#Japan #Tokyo #MagicPod #HIRAC FUND #AI Test Automation

HIRAC FUND's Investment in MagicPod

In a significant move to address the ongoing shortage of engineering talent within Japan, HIRAC FUND, which is operated by Money Forward Venture Partners, has announced its investment in MagicPod, a startup known for providing an AI test automation platform. This decision comes as the IT industry grapples with the pressing need to optimize development resources, particularly in software testing, which relies heavily on human inputs.

The Need for Innovation

In recent years, the IT sector in Japan has faced a critical shortage of skilled engineers. According to estimates by the Ministry of Economy, Trade and Industry, Japan may experience a shortage of 400,000 to 800,000 IT personnel by 2030. The demand for optimization in development processes has become a pressing concern, particularly in software testing where inefficiencies stem from manual processes and individual reliance.

With the continuous evolution of web services and AI technologies, rigorous testing before software release has become non-negotiable. As a result, more companies are integrating test automation tools that minimize human error and streamline the testing workflow.

MagicPod, which has adopted the mission of 'Creating New Norms in Software Development,' aims to revolutionize the conventional practices in software development using AI-powered solutions. The platform currently serves more than 500 companies and focuses on expediting release cycles by reducing the hassle of test program corrections through automated solutions. Additionally, MagicPod aims to enhance its commitment to AI agent technologies moving forward.

HIRAC FUND's Strategic Investment

The decision to invest in MagicPod stems from the company's impressive growth potential in delivering functional products that have gained support from the QA engineer community. The fund is keen on supporting products with exceptional UI/UX designs, and its investment is also founded on the expectation of MagicPod's scope for global expansion. Through this collaboration, HIRAC FUND aims to leverage its network and industry insights to enhance global presence for Japanese technological innovations.

Company president, Nozomu Ito, expressed optimism regarding the partnership with HIRAC FUND, highlighting the speed and effectiveness of discussions around investment frameworks and future collaborations in critical business areas like AI development, global outreach, and talent acquisition.

About MagicPod

Founded in July 2012, MagicPod is headquartered in Chuo City, Tokyo, and specializes in developing and operating an AI test automation cloud service. Ito has a strong background in technology, having been awarded for his work in automated test tool development during his time at Works Applications before founding MagicPod.

With advanced AI capabilities, MagicPod has positioned itself as an essential player in streamlining software testing processes, ultimately allowing developers to focus more on creativity and innovation.

Future Aspirations

Through this investment, HIRAC FUND looks to bolster technological advancements that can effectively tackle societal challenges. The fund specializes in supporting seed and early-stage startups, particularly those focused on IT and technology sectors. The second fund, HIRAC FUND 2, has a total capital of 9.08 billion yen and is dedicated to investing in tech companies both domestically and internationally.

Money Forward Venture Partners, a wholly-owned subsidiary of Money Forward, is committed to the operation and recruitment for this fund, located in Minato City, Tokyo.

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