Global Expansion through Enhanced Development, Sales Structures and Strategic Collaboration
Hamamatsu, Japan, December 20, 2024: Pi PHOTONICS, INC. (CEO: Takahiro Ikeda), a startup specializing in photonics technology, has successfully completed a third-party allotment capital increase with TOYODA GOSEI Co., Ltd. (Headquarters: Kiyosu City, Aichi Pref.; President & CEO: Katsumi Saito) as the investor. TOYODA GOSEI, a member of the Toyota Group, is a leading global supplier of automotive components and LED products, brings its expertise and resources to this partnership. With this funding, we aim to further accelerate business expansion and fully scale the global deployment of the “HOLOLIGHT Series.”
<Purpose of Funding>
This Series C funding marks a significant step in advancing our business to the next level. Through the “HOLOLIGHT Series,” we aim to deliver new value to customers worldwide while striving to enhance corporate value. Key initiatives driven by this funding include:
1. Strengthening Development Capabilities
Since establishing our headquarters at the HOLOLIGHT Building in October 2017, we have focused on developing the “HOLOLIGHT Series.” In 2020, we expanded our R&D capacity by adding a dedicated lab space on the building’s third floor. Furthermore, a new CTO with extensive experience in photonics technology and product development from a publicly traded company has been appointed, succeeding our CEO who previously held this dual role. This leadership transition positions us to strategically advance new product development with a structured and systematic approach.
2. Strengthening Sales Capabilities
Since 2019, we have consistently delivered stable performance, particularly in the manufacturing sector. By hiring additional sales talent, we aim to shift from a defensive sales approach centered around exhibiting at trade shows and handling inquiries, to a more proactive sales strategy focused on deepening relationships with existing customers and making differentiated proposals that emphasize the technical superiority of our products. The success of our safety lighting solutions for cranes in the U.S. steel industry has laid the foundation for global market development, which we plan to further accelerate through active participation in international trade shows and localized feedback-driven product development.
3. Enhancing Collaboration with the Investor
This funding strengthens our partnership with TOYODA GOSEI Co., Ltd., leveraging their technical resources and know-how to explore new business opportunities and expand existing ones. Starting with potential deployments at their overseas facilities, we will actively pursue broader market entry and develop new distribution channels. This collaboration aims to enhance the competitive edge of our products and significantly expand their global reach, fostering mutual growth and innovation.
With this funding, Pi PHOTONICS, INC. is poised to accelerate growth, enhance corporate value from a long-term perspective, and achieve milestones such as listing on the Nagoya Stock Exchange by September 2026 and the Tokyo Stock Exchange by September 2028.
<Upcoming International Trade Shows>
Our planned participation in upcoming trade shows includes:
・February 20-22, 2025: IETF 2025 (New Delhi, India)*
・March 25-27, 2025: EXPOACERO 2025 (Monterrey, Mexico)
・May 5-7, 2025: AISTech 2025 (Tennessee, USA)
・July 7-10, 2025: KISS 2025 (Gyeonggi, South Korea)
・November 4-7, 2025: A+A 2025 (Düsseldorf, Germany)
(*Supported by JETRO’s Japan Pavilion booth.)
<Past Fundraising Achievements>
In February 2019, our company conducted a third-party allocation of shares as a Series B investment round, raising a total of 100 million JPY. The allocation was underwritten by Nippon Technology Venture Partners Y1 Investment Partnership (General Partner: Nippon Technology Venture Partners, Representative Director: Kazutaka Muraguchi) and Force Co., Ltd. (Representative Director: Akira Hiruma).
The purpose of the fundraising at that time was threefold: strengthening the development framework, enhancing the sales and marketing structure, and improving the back-office operations. These reinforcements have enabled steady growth and an increase in revenue.
<Comments from Investors and Existing Shareholders>
TOYODA GOSEI Co., Ltd.
Naoki Yamano, General Manager of Corporate Venture Capital Dept., New Value Creation Div.:
”In the manufacturing industry, the importance of safety measures in factories lies primarily in protecting the lives and health of employees. If an employee is involved in an accident, the impact could leave physical or mental disabilities, resulting in immeasurable grief not only for the employee but also for their family. To prevent such incidents, we always prioritize safety measures. Moving forward, we plan to introduce Pi PHOTONICS, INC.’s photonics technology in our domestic and overseas factories, particularly for tasks like the transport of molds used for product forming with crane operations. We will further strengthen safety measures utilizing this technology. Additionally, we decided to invest in the company to expand the application range of its products and promote collaboration to create safer workplaces. Our goal is to contribute to reducing workplace accidents not only within our company but throughout society. We hope that new safety measures utilizing photonics technology will improve labor environments and help more companies achieve safe workplaces.”
