Magic Shields closed $1.64 Millon Pre Series A Funding Round Led by Carbide Ventures
Aiming for zero falls and fractures worldwide through the combination of Japanese-origin variable stiffness structures and sensor services.
We are pleased to announce that we have raised $1.64 million USD through a third-party allotment with DeepCore, Inc. as the underwriter, led by Carbide Ventures, a venture capital firm with a deep understanding of “deep tech” technologies that can have a significant impact on social issues worldwide.
With this round, our total fundraising amount has reached approximately $2.92 million USD. Through this fundraising, Magic Shields will begin the development of sensor services in addition to new product development. We will start collecting data on falls and fractures occurring in medical institutions and welfare facilities and aim for zero fall fractures worldwide through the combination of our first-of-its-kind variable stiffness structure technology.
Fundraising amount: $1.64 million USD
Fundraising method: Third-party allotment
Underwriters (in no particular order): Carbide Ventures, DeepCore, Inc.
Use of funds: Product development, sensor service development
As of March 2023, with the increasing number of fractures due to falls among the elderly, the number of facilities implementing our “Coroyawa” technology has exceeded 560. Magic Shields will use the raised funds to develop new products that are thinner and lighter variable stiffness structures, making them easy to handle as building materials. Furthermore, through the development and demonstration of sensor services, we will collect large-scale data on falls and fractures occurring in medical institutions and welfare facilities, which have been difficult to obtain so far, and work to reduce falls and fractures in medical institutions and welfare facilities both domestically and abroad through visualization of fall-prone locations and environmental improvements.
Comments from Venture Capitalists
Mr. Hiro Yoshikawa, General Partner, Carbide Ventures
We are convinced that “Coroyawa,” which utilizes variable stiffness structures, the essence of impact absorption technology cultivated since President Shimomura’s previous career, is an innovative technology that can improve the quality of life (QOL) of the elderly, their families, and caregivers, and bring about a vibrant longevity society. We look forward to further growth of Magic Shields and are excited to assist with the application of advanced technologies to their products.
Ms. Moe Sawazaki, Deputy Senior Director, DeepCore, Inc.
The innovative “Coroyawa” floor, which is soft only when you fall, is the best solution to solve the problem of elderly medical care and nursing care due to fall-related fractures. It was born from the unique ideas of President Shimomura, who is also an inventor. We have received many voices of surprise and gratitude from the sites where “Coroyawa” has already been introduced, and even now, “Coroyawa” is saving many lives and preserving the richness of life from a single floor. We are looking forward to the integration of floor sensors in “Coroyawa” and analyzing the data with AI to instantly determine the presence or absence of falls, the way of falling, and the impact on the body, while ensuring the privacy of users, and to help with appropriate emergency responses and fall prevention. We are committed to fully supporting Magic Shields as they aim for global expansion and further leaps.