<article>Japanese bio-robotics startup Meltin has raised an $18-million round backed by SBI Investments, Sumitomo Dainippon and Dai-ichi Life Insurance, the startup said in an announcement on October 17.</article>

Japanese bio-robotics startup Meltin has raised an $18-million round backed by SBI Investments, Sumitomo Dainippon and Dai-ichi Life Insurance, the startup said in an announcement on October 17.
The fresh capital will be used to accelerate the development of avatar robots and medical devices.
&#8220;We&#8217;ve decided to participate in Meltin&#8217;s vision and provide new value to the startup based on our knowledge in the pharmaceutical business,&#8221; said Sumitomo Dainippon president and CEO Hiroshi Nomura.
SBI Investment is a wholly owned subsidiary of Japan&#8217;s SBI Holdings.
&#8220;We have high hopes that the bio-signal and robot technologies Meltin is developing will lead to revolutions in both the industry and the lives of individuals through their application in medical devices and avatar robots,&#8221; said Toshiro Kiyofuji, deputy general manager, corporate venture capital and investment department, SBI Investment.
Founded in 2013, Tokyo-based Meltin is focused on the research and development and the commercialisation of robotic technologies and medical devices. The startup is led by co-founder and CEO Masahiro Kasuya, who holds a PhD in robotics and artificial intelligence. He has been researching cyborg technology since 2002.
Meltin last raised a $2.1-million round, including grants, in December 2017 from local investors including Real Tech Fund, Japanese Organisation for Medical Device Development, and Mirai Creation Fund by SPARX Group.
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The fresh capital will be used by Meltin to accelerate the development of avatar robots and medical devices.

Japan's SBI Holdings backs $18m round for robotics startup Meltin

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Japan's SBI Holdings backs $18m round for robotics startup Meltin

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