Tokyo University Co-Creation Platform Development Corporation has invested 300 million yen in Wellmo Inc., enhancing its support for AI and IoT-based welfare services in Japan's aging society.

Information on the Target

Tokyo University Co-Creation Platform Development Corporation (headquartered in Bunkyo, Tokyo, and represented by President Katsuhiko Oizumi, hereafter referred to as "UTokyo IPC") has announced a significant investment of 300 million yen in Wellmo Inc. (headquartered in Chiyoda, Tokyo, and represented by CEO Yusuke Kano), a company dedicated to creating a welfare platform service utilizing AI and IoT technologies. The investment is part of a collective funding effort involving 11 companies, including DG Ventures, Aflac Ventures LLC, and Tokio Marine & Nichido Fire Insurance Co., Ltd.

Wellmo is committed to its mission of achieving a sustainable society characterized by low birth rates and an aging population. The company develops various services, including an AI-assisted care plan creation tool called "Milmo Plan," a regional resources aggregation platform known as "Milmo Net," and a child development support program called "UNICO." In 2020, Wellmo's revenues grew 6.8 times compared to 2017, significantly enhancing its presence in the care tech industry.

Industry Overview in Japan

Japan is witnessing a dramatic demographic shift with its growing aging population, leading to increasing pressures within the caregiving industry. This trend has brought about a dire shortage of workers in the sector, thus necessitating improvements in both productivity and the quality of care