Nippon Technology Venture Partners
Kazutaka Muraguchi, Representative Director:
”CEO Takahiro Ikeda has overseen the launch of Pi PHOTONICS, INC. for over a decade, from its founding. He has steadily grown the business with Yaramaika spirit (a regional expression from Shizuoka Pref. reflecting the local attitude of taking on challenges and trying new things) through efforts such as establishing the foundational technology for HOLOLIGHT, obtaining patents, initial product development, customer application development, strengthening the organizational structure, launching new products, trial and error, and expanding globally.
Currently, Pi PHOTONICS is growing steadily in fields where light is used to control people’s actions (such as factory safety, signage, landscape presentations, tourism, and improving living environments). As a startup bridging the gap between analog and digital with light, Pi PHOTONICS is building a foundation for next-generation technological innovation. Additionally, we are entering an era of digital models driven by autonomous driving, robotics, AI-based real-time analysis and generation, making the fusion of analog and digital increasingly important. Considering this background, I am confident that Pi PHOTONICS has many business opportunities ahead. With this capital increase from Toyota Gosei Co., Ltd., we expect that cooperation with them will expand application fields, and Pi PHOTONICS will make even greater strides in the global market. We hope that this new step will become a crucial one for Pi PHOTONICS ‘ growth and global expansion.”
Force Co., Ltd.
Akira Hiruma, Representative Director:
”In the Hamamatsu region and beyond, creating new industries through venture companies applying photonics technology and promoting second ventures by small and medium-sized enterprises with a venture spirit are essential for revitalizing Japan’s economy. Photonics technology is an indispensable element for the future development of industries, with limitless applications.
I have great expectations for Pi PHOTONICS, INC. to strengthen its organizational structure with this capital increase and continue to pursue new challenges. As the company expands its business utilizing photonics technology, I am confident that it will bring new vitality to the economy of the Hamamatsu region and Japan, driving innovation in various fields.”
Graduate School for the Creation of New Photonics Industries
Hiroyasu Ito, President:
”CEO Takahiro Ikeda, an alumnus of our university, founded Pi PHOTONICS, INC. during his time at our institution, based on ideas born during his studies. He has been committed to the continuous development and provision of HOLOLIGHT. His steady and positive attitude embodies the type of talent our university aims to cultivate. I am very pleased that companies supporting COE Ikeda’s strong vision have joined in and are advancing the new development of the photonics industry. Currently, HOLOLIGHT has grown into Pi PHOTONICS’ flagship product, and we expect it to be applied in even more diverse fields as it expands into international markets. I sincerely hope that this will create new value for society and contribute to the future of many people.”
<About Pi PHOTONICS, INC.>
Founded in 2006 as a venture company originating from the Graduate School for the Creation of New Photonics Industries, Pi PHOTONICS, INC. commercialized its high-directional LED lighting product, HOLOLIGHT, in April 2008. Since then, HOLOLIGHT products have been widely adopted for various applications, including inspection in manufacturing, architectural and event lighting, and experiments in university research institutions.
The HOLOLIGHT series has since evolved into a lineup of LED lighting solutions capable of forming light patterns. In recent years, Pi PHOTONICS has pursued innovative uses of light, focusing on three key areas: safety measures to reduce workplace accidents, spatial design to create unique landscapes that enhance regional appeal, and wildlife management solutions aimed at achieving the SDGs.
These business ventures are a direct result of the business plan developed by CEO Takahiro Ikeda during the inaugural “始動(Shido, Beginning) Next Innovator 2015” program. Now, nine years later, he has once again been selected for the “始動 Next Innovator 2024” (10th term). Following the final pitch session held on December 14, 2024, he has been chosen to participate in the Silicon Valley program starting in late January 2025. This opportunity will enable Pi PHOTONICS to strengthen its global competitiveness and drive further growth through enhanced global market engagement.
<Company Overview>
・Company Name: Pi PHOTONICS, INC.
・Address: 673 Tennocho, Naka-ku, Hamamatsu, Shizuoka 435-0052, Japan
・Established: October 2, 2006
・Capital: 88,400,000 JPY (as of November 30, 2024)
・Representative: Takahiro Ikeda, CEO
・Business Description: Development, manufacturing, and sales of “HOLOLIGHT Series”
For more details, please contact:
■Pi PHOTONICS, INC. https://www.piphotonics.com/en
673 Tennocho, Chuo-Ku, Hamamatsu City, Shizuoka 4350052, Japan
TEL: +81-53-581-9683 E-mail: global@piphotonics.co.jp
