Tech Bureau, a leading Japanese blockchain and cryptocurrency company has announced that Shinsei Bank, a Japanese bank that provides a full range of financial products and services, and OKWAVE, the first and largest Q&A social community in Japan with bitcoin support and over 40 million users, have invested in Tech Bureau.
The brief history of Tech Bureau has seen the company launch the Zaif cryptocurrency exchange in the spring of 2015, its private blockchain product mijin swiftly followed in the fall of 2015. In 2016, Zaica, a token issuance service for corporations, and Zaif started to handle tokens as an exchange.
In August 2017, Tech Bureau announced its next development phase with the launch of COMSA, an integrated ICO solution and platform for enterprises that want to adopt blockchain technology and launch an ICO at the same time. The first token for sale on the platform is the COMSA (CMS) token issued by Tech Bureau itself, ending November 6, 2017 and which has sold USD $90 million so far.
The COMSA concept was conceived more than 2 years ago, and now it represents the ultimate integration of all products and services that Tech Bureau has to offer. Tech Bureau received $15M from Japan’s largest VC JAFCO in September, this was on top of a $9 million commitment in August from VCs Nippon Technology Venture Partners, FISCO Capitals, and ABBALab Inc. to support COMSA.
The investment from Shinsei and OKWAVE will go to support not just COMSA, but will help boost the ecosystem of Tech Bureau’s other businesses.
INVESTMENT BREAKDOWN:
- Shinsei Bank – USD $460,500
- OKWAVE – USD $307,000 (second investment)
FUNDRAISING PURPOSE:
- Expand business and increase headcount.
- Expand and improve Zaif cryptocurrency exchange infrastructure and services
- Build “mijin CloudChain,” BaaS (blockchain as a service) cloud service
- Expand mijin licensing and mijin CloudChain sales worldwide
- Grow its US, European, and Asian business bases
- Invest in new businesses, M&A
- Merge existing financial services with Tech Bureau’s technology and services
“ICO and blockchain technology is considered to be in conflict with existing financial infrastructure with its widespread and long-time use and deep experience. However, the implementation of the new technologies is not for the purpose of destroying existing financial institutions, but a tool to get a huge first mover advantage and surpass competitors. Tech Bureau’s solution is not something to be removed from the marketplace because banks view it as a danger, but it is a new weapon for them, one that uses existing things together. Shinsei Bank invests in the cryptocurrency and ICO solution company, Tech Bureau, as it understands this point.”
Proceeds from the sales of CMS tokens on COMSA will be invested separately in system development of COMSA itself to expand its services and operations as outlined in the COMSA white paper.