Idein Partners with Canon Marketing Japan for Business Collaboration and Investment

Idein Collaborates with Canon Marketing Japan

Idein Inc., located in Chiyoda, Tokyo, and renowned for its cutting-edge edge AI/IoT platform, Actcast, has recently accepted an investment from the Canon Marketing Japan MIRAI Fund. This partnership aims to accelerate the practical application of AI technology in various industries.

Context of the Investment

The growing demand for edge AI technology across commercial spaces such as stores, factories, and stations highlights the importance of efficient data processing methods. Edge AI offers several advantages, including executing processing on-site through connected devices, sending only essential data to the cloud. This reduces privacy concerns and mitigates costs associated with server and communication, making it a sought-after solution in today’s digital landscape.

Idein's Actcast utilizes devices like AI cameras and microphones to offer diverse digital transformation (DX) solutions. Notably, it focuses on minimizing security risks associated with data leaks and ensuring rapid installation at low costs while supporting large-scale operations across multiple locations. The platform plays a foundational role in developing systems that leverage edge AI, freeing partner companies to focus on creating solutions and verifying business value in various sectors such as urban development, transportation, retail, advertising, and manufacturing.

The Canon Marketing Japan Group, driven by a vision to tackle societal challenges through innovation, has established the MIRAI Fund. This corporate venture capital fund aims to explore advanced technologies and business ideas, ultimately generating new value in the process. One of its core focuses is on “Business Revitalization,” promoting the destruction of traditional industry structures to create fresh competitive advantages.

A joint effort towards business creation was assessed favorably based on Idein’s exceptional technology that enhances compiler processing, its extensive applicability across multiple fields, and its proven track record as an edge AI/IoT platform provider. Idein’s leadership team’s clear vision and high execution capabilities were also significant factors in securing this investment.

Overview of Canon Marketing Japan MIRAI Fund

In January 2024, the Canon Marketing Japan Group will launch an organization dedicated to creating innovative business solutions known as the R&B (Research & Business Development) Promotion Center. To further accelerate open innovation with startups possessing cutting-edge technology and business ideas, they will also establish a substantial corporate venture capital fund, the Canon Marketing Japan MIRAI Fund, valued at 10 billion yen.

The fund will streamline investments and foster collaborations that contribute to resolving pressing societal issues through new business ventures.

Market Presence

According to a report by Deloitte Tohmatsu Research, Idein has maintained the No. 1 domestic market share in the edge AI/deep learning image recognition solution market, reflecting its competitive edge and extensive applicability in real-world scenarios. This recognition is based on the analysis provided in the AI (Deep Learning) Utilization of Image Recognition Solution Market Current Status and Forecast 2024 Edition report, indicating growth potential for the upcoming fiscal year.

About Idein Inc.

Founded on April 7, 2015, Idein specializes in enhancing deep learning inference on cost-effective, general-purpose devices, showcasing unique technical prowess. The company has developed the Actcast platform, designed for collecting real-world data through edge AI, and provides services to developers and businesses looking to implement practical AI/IoT systems.

Idein aims to contribute to the proliferation of AI/IoT systems in collaboration with partner companies. Their mission emphasizes that “all real-world information shall be handled via software,” leading them to recognition as a J-Startup by Japan's Ministry of Economy, Trade and Industry and selection as a NEXT Unicorn company by the Nikkei. Additionally, they have earned accolades as an AI Partner with Arm and have been recognized in Nvidia's Inception Program in the USA, gaining notable international acclaim.