SpaceMarket gets $930,000 to let you rent any space, on sea or land

SpaceMarket, a Japanese startup which connects users and open spaces, has just confirmed to Tech in Asia that it has raised JPY 100 million (US$930,000) in its first funding round.

The new cash comes from CyberAgent Ventures and Mizuho Capital, two familiar names in Japan’s startup ecosystem. The company will use the funds to strengthen its development and sales corps while expanding the service.

SpaceMarket was established only in January but it has quickly made a strong name for itself. Winning pitch competitions by no means guarantees success for a startup, but SpaceMarket did manage to take home top prize at two notable ones, B Dash Camp and Rising Expo.

Judges and investors alike have been taken with the service’s simple premise – make any space, be it a meeting room, a movie theater, or a boat, rentable.

SpaceMarket is only available in Japanese so far, but there are a few international venues listed, such as Coca Cola Park and a baseball field in Pennsylvania, USA. Should it continue to expand in Southeast Asia, it could face competition from similar event-focused rental services like the Singapore-based Boatbay, which rents out boats and yachts.

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