Notice of new funding via the “Funds” peer-lending platform
Kudan Inc. (headquarters in Shibuya-ku, Tokyo; CEO Tomohiro Ohno) announced that at its board of directors meeting held on October 11, 2019, it approved the acquisition of new funding via the “Funds” peer-lending platform managed by Crowdport, Inc. (headquarters in Shibuya-ku, Tokyo; CEO Yuichiro Fujita) as per the details outlined below.
Kudan plans to use the capital raised to grow its business operations through the establishment of subsidiaries in Japan, Hong Kong, and China, as well as invest in other Deep Tech-related companies via the “Funds”. Kudan will also expand its own Deep Tech research and development efforts in order to accelerate its adoption as a core technology in society that brings innovation to a wide variety of industries and business fields.
＜New Fund Overview＞
1. Fund Name ：Kudan Deep Tech Fund #1
2. Fund Type ：Loan fund
3. Total Fund Amount ：300 million JPY
4. Minimum Required Funding ：30 million JPY
5. Minimum Investment ：1 JPY
6. Expected Yield ：2.0% APR (pretax rate)
7. Fund Information Release Date：October 11, 2019
8. Application Start Date ：October 17, 2019
9. Payment Due Date ：October 25, 2019
10. Scheduled Loan Period ：November 1, 2019 – September 30, 2020
11. Loan Disbursement Date ：November 1, 2019
12. Repayment of Principal ：Lump sum on completion of loan term
13. Interest Payments ：Quarterly
14. Loan Type ：Unsecured/Non-guaranteed
About Kudan Inc.
Kudan (Tokyo Stock Exchange securities code: 4425) is a deep tech research and development company specializing in algorithms controlling artificial perception (AP), a technology which provides machines (computers and robots) with the equivalent of human “eyes.” As a complement to artificial intelligence (AI), AP functions as a deep tech which allows machines to develop autonomy. Currently, Kudan is using its high-level technical innovation to explore business areas based on its own milestone models established for deep tech which provide wide-ranging impact on several major industrial fields. In addition to the independently-developed AP technology it has produced, Kudan is also conducting R&D in the fields of machine perception, deep perception and neural perception networks, with an eye to the integration of its technology with artificial intelligence (AI) and the internet of things (IoT).
For more information, please refer to Kudan’s website at https://www.kudan.io/.