Silicon Valley-based Japanese startup FlyData has received an additional investment of
US$1 million US$1.45 million from Nissay Capital, Archetype Ventures, and CyberAgent Ventures. Prior to today’s round, the startup had previously raised US$680,000 from investors including 500 Startups and CyberAgent Ventures in 2011. Then, in June of last year, it raised US$925,000 from Nissay Capital.
Update: Fujikawa tells Tech in Asia that the new funding allows FlyData to invest in its product and revenue growth. “[We will be] hiring sales and engineers in the U.S,” he says.
Founded in 2011 by Koichi Fujikawa, FlyData has gone through quite a bit of drama as one of its cofounders called it quits not long after the first version of its product was launched.
The tide only started to turn over the last two years as Fujikawa and his team developed a reputation as experts in Amazon Redshift, the data warehouse that helps companies save money by providing a cheap and efficient way to store and analyze data.
“Redshift is revolutionary. But it has one problem. It is hard to migrate and send data and we decided to solve this problem. Somehow my past experience as a engineer and gut feeling told me to focus on Redshift. As it turned out, that was the correct decision that kept our startup afloat,” Fujikawa told Tech in Asia in an interview this year.