CoA Nexus Secures Approximately 300 Million Yen in Funding to Advance AI-Powered Research Matching

CoA Nexus Secures a Significant Funding Round

CoA Nexus, a pioneering company based in Tokyo's Meguro district, has successfully completed a funding round totaling approximately 300 million yen. This funding comes from esteemed investors including Lotte Ventures Japan, Innovation Engine, Hakuhodo, and BlueSeed, alongside loans from financial institutions. Additionally, the company has entered into a capital and business partnership with Hakuhodo, marking a significant strategic move in its growth trajectory.

Background of the Funding

In recent years, the spotlight has turned to deep tech as a significant driver of the next industrial and information revolutions. This emerging field holds the potential to establish new industries based on scientific innovations and is seen as a key area for future economic growth. The demand for IT engineers had been exceptionally high, but recent upheavals in the tech workforce, including Microsoft’s notable downsizing where a majority of layoffs affected software engineers, have altered the landscape.

According to a report by Recruit Co., due to changing market dynamics, the job openings in the IT and telecommunications sector recorded a decline for the first time in years. Conversely, positions in research and development areas, such as semiconductors and pharmaceuticals, have seen a notable increase, indicating a shift in industrial structure.

At this pivotal moment, CoA Nexus identifies the next innovation wave as a 'Research Revolution,' aiming to enhance the mobility of talent in the research and development sectors by effectively matching experts with suitable companies and institutions.

Purpose of the Funding

Since its inception in 2020, CoA Nexus has remained focused on supplying immediate talent to the research and development fields amid increased interest from many companies in new science graduates. The company utilizes proprietary AI to analyze public information like research papers and patents, creating a unique database of researchers not attainable through traditional advertising or job postings.

This funding round aims to bolster efforts in several key areas:

Strengthening Recruitment

To support business growth, the company will intensify hiring across various departments such as sales and marketing.

Enhancing PR and Marketing

To elevate brand recognition, CoA Nexus will implement diverse strategies for outreach, including event hosting and online initiatives.

Product Development

The firm plans to enhance its extensive database, now exceeding 300,000 research and development professionals, to accelerate its global expansion.

Overview of the Partnership with Hakuhodo

The collaboration with Hakuhodo is designed to merge CoA Nexus's global network of researchers with Hakuhodo's strength in creativity and marketing expertise. This partnership aims to bolster support for researchers and companies within the deep tech sector while elevating CoA Nexus’s brand awareness.