FLUX Secures $32 Million in Series B

by Kay Aloha Villamor in June 22nd, 2023

FLUX, a Tokyo, Japan-based AI platform developer, has secured ¥4.4 billion (Approx. $32 million) in Series B funding. This brings FLUX's total funds raised to ¥5.6 billion (Approx. $40 million) and will support the further development of their no-coding AI platform, FLUX AI.

Flux AI enables businesses to easily leverage AI technologies such as predictive analytics, natural language processing (NLP), and large language models (LLMs) without requiring coding skills or expertise.

The funding round was led by DNX Ventures, with participation from existing investor Archetype Ventures, as well as new investors Japan Co-Investment, Aozora Corporate Investments, Salesforce Ventures, Sony Innovation Fund, SMBC Nikko Securities, and NTT Docomo Ventures. FLUX also secured debt financing from Resona Bank and Shoko Chukin Bank.

FLUX will leverage the funds raised for three primary purposes: enhancing current products, expanding into new business functions beyond advertising and marketing, and investing in AI research to fuel its continued growth in the Japanese B2B software market.

Additionally, FLUX will allocate resources to AI research and hire more AI engineers. The company can efficiently develop AI-based solutions because every solution is built on the same FLUX AI architecture.

Company: FLUX, Inc.

Raised: $32.0M

Round: Series B

Funding Month: June 2023

Lead Investors: DNX Ventures

Additional Investors: Archetype Ventures, Japan Co-Investment, Aozora Corporate Investments, Salesforce Ventures, Sony Innovation Fund, SMBC Nikko Securities, NTT Docomo Ventures, Resona Bank, and Shoko Chukin Bank

Company Website: https://flux.jp/

Software Category: no-code AI platform

About the Company: Founded in 2018 by Genji Nagai and Shinnosuke Hirata, FLUX is a venture-backed startup that develops the no-code AI platform FLUX AI. Several no-code solutions are based on FLUX AI, each of which enables businesses to leverage AI in their operations. FLUX AI is built on a common architecture that facilitates the efficient development of AI-based solutions. The platform collects over 100TB of data each month, which is used to train models and improve performance across FLUX's services while maintaining data governance and privacy compliance. FLUX's mission is to maximize ROI for its clients by simplifying technology. Currently, FLUX serves over 1,100 publishers and advertisers, with enterprise customers being the largest segment. 

Source: https://www.prnewswire.com/news-releases/japanese-startup-flux-raises-32m-series-b-for-no-code-ai-platform-301856361.html

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