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Japanese Blockchain Company Tech Bureau Raises $6.2 Mln
Tech Bureau, a blockchain company headquartered in Osaka, has raised $6.2 million through a third party allocation as part of the Series A round.
According to the official press release, Tech Bureau drew support from Japan’s financial services company Arara, enterprise software company Infoteria, internet company OKWAVE, the venture capital companies Nippon Technology Venture Partners and Hiroshima Venture Capital, financial information provider FISCO and the Money Partners Group forex broker, which already announced its JPY 49 million investment, , SMN Weekly reported.
In addition, Tech Bureau also announced that it has formed strategic business partnerships with these companies, aiming to promote and develop bitcoin related services and blockchain technology.
The company will use the amount raised for further improvement and expansion of cryptocurrency exchange Zaif; research, development and testing for its blockchain technology mijin; open overseas offices; hire more staff; consolidate a framework for open-source project for mijin and launch of its paid-license; and further promote Zaif and mijin.
Tech Bureau is a cryptocurrency technology company. It operates Zaif cryptocurrency exchange and the blockchain technology mijin. In April, Zaif set record bitcoin trading volumes. Launched in September 2015, mijin aims to allow financial institutions to reduce infrastructure costs by up to 1000% by 2018. It is a platform that would let anyone set up a blockchain on a peer-to-peer network easily.