#Japan #construction #Tokyo #3D Technology #Flights

FLIGHTS Secures 380 Million Yen in Series A Funding

FLIGHTS, a company headquartered in Shibuya, Tokyo, dedicated to redefining the construction industry using 3D data technology, has successfully completed its Series A funding round with a total raised of 380 million yen. This funding round included participation from various notable investors, including CTS Co., Ltd., Dai Nippon Dairo Consultants Co., Ltd., Shinshu Startup and Succession Support Fund No. 2, directX Ventures No. 1, and NOBUNAGA Growing Fund.

The mission of FLIGHTS is to enhance productivity in construction sites through the use of 3D data, focusing on surveying, inspections, and maintenance. The company aims to contribute to the future of social infrastructure while addressing critical challenges faced by the construction industry.

Background of the Funding

While the construction industry is witnessing steady demand, it faces significant issues such as a declining workforce and an aging skilled labor force, making productivity enhancement an urgent requirement. In response to these challenges, Japan's Ministry of Land, Infrastructure, Transport and Tourism is promoting the automation of construction sites through initiatives like 'i-Construction.' However, achieving digitalization on-site remains a challenging endeavor, with few successful implementations observed.

This difficulty is attributed to the high standards of quality demanded in construction, which are not currently matched by available digitalization technologies. The obstacles arise from various factors, including costs and the complexity of technology utilization.

FLIGHTS is addressing these challenges by conducting detailed specifications of operations based on research and development by civil engineers. The company aims to implement a consistent solution that supports proper data acquisition, hardware development, device control, and the conversion to 3D data. Moving forward, FLIGHTS plans to expand its product line continuously, contributing to productivity improvements in public surveying and maintenance fields while further advancing its capabilities and supporting remote operations.

Details of the Funding Round

• - Round: Series A (First Close)
• - Investors:

- CTS Co., Ltd.
- Dai Nippon Dairo Consultants Co., Ltd.
- Shinshu Startup and Succession Support Fund No. 2
- directX Ventures No. 1
- NOBUNAGA Growing Fund

Comments from Investors

Taizo Yokoshima, President, CTS Co., Ltd.

"I am truly pleased to participate in this Series A funding round both as an investor and as a business partner. I see significant potential in FLIGHTS' strong commitment to redefine the construction industry through 3D data and their technological expertise backed by civil engineers. Given the industry's acute challenges, such as skilled labor shortages and other structural issues highlighted by the 2024 problem, there is an urgent need for dramatic productivity improvements. The utilization of 3D data technology is one key element in realizing the ministry's 'i-Construction 2.0.' We look forward to collaborating with esteemed companies in the industry to help solve these challenges."

Tetsuro Saito, Vice President, Dai Nippon Dairo Consultants Co., Ltd.

"We were excited to invest in FLIGHTS from the very beginning. Together, we've worked on initiatives including bridge inspections using drones and the development of automated inspection and image acquisition apps. This new technology enables enhanced inspection accuracy and efficiency, aiming for advancements in the 'bridge inspection and drones' sector. We are committed to further accelerating the adoption of drone inspection technologies and jointly developing innovative methodologies for existing infrastructure maintenance."

Hayato Ishizaka, Investment Officer, Mirai Door Co., Ltd.

"It's exciting to invest in FLIGHTS, a company working to transform construction sites. They provide comprehensive DX solutions covering hardware, software, and operations based on the foundation built by a specialized team with in-depth industry knowledge. Given the societal issues of infrastructure deterioration and the peak construction demand we now face, I am confident that their services will become indispensable."

Masaki Kitajima, Partner, L is B

"We're thrilled to have the opportunity to invest in FLIGHTS through our CVC fund, directX Ventures. We believe in the synergy between FLIGHTS' 3D data implementation and the communication platforms we offer to construction companies, fostering mutual growth as we work together to advance DX in the industry."

Masaki Ota, Investment Department Leader, NOBUNAGA Capital Village

"We are eager to collaborate with FLIGHTS as they establish a base in Aichi Prefecture. We look forward to extending their business in the Tokai region and contributing to their goal of creating a drone-centric society. We are committed to supporting FLIGHTS in achieving substantial growth and fulfilling a prosperous future."

Comment from Shuuhei Togeshita, CEO of FLIGHTS

"It has been seven years since our last funding round, and we are excited to launch this latest one. Initially, FLIGHTS was heavily product-focused with a mission of introducing drones to the market. However, over the past seven years, we have engaged with numerous sites and industry professionals to develop truly applicable new technologies. We have gained profound insights into the depth of the industry's challenges and the complexities hindering digital technology adoption. Our commitment is to develop and provide new technologies from within the construction industry itself. We have a unique position with our team of civil engineers, combining on-the-ground insights with technology. With the urgency for innovation at hand, we are focused on creating new technologies that can genuinely be utilized in the field. I want to express my heartfelt gratitude to our new shareholders who believe in FLIGHTS. We are dedicated to fulfilling our mission of redefining the construction industry using 3D data."

FLIGHTS is also looking for new team members to support the future of construction and infrastructure. If you are interested in joining the team, check here.

Disclaimer

This information is intended to provide general insights related to FLIGHTS' funding and does not constitute an investment solicitation.

Company Overview

• - Company Name: FLIGHTS Co., Ltd.
• - Location: 6th Floor, Dogenzaka Imai Building, 1-19-12 Dogenzaka, Shibuya, Tokyo
• - CEO: Shuuhei Togeshita
• - Business Description: Development and provision of DX technology leveraging 3D technology in the construction industry.
• - Established: March 2016
• - Website: FLIGHTS