recent round of funding will mainly be used for product development, fully utilizing their accumulated know-how from their first generation products.

The circuit boards for the next generation of products will be developed in partnership with SMK Corporation (Head office: Shinagawa-ku, Tokyo President Yasumitsu Ikeda) and will be offered on an OEM basis to other IoT products outside of the VELDT brand. Demand for IoT related businesses and services is growing rapidly. Products that connect to the internet require development resources in software, hardware, design and engineering. Project management, quality control and cost management in volume production remain to be obstacles for companies trying to enter the market.

VELDT has accumulated knowledge and methodology in wearable product development, and has established a network of resources. In partnership with SMK Corporation, who has undisputed brilliance in technology, and time-tested experience in the manufacturing of electronic components, VELDT, Inc. plans to support various IoT projects.

VELDT Inc. was founded in 2012 with its head office in Tokyo as a unique brand focusing on wearable and IoT products and services. We are committed in developing new products and services to offer a new form of happiness and joy in this age of digital-stress.

Contact regarding this press release:
VELDT PR: Shinozaki
TEL  :  050-5824-3760      FAX:  050-5824-3760