#Japan #Investment #Tokyo #Geofla #Prally

Geofla Secures Third-Party Investment for Economic Impact

Geofla Inc., a Tokyo-based startup focused on transforming transportation into engaging experiences, has successfully executed a third-party allotment capital increase, receiving investment from Yamato Social Impact Investment Limited Liability Partnership, managed by Nanto Capital Partners and Capital Medica Ventures. This funding will further accelerate the growth of their unique entertainment app, 'Prally,' while fostering the revitalization of local economies across Japan.

Background and Previous Efforts

Geofla has been at the forefront of addressing regional issues through its involvement in the 'Yamato Impact Investment Program.' Their project centered around tourism challenges in Nara City was awarded the top prize for showcasing effective solutions. Nara Prefecture, despite having a high volume of tourists, faces the issue of lower-than-average per capita tourist spending. To address this imbalance, Geofla implemented a system using their 'Prally' app to encourage circulation through a digital stamp rally.

For instance, they created initiatives in the historic 'Naramachi' district, intertwining tourism experiences with capsule toys. A unique keychain modeled after local deer was introduced as part of the initiative, encouraging visits and purchases from 17 local shops. An impressive finding revealed that over 80% of participants had not intended to visit 'Naramachi' prior to their involvement, effectively generating new foot traffic and boosting regional tourist spending.

Leveraging this success, Geofla plans to sustain ongoing efforts in Nara while also addressing regional issues in other locales, promoting rural revitalization throughout the country.

Objectives of the Capital Increase

The recent funding will be directed toward the following goals:

1. Enhancing 'Prally' Services in Yamato Region: The investment will focus on expanding 'Prally' and strengthening its functionalities to better accommodate the needs of the Nara region. Geofla aims to build a platform that connects various tourist attractions and commercial facilities, creating a seamless flow of movement and experience that combines both online and offline realms. This aims to inspire excitement and draw people to different locales, uplifting the future of these communities. Plans include the establishment of permanent, app-linked capsule toy installations and the offering of unique routes targeting local industries, enhancing the engagement of users with their environment.

2. Nationwide Dissemination of Economic Revitalization Models: Utilizing insights from their successful Nara initiatives, Geofla intends to contribute to the development of various local economies across Japan by providing high-value experiences that capitalize on unique cultural and social characteristics. This involves collaboration with local governments and commercial entities to create sustainable practices that improve employment opportunities, attract tourists, and enhance local cultural heritage, thus solidifying their impact as a vital social infrastructure.

3. Maximizing Social Impact: Geofla aims to establish a sustainable tourism model that boosts tourist consumption in Nara through engaging experiences that connect visitors to local attractions. Additionally, they will promote digital transformation in the retail sector by offering innovative solutions, thus fostering new value creation through comprehensive analysis leveraging big data and Customer Relationship Management (CRM) techniques.

Insights from Investors

Atsuyuki Sakai, President of Nanto Capital Partners, commented on Geofla’s dedication: "Their commitment and determination to achieve results set a standard for startups. We have witnessed their responsiveness to obstacles during discussions and field activities, and their relentless pursuit of success inspired our decision to invest. We look forward to collaborating with Geofla to tackle regional challenges and share successful models on a dynamic scale across Japan and beyond."

Takeshi Aoki, President of Capital Medica Ventures, shared his enthusiasm for Geofla's mission: "Geofla’s initiatives are a beacon of hope for addressing local social issues. Their results in Nara reflect their deep commitment to transforming mobility into meaningful experiences that connect people. We, as a social investment fund, are proud to accompany Geofla on this meaningful journey to realize a world of interconnected charm and movement."

Geofla’s Vision for the Future

Yoichi Ozaki, CEO of Geofla, shared his perspective: "Our goal is to redefine 'movement' not just as a means of travel but as an experience filled with discovery and joy. While rural areas are rich in attractions, they face various challenges in revitalization. We aim to deepen our sustainable business model while expanding our efforts to ensure every individual’s movement leads to the rediscovery of local charm and connection among people. We are deeply grateful for the partnership with Yamato Social Impact Investment and will continue to contribute to Nara’s regional revitalization through our unique projects."

About 'Prally'

'Prally' is an entertainment app designed to transform daily movement into enjoyable experiences using GPS technology. Users can explore the area through digital stamp rallies and rewards, offering unique local experiences like check-ins and capsule toys. Launched in December 2023, the app has attracted hundreds of thousands of users from diverse demographic backgrounds. Visit Prally

About Geofla Inc.

Founded in March 2023, Geofla aims to maximize the economic benefits generated by mobility, contributing to sustainable community development. By harnessing the synergy of technology and entertainment, they strive to foster engaging experiences across various locations, enhancing local economies and communities altogether.

Company Details:

• - Company Name: Geofla Inc.
• - CEO: Yoichi Ozaki
• - Headquarters: 2-6-1 Marunouchi, Chiyoda, Tokyo
• - Business Focus: Development of products that activate human movement in physical spaces and projects related to regional revitalization.
• - Website: Geofla