Flare, a Mobility Tech Company, Raises JPY 150 Million in Series A from Spiral Ventures, Chiba Dojo, Sun Asterisk, and VOYAGE VENTURES

Flare Inc. (Representative Director: Kazuki Kamiya; hereinafter “Flare”), which develops and operates mobility-related businesses in the Kingdom of Thailand, is pleased to announce the completion of a third-party allotment of new shares totaling JPY 150 million in a Series A round from Spiral Ventures Pte Ltd, Chiba Dojo Co., Ltd., Sun Asterisk Co., Ltd., and VOYAGE VENTURES, Inc. The proceeds will be used to strengthen sales and development headcount and continue investment in our services, including the car-wrapping advertising platform “Flare Ad,” the driver attendance management and dangerous driving prevention app “Flare Dash,” and the driving behavior visualization solution “Flare Analytics.”

Purpose of Funding

The primary uses of proceeds from this capital raise are as follows:

• Investment in the car-wrapping advertising platform “Flare Ad”
• Investment in the driver attendance management and dangerous driving prevention app “Flare Dash”
• Investment in the driving behavior visualization solution “Flare Analytics”
• Recruiting and strengthening the sales and development teams in line with the above

Comments from Investors

Yuji Horiguchi, Spiral Ventures Pte Ltd

“Flare’s foundational technology ‘Flare Analytics’ is their weapon as they challenge the telematics insurance and P2P insurance space. We will leverage our full network and experience to support their growth.”

Kotaro Chiba, Chiba Dojo Co., Ltd.

“We support Flare’s challenge to improve Southeast Asia’s traffic infrastructure through driving data. We are inspired by their entrepreneurial spirit.”

Taihei Kobayashi, Sun Asterisk Co., Ltd.

“We are inspired by their agility in transforming services in response to user needs. There is a sense of excitement that this team will absolutely accomplish their mission.”

Tatsuya Hasegawa, VOYAGE GROUP Co., Ltd.

“I am very much looking forward to their expansion, from leveraging Bangkok’s traffic congestion as a business opportunity, to new territory with ‘Flare Analytics’.”