#Japan #Tokyo #RaaS #Hankyu Hanshin #Favy

Favy Secures Additional Funding for Expansion

Favy Inc., based in Shinjuku, Tokyo and led by CEO Takumi Takanashi, has announced that it has successfully raised additional funds from existing shareholders, specifically from Hankyu Hanshin Innovation Partners, as part of the first close of its Series D funding round. As preparations for the second close are currently underway, this funding marks a significant step forward for the company.

Purpose of the Funding

The recent influx of capital will be utilized to develop new share-type food hall locations, following the success of existing sites such as 'ODORiBA' in Sapporo and 'reDine Hiroshima' in the Kichijoji Credo Pasera complex. The funding will not only support these expansion plans but will also enhance collaboration with Hankyu Hanshin Holdings through Hankyu Hanshin Innovation Partners. This partnership aims to leverage customer base data amassed by commercial premises and railway operators to create innovative area marketing products, often referred to as retail and commerce media advertising products.

Insights into Favy's RaaS Business Model

Favy operates under a business model known as RaaS, which stands for Restaurant as a Service. The company is dedicated to maximizing the value of real estate through unique dining experiences. Favy provides comprehensive digital transformation (DX) tools by integrating multiple high-quality digital solutions. It runs various share-type food halls, such as 'reDine' and 'Neo Yokochou,' and actively supports developers in creating food courts and dining areas at their properties.

The RaaS model is designed to bring about new foot traffic and value to underutilized real estate and unpopular commercial properties. Favy manages everything from concept development and interior design to kitchen construction, thereby increasing property profitability.

Leadership Insights

In a comment about this recent funding achievement, CEO Takumi Takanashi emphasized Favy's commitment to improving customer experiences through its self-developed mobile ordering system and integrated digital tools. He explained the company's operations of share-type food halls, where Favy oversees the entire kitchen construction process. This strategy contributes to revitalizing stagnant real estate and enhances profitability.

He further noted that Favy does not just operate its own food halls but also offers tools and support to commercial facilities. With its store visit measurement technology, Favy aims to streamline customer attraction for these establishments.

With the backing of this latest funding, Favy is poised to accelerate its business growth and explore new ventures, solidifying its position in the evolving food and real estate landscape.

Company Overview

Founded in July 2015, Favy Inc. is headquartered on the 4th floor of Adhoc Shinjuku Building, located at 3-15-11 Shinjuku, Tokyo. The company specializes in the development and provision of SaaS applications, including mobile ordering and subscription systems, while also managing share-type food halls and co-working spaces. For more information, visit Favy Official Site.