Investment in Nehan Inc: Revolutionizing Public Sector Bidding with AI Solutions

United Co., Ltd. Invests in Nehan Inc.

United Co., Ltd., based in Shibuya, Tokyo, is making waves with its recent investment in Nehan Inc., the operator of the innovative AI bidding platform, Labid. This initiative aims to dramatically boost productivity in public sector procurement, a market valued at approximately 27 trillion yen with over 1.06 million projects annually. Nehan, which operates under the vision of 'Creating a New Public Together,' is set to transform public procurement processes using AI to streamline operations.

Overview of Nehan's Business

Nehan has developed Labid, an advanced bidding platform that automates the collection of public bidding information released by various municipalities and public agencies across Japan. The platform utilizes AI for comprehensive support in areas ranging from automatic document summarization to project selection and progress management, as well as proposal writing. By dramatically cutting down the time required for exploring and evaluating projects, which previously relied heavily on tedious manual work, Labid boosts operational efficiency for its users.

Nehan's platform addresses the longstanding inefficiencies that have hindered small and new businesses from entering the public procurement market. The fragmented nature of bidding information across over 2,000 administrative sites, coupled with varied formatting and terminology, has created significant barriers to entry, necessitating specialized expertise and substantial manpower.

The Significance of the Investment

United's investment aims to alleviate these challenges by supporting Nehan's efforts to utilize AI for structural solutions to these issues. Labid is designed to standardize and demystify public sector sales processes, making them accessible to all companies, thereby reducing barriers to entry into governmental markets. This could lead to significant benefits, particularly for small and start-up businesses, which often face missed opportunities due to these complexities.

The growth potential within the enormous public procurement market, coupled with the societal benefit of more efficient use of public resources, makes Nehan's mission particularly compelling. Through the expansion of Labid’s capabilities and customer base, United believes the platform can accelerate the digitization of bidding processes and support new entrants into the market, ultimately contributing to regional revitalization efforts.

Future Prospects for Nehan

With the new funding, Nehan plans to enhance its human resources and invest in AI technology. The goal is to improve sales operations and strengthen customer support, ensuring more organizations can access public markets while also contributing to the improvement of governmental services. United is committed to supporting Nehan in its ambitious growth plans to create lasting value in the sector.

About United Co., Ltd.

United Co., Ltd. is dedicated to maximizing the power of will and accelerating the good progress of society. Established on February 20, 1998, United has over two decades of experience in the investment sector, focusing on seed to early-stage ventures and startups within Japan. Their investment strategy allows for flexible and swift decision-making, as all investments are funded through their own capital.

In addition to financial support, United provides extensive operational and organizational expertise and assistance with securing funding and exit strategies for its portfolio companies.