SoftBank Group Corp. has added a Japanese endoscopy startup to its portfolio, marking the company’s third Vision Fund investment in the nation.
AI Medical Service Inc., which develops systems and software for gastrointestinal diagnostics and uses artificial intelligence to help clinicians more reliably identify potential cancers of the stomach and intestines, has received an investment of 8 billion yen ($63 million) from the world’s largest tech fund.
SoftBank’s Vision Fund 2 made its first investment in a Japanese business in November, when it bought a share in Aculys Pharma LLC, a pharmaceuticals company.
Pitolisant, which is used to treat narcolepsy and sleep apnea in Europe, is developed and sold by Aculys. Following that, Soda Inc., a business that runs an online marketplace for shoes and streetwear, received funding.
The Vision Fund 2, which normally takes smaller holdings in early-stage firms than the original Vision Fund, made all three of SoftBank’s Japan investments.
“AI Medical is a firm with the potential to push its business to the worldwide market, not simply Japan,” said Kentaro Matsui, who leads the SoftBank Vision Fund’s Japanese team. “Once it has established itself in the domestic market, we expect it to expand internationally.”
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