Floadia Corporation Secures JPY 1B in Series D Investment Round

Floadia Corporation, a Japan-based embedded flash memory developer, has raised roughly JPY 1.05 billion ($7.04 million) in a Series D investment. Inabata & Co., Ltd., headquartered in Chuo-ku, Osaka, and Cypress Capital, a Hong Kong investment firm, underwrote an allotment of capital for a total of JPY 850 million ($5.7 million), according to Floadia. The finance also comprises JPY 200 million ($1.34 million) raised from Japan Finance Corporation through venture debt (credit with equity acquisition rights) in March 2023.

Floadia has received approximately JPY 3.9 billion ($26.15 million) in funding to date from INCJ (Japanese government fund), UMC Capital (Taiwan), a subsidiary of major foundry UMC, Faraday Technology (Taiwan), a cutting-edge semiconductor design firm, and Teijin Limited, a major Japanese chemical firm. When the amount raised in this round is added together, the total amount raised to date is roughly JPY 4.95 billion ($33.19 million).

Floadia stated that the funds raised would be used to boost sales activities promoting its current primary business, embedded flash memory intellectual property (IP) cores, to semiconductor manufacturers, as well as to improve the development of ultra-low power consumption artificial intelligence (AI) accelerator chips that use flash memory devices.

It should be noted that Inabata, which participated in this round, operates a diverse range of businesses in the information and electronics, chemicals, consumer products industry, and plastics sectors internationally and intends to use the network to promote Floadia's international sales.

Floadia was founded in 2011 by experienced engineers who had spent over 20 years creating embedded non-volatile memory at Hitachi, Ltd. and Renesas Technology (now Renesas Electronics Corporation).